Federal Register / Vol. 61, No. 101 / Thursday, May 23, 1996 / Notices 25937

long as the Company remains qualified

(31 CFR part 223). A list of qualified

companies is published annually as of

July 1, in the Department Circular 570,

which outlines details as to

underwriting limitations, areas in which

licensed to transact surety business and

other information. Federal bondapproving officers should annotate their

reference copies of the Treasury Circular

570, 1995 Revision, at page 34446 to

reflect this change.

The Circular may be viewed or

downloaded by calling the U.S.

Department of the Treasury, Financial

Management Service, computerized

public bulletin board system (FMS

Inside Line) at (202) 874–6817/7034/

6953/6872. A hard copy may be

purchased from the Government

Printing Office (GPO), Washington, DC,

telephone (202) 512–0132. When

ordering the Circular from GPO, use the

following stock number: 048–000–

00489–0.

Questions concerning this notice may

be directed to the U.S. Department of

the Treasury. Financial Management

Service, Funds Management Division,

Surety Bond Branch, 3700 East-West

Highway, Room 6F04, Hyattsville, MD

20782, telephone (202) 874–6765.

Dated: May 15, 1996.

Charles F. Schwan III,

Director, Funds Management Division,

Financial Management Service.

[FR Doc. 96–12990 Filed 5–22–96; 8:45 am]

BILLING CODE 4810–35–M

Internal Revenue Service

Proposed Collection; Comment

Request for Form 1040

AGENCY: Internal Revenue Service (IRS),

Treasury.

ACTION: Notice and request for

comments.

SUMMARY: The Department of the

Treasury, as part of its continuing effort

to reduce paperwork and respondent

burden, invites the general public and

other Federal agencies to take this

opportunity to comment on proposed

and/or continuing information

collections, as required by the

Paperwork Reduction Act of 1995, P.L.

104–13 (44 U.S.C. 3506(c)(2)(A)).

Currently, the IRS is soliciting

comments concerning revisions to Form

1040, U.S. Individual Income Tax

Return, and Schedules C, EIC, and F.

DATES: Written comments should be

received on or before July 22, 1996 to be

assured of consideration.

ADDRESSES: Direct all written comments

to Garrick R. Shear, Internal Revenue

Service, room 5571, 1111 Constitution

Avenue NW., Washington, DC 20224.

FOR FURTHER INFORMATION CONTACT:

Requests for additional information or

copies of the information collection

should be directed to Martha R. Brinson,

(202) 622–3869, Internal Revenue

Service, room 5571, 1111 Constitution

Avenue NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: U.S. Individual Income Tax

Return.

OMB Number: 1545–0074.

Form Number: 1040.

Abstract: Form 1040 and its schedules

are used by individuals to report their

income subject to tax and compute their

correct tax liability. The information is

used to verify that the items reported on

the forms and schedules are correct, and

is also for general statistical use.

Current Actions:

Changes to Form 1040

1. Lines 60b, c, and d, requesting

direct deposit information, were added

to page 2. This will increase the number

of taxpayers electing direct deposit, and

relieve taxpayers from the burden of

having to attach Form 8888, Direct

Deposit of Refund. Form 8888 will

become obsolete.

2. Line 33b, which had indicated that

the taxpayer could be claimed as a

dependent on someone else’s return,

was deleted to make room for the direct

deposit information.

3. Line 38 was revised and lines 39

and 40 were deleted. In addition to

making room for the direct deposit

lines, this change reduces taxpayer

burden by removing checkboxes and

entry spaces.

4. Line 62b was added to facilitate

processing of returns when payment is

made using Form 1040–V.

5. Line 49, recapture taxes, was

deleted due to low usage. Those taxes

are now reported on line 51, total tax.

6. Most of the page references to the

instructions were deleted because

information will not be on the same

pages in the instructions sent to some

taxpayers. Instead, page references are

indicated on pages 2 and 3 of the

instructions.

7. The checkbox on line 52, indicating

Form 1099 Federal Income Tax

Withheld was included on that line, was

deleted to reduce taxpayer burden.

8. The exemption area on Form 1040,

page 1, was revised to reduce taxpayer

burden. Columns 3 and 4 on line 6c,

which were for the dependent’s

relationship, and the number of months

lived in the taxpayer’s home, were

deleted. Line 6c, column 2, was revised

to reflect section 742(c)(2)(B) of PL 103–

465 which, for 1996, exempts taxpayers

who have a dependent born after

November 30, 1996, from the

requirement to report the dependent’s

social security number. The entry

spaces to the right of line 6c were

revised and line 6d, which dealt with

pre-1985 custody agreements, was

deleted.

Changes to Schedule C

Questions G and H that were on page

1 of the 1995 schedule were moved to

Part III, Cost of Goods Sold (new lines

33 and 34) and the remaining questions

were relettered. This will reduce

taxpayer burden because only those

taxpayers with inventory will have to

consider these questions.

Changes to Schedule EIC

The line 4 text on page 2 was revised

to reflect section 742(c)(2)(B) of Pub. L.

103–465 which, for 1996, exempts

taxpayers claiming the EIC from

reporting a social security number for an

individual born after November 30,

1996. Changes to Schedule F

Line 14 was revised by deleting

‘‘Attach Form 8645’’ and adding ‘‘(see

page F–4).’’ Form 8645 will be obsolete

for 1996. The instructions for line 14

were expanded to explain that an

approved conservation plan is required

to take this deduction.

The instructions will be revised to

reflect the changes made to Form 1040

and its schedules.

Type of Review: Extension of a

currently approved collection.

Affected Public: Individuals or

households.

Estimated Number of Respondents:

66,244,569.

Estimated Time Per Respondent:

Varies.

Estimated Total Annual Burden

Hours: 1,128,204,754.

REQUEST FOR COMMENTS: Comments

submitted in response to this notice will

be summarized and/or included in the

request for OMB approval. All

comments will become a matter of

public record. Comments are invited on:

(a) Whether the collection of

information is necessary for the proper

performance of the functions of the

agency, including whether the

information shall have practical utility;

(b) the accuracy of the agency’s estimate

of the burden of the collection of

information; (c) ways to enhance the

quality, utility, and clarity of the

information to be collected; and (d)

ways to minimize the burden of the

collection of information on

respondents, including through the use

of automated collection techniques or

other forms of information technology.
25938 Federal Register / Vol. 61, No. 101 / Thursday, May 23, 1996 / Notices

Approved: May 15, 1996.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 96–13032 Filed 5–22–96; 8:45 am]

BILLING CODE 4830–01–U