Federal Register / Vol. 66, No. 25 / Tuesday, February 6, 2001 / Notices 9141

Revenue Procedure 2001–24, Advanced

Insurance Commissions.

DATES: Written comments should be

received on or before April 9, 2001 to

be assured of consideration.

ADDRESSES: Direct all written comments

to Garrick R. Shear, Internal Revenue

Service, room 5244, 1111 Constitution

Avenue NW., Washington, DC 20224.

FOR FURTHER INFORMATION CONTACT:

Requests for additional information or

copies of the revenue procedure should

be directed to Carol Savage, (202) 622–

3945, Internal Revenue Service, room

5242, 1111 Constitution Avenue NW.,

Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: Advanced Insurance

Commissions.

OMB Number: 1545–1736.

Revenue Procedure Number: Revenue

Procedure 2001–24.

Abstract: A taxpayer that wants to

obtain automatic consent to change its

method of accounting for cash advances

on commissions paid to its agents must

agree to the specified terms and

conditions under the revenue

procedure. This agreement is ratified by

attaching the required statement to the

federal income tax return for the year of

change.

Current Actions: There are no changes

being made to the revenue procedure at

this time.

Type of Review: Extension of a

currently approved collection.

Affected Public: Business or other forprofit organizations.

Estimated Number of Respondents:

5,270.

Estimated Time Per Respondent: 15

minutes.

Estimated Total Annual Burden

Hours: 1,318.

The following paragraph applies to all

of the collections of information covered

by this notice:

An agency may not conduct or

sponsor, and a person is not required to

respond to, a collection of information

unless the collection of information

displays a valid OMB control number.

Books or records relating to a collection

of information must be retained as long

as their contents may become material

in the administration of any internal

revenue law. Generally, tax returns and

tax return information are confidential,

as required by 26 U.S.C. 6103.

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: January 30, 2001.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 01–3084 Filed 2–5–01; 8:45 am]

BILLING CODE 4830–01–P

DEPARTMENT OF THE TREASURY

Internal Revenue Service

Proposed Collection; Comment

Request for Revenue Procedure

2001–20

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

Revenue Procedure 2001–20, Voluntary

Compliance on Alien Withholding

Program (‘‘VCAP’’).

DATES: Written comments should be

received on or before April 9, 2001 to

be assured of consideration.

ADDRESSES: Direct all written comments

to Garrick R. Shear, Internal Revenue

Service, room 5244, 1111 Constitution

Avenue NW., Washington, DC 20224.

FOR FURTHER INFORMATION CONTACT:

Requests for additional information or

copies of the revenue procedure should

be directed to Carol Savage, (202) 622–

3945, Internal Revenue Service, room

5242, 1111 Constitution Avenue NW.,

Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: Voluntary Compliance on Alien

Withholding Program (‘‘VCAP’’).

OMB Number: 1545–1735.

Revenue Procedure Number: Revenue

Procedure 2001–20.

Abstract: The revenue procedure will

improve voluntary compliance of

colleges and universities in connection

with their obligations to report,

withhold and pay taxes due on

compensation paid to foreign students

and scholars (nonresident aliens). The

revenue procedure provides an optional

opportunity for colleges and universities

which have not fully complied with

their tax obligations concerning

nonresident aliens to self-audit and

come into compliance with applicable

reporting and payment requirements.

Current Actions: There are no changes

being made to the revenue procedure at

this time.

Type of Review: Extension of a

currently approved collection.

Affected Public: Not-for-profit

institutions, and state, local or tribal

governments.

Estimated Number of Respondents:

495.

Estimated Time Per Respondent: 700

hours.

Estimated Total Annual Burden

Hours: 346,500.

The following paragraph applies to all

of the collections of information covered

by this notice:

An agency may not conduct or

sponsor, and a person is not required to

respond to, a collection of information

unless the collection of information

displays a valid OMB control number.

Books or records relating to a collection

of information must be retained as long

as their contents may become material

in the administration of any internal

revenue law. Generally, tax returns and

tax return information are confidential,

as required by 26 U.S.C. 6103.

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,

9142 Federal Register / Vol. 66, No. 25 / Tuesday, February 6, 2001 / Notices

maintenance, and purchase of services

to provide information.

Approved: January 31, 2001.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 01–3085 Filed 2–5–01; 8:45 am]

BILLING CODE 4830–01–P

DEPARTMENT OF THE TREASURY

Internal Revenue Service

[TD 8223, TD 8432, and TD 8657]

Proposed Collection; Comment

Request for Regulation Project

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 existing

final and temporary regulations, TD

8223, Branch Tax; TD 8432, Branch

Profits Tax; and TD 8657, Regulations

on Effectively Connected Income and

the Branch Profits Tax (§§ 1.884–1,

1.884–2, 1.884–2T, 1.884–4, 1.884–5).

DATES: Written comments should be

received on or before April 9, 2001 to

be assured of consideration.

ADDRESSES: Direct all written comments

to Garrick R. Shear, Internal Revenue

Service, room 5244, 1111 Constitution

Avenue NW., Washington, DC 20224.

FOR FURTHER INFORMATION CONTACT:

Requests for additional information or

copies of the regulations should be

directed to Carol Savage, (202) 622–

3945, Internal Revenue Service, room

5242, 1111 Constitution Avenue NW.,

Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: TD 8223, Branch Tax; TD 8432,

Branch Profits Tax; and TD 8657,

Regulations on Effectively Connected

Income and the Branch Profits Tax.

OMB Number: 1545–1070.

Regulation Project Number: TD 8223,

TD 8432, and TD 8657.

Abstract: These regulations provide

guidance on how to comply with

Internal Revenue Code section 884,

which imposes a tax on the earnings of

a foreign corporation’s branch that are

removed from the branch and which

subjects interest paid by the branch, and

certain interest deducted by the foreign

corporation, to tax.

Current Actions: There is no change to

these existing regulations.

Type of Review: Extension of a

currently approved collection.

Affected Public: Business or other forprofit organizations.

Estimated Number of Respondents:

28,500.

Estimated Time Per Respondent: 27

minutes.

Estimated Total Annual Burden

Hours: 12,694.

The following paragraph applies to all

of the collections of information covered

by this notice:

An agency may not conduct or

sponsor, and a person is not required to

respond to, a collection of information

unless the collection of information

displays a valid OMB control number.

Books or records relating to a collection

of information must be retained as long

as their contents may become material

in the administration of any internal

revenue law. Generally, tax returns and

tax return information are confidential,

as required by 26 U.S.C. 6103.

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: January 31, 2001.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 01–3086 Filed 2–5–01; 8:45 am]

BILLING CODE 4830–01–P

DEPARTMENT OF THE TREASURY

Internal Revenue Service

Privacy Act of 1974, as Amended;

System of Records

AGENCY: Internal Revenue Service,

Treasury.

ACTION: Notice of proposed new system

of records.

SUMMARY: In accordance with the

requirements of the Privacy Act of 1974,

5 U.S.C. 552a, as amended, the

Department of the Treasury, Internal

Revenue Service, gives notice of a

proposed system of records entitled,

‘‘Employee Tax Compliance Records

(ETC)—Treasury/IRS 36.888.’’ The

Employee Tax Compliance Records

were previously covered under

Treasury/IRS 36.003—General

Personnel and Payroll Records.

However, these records have changed

and become distinct enough to warrant

a new system of records.

DATES: Comments must be received no

later than March 8, 2001. The proposed

system of records will be effective

March 19, 2001 unless comments are

received that result in a contrary

determination.

ADDRESSES: Comments should be sent to

the IRS Freedom of Information Reading

Room, Room 1621, 1111 Constitution

Avenue, NW., Washington, DC 20224.

Comments will be made available for

inspection at the IRS Freedom of

Information Reading Room also located

at room 1621, 1111 Constitution

Avenue, NW. The telephone number for

the Reading Room is (202) 622–5164.

FOR FURTHER INFORMATION CONTACT:

Sharon M. Oliver, Acting Director,

Office of Workforce Relations, Internal

Revenue Service, Room 1515, 1111

Constitution Avenue, NW., Washington,

DC 20224. Her telephone number is

(202) 622–7542. (This is not a toll free

number).

SUPPLEMENTARY INFORMATION: The

Employee Tax Compliance Records

(ETC) are used to detect potential noncompliance of IRS employees with the

Federal tax law. The ETC records will

increase the IRS’ ability to ensure

employee compliance with Federal tax

law. The development of the Employee

Tax Compliance Program was

precipitated by the need to comply with

the Office of Government Ethics Title 5

Code of Federal Regulations 2635.809.

These records were previously covered

under Treasury/IRS 36.003—General

Personnel and Payroll Records.

However, over time these records have

become distinct enough to warrant a

new system of records.