Document Headings

                    Document headings vary by document type but may contain                    the following:                  
                -                       the agency or agencies that issued and signed a document                    
                -                       the number of the CFR title and the number of each part                      the document amends, proposes to amend, or is directly                      related to                    
                -                       the agency docket number / agency internal file number                    
                -                       the RIN which identifies each regulatory action listed in                      the Unified Agenda of Federal Regulatory and Deregulatory                      Actions                    

                    See the                                          Document Drafting Handbook                                        for more details.                  

###### Department of the Treasury

# DATES:

Written comments should be received on or before January 18, 2002 to be assured of consideration. 

## Internal Revenue Service (IRS) 

*OMB Number:*                     1545-1628.                 

*Regulation Project Number:*                     REG-118620-97 Final.                 

*Type of Review:*                     Extension.                 

*Title:*                     Communications Excise Tax; Prepaid Telephone Cards.                 

*Description:*                     Carriers must keep certain information documenting their sales of prepaid telephone cards to other carriers to avoid responsibility for collecting tax. The regulations provide rules for the application of the communications excise tax to prepaid telephone cards.                 

*Respondents:*                     Business or other for-profit.                 

*Estimated Number of Respondents/Recordkeepers:*                     104.                 

*Estimated Burden Hours Per Respondent/Recordkeeper:*                     20 minutes.                 

*Frequency of Response:*                     On occasion.                 

*Estimated Total Reporting/Recordkeeping Burden:*                     34 hours.                 

*OMB Number:*                     1545-1637.                 

*Regulation Project Number:*                     REG-106177-98 Final.                 

*Type of Review:*                     Extension.                 

*Title:*                     Adequate Disclosure of Gifts.                 

*Description:*                     The information requested in regulation section 301.6501(c)-1(f)(2) that must be provided on a gift tax return is necessary to give the IRS a complete and accurate description of the transfer in order to begin the running of the statute of limitations on the gift. Prior to the expiration of the statute of limitations, a gift tax may be assessed and the value may be adjusted in order to determine the value of prior taxable gifts for estate and gift tax purposes.                 

*Respondents:*                     Individuals or households.                           ( print page 65531)    

*Estimated Number of Respondents:*                     1.                 

*Estimated Burden Hours Per Respondent:*                     1 hour.                 

*Frequency of Response:*                     On occasion.                 

*Estimated Total Reporting Burden:*                     1 hour.                 

*OMB Number:*                     1545-1642.                 

*Regulation Project Number:*                     REG-104072-97 Final.                 

*Type of Review:*                     Extension.                 

*Title:*                     Recharacterizing Financing Arrangements Involving Fast-Pay Stock.                 

*Description:*                     Section 1.7701(1)-3 recharacterizes fast-pay arrangements. Certain participants in such arrangements must file a statement that includes the name of the corporation that issued the fast-pay stock, and (to the extent the filing taxpayer knows or has reason to know) the terms of the fast-pay stock, the date on which it was issued, and the names and taxpayer identification numbers of any shareholders of any class of stock that is not traded on an established securities market.                 

*Respondents:*                     Business or other for-profit.                 

*Estimated Number of Respondents:*                     50.                 

*Estimated Burden Hours Per Respondent:*                     1 hour.                 

*Frequency of Response:*                     Annually.                 

*Estimated Total Reporting Burden:*                     50 hours.                

Clearance Officer: George Freeland, Internal Revenue Service, Room 5577, 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. 01-31191 Filed 12-18-01; 8:45 am] 

BILLING CODE 4830-01-P