28028 Federal Register / Vol. 66, No. 98 / Monday, May 21, 2001 / Notices

information collection requirement(s) to

OMB for review and clearance under the

Paperwork Reduction Act of 1995,

Public Law 104–13. Copies of the

submission(s) may be obtained by

calling the Treasury Bureau Clearance

Officer listed. Comments regarding this

information collection should be

addressed to the OMB reviewer listed

and to the Treasury Department

Clearance Officer, Department of the

Treasury, Room 2110, 1425 New York

Avenue, NW., Washington, DC 20220.

DATES: Written comments should be

received on or before June 20, 2001 to

be assured of consideration.

Internal Revenue Service (IRS)

OMB Number: 1545–0773.

Regulation Project Number: TD 8172

Final.

Type of Review: Extension.

Title: Qualification of Trustee or Like

Fiduciary in Bankruptcy.

Description: Internal Revenue Code

(IRC) section 6036 requires executors or

receivers to advise the district director

of their appointment or authorization to

act. This information is necessary so

that IRS will know of the proceedings

and who to contact for delinquent

returns or taxes.

Respondents: Individuals or

households.

Estimated Number of Respondents:

50,000.

Estimated Burden Hours Per

Respondent: 15 minutes.

Frequency of Response: Other

(nonrecurring).

Estimated Total Reporting Burden:

12,500 hours.

OMB Number: 1545–0874.

Form Number: IRS Form 8328.

Type of Review: Extension.

Title: Carryforward Election of

Unused Private Activity Bond Volume

Cap.

Description: Section 146(f) of the

Internal Revenue Code requires that

issuing authorities of certain types of

tax-exempt bonds must notify the IRS if

they intend to carry forward the unused

limitation for specific projects. The IRS

uses the information to complete the

required study of tax-exempt bonds

(required by Congress).

Respondents: Business or other forprofit, State, Local or Tribal

Government.

Estimated Number of Respondents/

Recordkeepers: 10,000.

Estimated Burden Hours Per

Respondent/Recordkeeper:

Recordkeeping ...................... 6 hr., 27 min.

Learning about the law or the

form.

2 hr., 10 min.

Preparing and sending the

form to the IRS.

2 hr., 22 min.

Frequency of Response: On occasion.

Estimated Total Reporting/

Recordkeeping Burden: 110,300 hours.

OMB Number: 1545–1068.

Regulation Project Number: INTL–

362–88 Final.

Type of Review: Extension.

Title: Definition of a Controlled

Foreign Corporation, Foreign Base

Company Income, and Foreign Personal

Holding Company Income of a

Controlled Foreign Corporation.

Description: The election and

recordkeeping requirements are

necessary to exclude certain high-taxed

or active business income from subpart

F income or to include certain income

in the appropriate category of subpart F

income. The recordkeeping and election

procedures allow the U.S. shareholders

and the IRS to know the amount of the

controlled foreign corporation’s subpart

F income.

Respondents: Business or other forprofit.

Estimated Number of Respondents/

Recordkeepers: 50,500.

Estimated Burden Hours Per

Respondent/Recordkeeper: 1 hour.

Frequency of Response: Other (onetime currency election).

Estimated Total Reporting/

Recordkeeping Burden: 50,417 hours.

OMB Number: 1545–1165.

Form Number: IRS Form 8821.

Type of Review: Extension.

Title: Tax Information Authorization.

Description: Form 8821 is used to

appoint someone to receive or inspect

certain tax information. Data is used to

identify appointees and to ensure that

confidential information is not divulged

to unauthorized persons.

Respondents: Individuals or

households, Business or other for-profit,

Not-for-profit institutions, Farms.

Estimated Number of Respondents/

Recordkeepers: 200,000.

Estimated Burden Hours Per

Respondent/Recordkeeper:

Recordkeeping—6 min.

Learning about the law or the form—12

min.

Preparing the form—24 min.

Copying, assembling, and sending the

form to the IRS—20 min.

Frequency of Response: On occasion.

Estimated Total Reporting/

Recordkeeping Burden: 210,000 hours.

OMB Number: 1545–1243.

Regulation Project Number: PS–163–

84 Final.

Type of Review: Extension.

Title: Treatment of Transactions

Between Partners and Partnerships.

Description: Section 707(a)(2)

provides that if there are transfers of

money or property between a partner

and a partnership, the transfer will be

treated, in certain situations, as a

disguised sale between the partner and

the partnership. The regulations provide

that the partner or the partnership

should disclose the transfers and certain

attendant facts in some situations.

Respondents: Business or other forprofit.

Estimated Number of Respondents/

Recordkeepers: 7,500.

Estimated Burden Hours Per

Respondent/Recordkeeper: 20 minutes.

Frequency of Response: Annually.

Estimated Total Reporting/

Recordkeeping Burden: 2,500 hours.

OMB Number: 1545–1255.

Regulation Project Number: INTL–

870–89 NPRM.

Type of Review: Extension.

Title: Earnings Stripping (Section

163(j)).

Description: Certain taxpayers are

allowed to write off the fixed basis of

the stock of an acquired corporation

rather than the adjusted basis of the

assets acquired corporation to elect

special treatment under section 163(j).

Respondents: Business or other forprofit.

Estimated Number of Respondents/

Recordkeepers: 2,300.

Estimated Burden Hours Per

Respondent/Recordkeeper: 31 minutes.

Frequency of Response: Annually.

Estimated Total Reporting/

Recordkeeping Burden: 1,196 hours.

Clearance Officer: Garrick Shear,

Internal Revenue Service, Room 5244,

1111 Constitution Avenue, NW.,

Washington, DC 20224.

OMB Reviewer: Alexander T. Hunt

(202) 395–7860, Office of Management

and Budget, Room 10202, New

Executive Office Building, Washington,

DC 20503.

Lois K. Holland,

Departmental Reports Management Officer.

[FR Doc. 01–12734 Filed 5–18–01; 8:45 am]

BILLING CODE 4830–01–U

DEPARTMENT OF THE TREASURY

Submission for OMB Review;

Comment Request

May 15, 2001.

The Department of Treasury has

submitted the following public

information collection requirement(s) to

OMB for review and clearance under the

Paperwork Reduction Act of 1995,

Public Law 104–13. Copies of the

submission(s) may be obtained by

Federal Register / Vol. 66, No. 98 / Monday, May 21, 2001 / Notices 28029

calling the Treasury Bureau Clearance

Officer listed. Comments regarding this

information collection should be

addressed to the OMB reviewer listed

and to the Treasury Department

Clearance Officer, Department of the

Treasury, Room 2110, 1425 New York

Avenue, NW., Washington, DC 20220.

DATES: Written comments should be

received on or before June 20, 2001 to

be assured of consideration.

Internal Revenue Service (IRS)

OMB Number: 1545–1270.

Regulation Project Number: PS–66–93

and PS–120–90 Final.

Type of Review: Extension.

Title: Gasohol; Compressed Natural

Gas (PS–66–93); and Gasoline Excise

Tax (PS–120–90).

Description: PS–66–93: Buyers of

compressed natural gas for a non taxable

use must give a certificate. Persons who

pay a ‘‘first tax’’ on gasoline must file

a report.

PS–120–90: Gasoline refiners, traders,

terminal operators, chemical companies

a notify each other of their registration

status and/or use of product before

transactions may be made tax-free.

Respondents: Business or other forprofit, Not-for-profit institutions, Farms,

State, Local or Tribal Government.

Estimated Number of Respondents:

3,170.

Estimated Burden Hours Per

Respondents: 7 minutes.

Frequency of Response: On occasion,

Annually.

Estimated Total Reporting Burden:

371 hours.

OMB Number: 1545–1331.

Regulation Project Number: PS–55–89

Final.

Type of Review: Extension.

Title: General Asset Accounts Under

the Accelerated Cost Recovery System.

Description: The regulations describe

the time and manner of making the

election described in Internal Revenue

Code (IRC) section 168(i)(4). Basic

information regarding this election is

necessary to monitor compliance with

the rules in IRC section 168.

Respondents: Business or other forprofit, Farms.

Estimated Number of Respondents:

1,000.

Estimated Burden Hours Per

Respondents: 15 minutes.

Frequency of Response: Annually.

Estimated Total Reporting Burden:

250 hours.

OMB Number: 1545–1338.

Regulation Project Number: PS–103–

90 Final.

Type of Review: Extension.

Title: Election Out of Subchapter K for

Producers of Natural Gas.

Description: Under section 1.761–

2(d)(5)(i), gas producers subject to gas

balancing agreements on the

regulation’s effective date are to file

Form 3115 and certain additional

information to obtain the

Commissioner’s consent to a change in

method of accounting to either of the

two new permissible accounting

methods in the regulations.

Respondents: Business or other forprofit, Individuals or households.

Estimated Number of Respondents:

10.

Estimated Burden Hours Per

Respondents: 30 minutes.

Frequency of Response: Other (one

time only).

Estimated Total Reporting Burden: 5

hours.

OMB Number: 1545–1413.

Regulation Project Number: IA–30–95

Final.

Type of Review: Extension.

Title: Reporting of Nonpayroll

Withheld Tax Liabilities.

Description: These regulations

concern the Secretary’s authority to

require a return of tax under section

6011 and provide for the requirement of

a return by persons deducting and

withholding income tax from

‘‘Nonpayroll’’ payments.

Respondents: Business or other forprofit, Individuals or households, Notfor-profit institutions, Farms, Federal

Government, State, Local or Tribal

Government.

Estimated Number of Respondents: 1.

Estimated Burden Hours Per

Respondents: 1 hour.

Frequency of Response: Annually.

Estimated Total Reporting Burden: 1

hour.

OMB Number: 1545–1433.

Regulation Project Number: CO–11–

91 Final and CO–24–95 Final.

Type of Review: Extension.

Title: Consolidated Groups and

Controlled Groups-Intercompany

Transactions and Related Rules (CO–

11–91); and Consolidated GroupsIntercompany Transactions and Related

Rules (CO–24–95).

Description: The regulations require

common parents that make elections

under Section 1.1502–13 to provide

certain information. The information

will be used to identify and assure that

the amount, location, timing and

attributes of intercompany transactions

and corresponding items are properly

maintained.

Respondents: Business or other forprofit.

Estimated Number of Respondents/

Recordkeepers: 2,200.

Estimated Burden Hours Per

Respondent/Recordkeeper: 29 minutes.

Frequency of Response: On occasion.

Estimated Total Reporting/

Recordkeeping Burden: 1,050 hours.

Clearance Officer: Garrick Shear,

Internal Revenue Service, Room 5244,

1111 Constitution Avenue, NW.,

Washington, DC 20224.

OMB Reviewer: Alexander T. Hunt,

(202) 395–7860, Office of Management

and Budget, Room 10202, New

Executive Office Building, Washington,

DC 20503.

Mary A. Able,

Departmental Reports Management Officer.

[FR Doc. 01–12735 Filed 5–18–01; 8:45 am]

BILLING CODE 4830–01–U

DEPARTMENT OF THE TREASURY

Customs Service

[T.D. 01–41]

Amendments to U.S. Customs

Mitigation Guidelines Pertaining to

Claims Arising From Foreign Trade

Zone Violations

AGENCY: U.S. Customs Service,

Department of the Treasury.

ACTION: General notice.

SUMMARY: This document revises the

‘‘Guidelines for Cancellation for

Liquidated Damages’’ which were

published in the Federal Register as

Treasury Decision 94–38 on April 14,

1994. This document revises the Section

IX portion of those Guidelines which

concerns claims arising from violations

of foreign trade zone regulations. New

provisions are added to that section of

the Guidelines allowing for cancellation

of claims arising from violations of

foreign trade zone regulations, under

certain conditions and limitations, in

instances in which the violator

voluntarily informs Customs of a

violation prior to Customs discovery of

the existence of that violation.

EFFECTIVE DATE: These guidelines will

take effect upon May 21, 2001, and shall

be applicable to all cases which are

currently open at the petition or

supplemental petition stage.

FOR FURTHER INFORMATION CONTACT:

Steven Bratcher, Penalties Branch,

Office of Regulations and Rulings, 202–

927–2328.

SUPPLEMENTARY INFORMATION:

Background

‘‘Guidelines for Cancellation of

Claims for Liquidated Damages’’ were

published in the Federal Register (59

FR 17830) on April 14, 1994, as

Treasury Decision 94–38. Section IX of

these guidelines is entitled ‘‘Guidelines