32476 Federal Register / Vol. 61, No. 122 / Monday, June 24, 1996 / Notices

Service, room 5571, 1111 Constitution

Avenue NW, Washington, DC 20224.

FOR FURTHER INFORMATION CONTACT:

Requests for additional information or

copies of the form(s) and instructions

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. Income Tax Return of a

Foreign Corporation.

OMB Number: 1545–0126.

Form Number: 1120–F.

Abstract: Form 1120–F is used by

foreign corporations that have

investments, or a business, or a branch

in the U.S. The IRS uses Form 1120–F

to determine if the foreign corporation

has correctly reported its income,

deductions, and tax, and to determine if

it has paid the correct amount of tax.

Current Actions: On page 4 of Form

1120–F, Schedule J, Line 4c was revised

to remove the checkboxes for Form 5884

(Jobs Credit) and Form 6765 (Credit for

Increasing Research Activities). The jobs

credit under Internal Revenue Code

section 51 has expired for employees

who began work after 1994. The

research credit under Code section 41

expired June 30, 1995. There will be a

write-in entry on line 5 for qualifying

credits passed through to the

corporation from 1995–1996 fiscal year

partnerships.

Line 8b of Schedule J, the

environmental tax, was deleted. This tax

(Code section 59A) does not apply for

tax years that begin after December 31,

1995.

A new schedule of interest expense of

foreign corporations computed in

accordance with Treasury Regulations

section 1.882–5 was added to the

instructions for line 18 of Section II,

Income Effectively Connected With the

Conduct of a Trade or Business in the

United States. This schedule will enable

foreign corporations to more accurately

compute their interest deduction related

to income effectively connected with

the conduct of a U.S. trade or business

in accordance with Regulations section

1.882–5.

Type of Review: Revision of a

currently approved collection.

Affected Public: Businesses or other

for-profit organizations.

Estimated Number of Respondents:

18,000.

Estimated Time Per Respondent: 230

hrs. 31 min.

Estimated Total Annual Burden

Hours: 4,149,360.

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; (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; and (e) estimates of capital

or start-up costs and costs of operation,

maintenance, and purchase of services

to provide information.

Approved: June 7, 1996.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 96–15922 Filed 6–21–96; 8:45 am]

BILLING CODE 4830–01–U

Proposed Collection; Comment

Request for Form W–4P

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,

Public Law 104–13 (44 U.S.C.

3506(c)(2)(A)). Currently, the IRS is

soliciting comments concerning Form

W–4P, Withholding Certificate for

Pension or Annuity Payments.

DATES: Written comments should be

received on or before August 23, 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 form(s) and instructions

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: Withholding Certificate for

Pension or Annuity Payments.

OMB Number: 1545–0415.

Form Number: W–4P.

Abstract: Form W–4P is used by the

recipient of pension or annuity

payments to designate the number of

withholding allowances he or she is

claiming, an additional amount to be

withheld, or to elect that no tax be

withheld, so that the payer can

withhold the proper amount.

Current Actions: There are no changes

being made to this form at this time.

Type of Review: Extension of a

currently approved collection.

Affected Public: Individuals or

households.

Estimated Number of Respondents:

12,000,000.

Estimated Time Per Respondent: 1 hr.

47 min.

Estimated Total Annual Burden

Hours: 21,480,000.

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; (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; and (e) estimates of capital

or start-up costs and costs of operation,

maintenance, and purchase of services

to provide information.

Approved: June 12, 1996.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 96–15923 Filed 6–21–96; 8:45 am]

BILLING CODE 4830–01–U

Proposed Collection; Comment

Request for Forms 8329 and 8330

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