10346 Federal Register / Vol. 66, No. 31 / Wednesday, February 14, 2001 / Notices

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

8873, Extraterritorial Income Exclusion.

DATES: Written comments should be

received on or before April 16, 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 form and instructions

should be directed to Carol Savage,

(202) 622–3945, Internal Revenue

Service, room 5242, 1111 Constitution

Avenue NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: Extraterritorial Income

Exclusion.

OMB Number: 1545–1722.

Form Number: 8873.

Abstract: The FSC and Extraterritorial

Income Exclusion Act of 2000 added

section 114 to the Internal Revenue

Code. Section 114 provides for an

exclusion from gross income for certain

transactions occurring after September

30, 2000, with respect to foreign trading

gross receipts. Form 8873 is used to

compute the amount of extraterritorial

income excluded from gross income for

the tax year.

Current Actions: There are no changes

being made to the form at this time.

Type of Review: Extension of a

currently approved collection.

Affected Public: Business or other forprofit organizations and individuals.

Estimated Number of Respondents:

1,000,000.

Estimated Time Per Respondent: 25

hours, 58 minutes.

Estimated Total Annual Burden

Hours: 25,970,000.

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: February 9, 2001.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 01–3777 Filed 2–13–01; 8:45 am]

BILLING CODE 4830–01–P

DEPARTMENT OF THE TREASURY

Internal Revenue Service

[LR–200–76]

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 an

existing final regulation, LR–200–76 (TD

8069), Qualified Conservation

Contributions (§ 1.170A–14).

DATES: Written comments should be

received on or before April 16, 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 regulation should be

directed to Larnice Mack, (202) 622–

3179, Internal Revenue Service, room

5244, 1111 Constitution Avenue NW.,

Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: Qualified Conservation

Contributions.

OMB Number: 1545–0763.

Regulation Project Number: LR–200–

76.

Abstract: Internal Revenue Code

section 170(h) describes situations in

which a taxpayer is entitled to a

deduction for a charitable contribution

for conservation purposes of a partial

interest in real property. This regulation

requires a taxpayer claiming a

deduction to maintain records of (1) the

fair market value of the underlying

property before and after the donation

and (2) the conservation purpose of the

donation.

Current Actions: There are no changes

being made to this existing regulation.

Type of Review: Extension of a

currently approved collection.

Affected Public: Individuals or

households, business or other for-profit

organizations, not-for-profit institutions,

farms, and Federal, state, local or tribal

governments.

Estimated Number of Respondents:

1,000.

Estimated Time Per Respondent: 1

hour, 15 minutes.

Estimated Total Annual Burden

Hours: 1,250.

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

Federal Register / Vol. 66, No. 31 / Wednesday, February 14, 2001 / Notices 10347

or start-up costs and costs of operation,

maintenance, and purchase of services

to provide information.

Approved: February 8, 2001.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 01–3778 Filed 2–13–01; 8:45 am]

BILLING CODE 4830–01–P

DEPARTMENT OF THE TREASURY

Internal Revenue Service

Proposed Collection; Comment

Request for Revenue Procedure 98–23

and REG–251701–96

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 98–23, Qualified

Subchapter S Trust Conversions to

Electing Small Business Trusts, and

notice of proposed rulemaking, REG–

251701–96, Electing Small Business

Trust (§ 1.1361–1(m)).

DATES: Written comments should be

received on or before April 16, 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 and/or

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: Revenue Procedure 98–23,

Qualified Subchapter S Trust

Conversions to Electing Small Business

Trusts and REG–251701–96, Electing

Small Business Trust.

OMB Number: 1545–1591.

Revenue Procedure Number: Revenue

Procedure 98–23.

Regulation Project Number: REG–

251701–96.

Abstract: The revenue procedure and

regulation provide a method for

taxpayers to obtain automatic consent to

convert a Qualified Subchapter S Trust

(QSST) to an Electing Small Business

Trust (ESBT) as well as to convert an

ESBT to a QSST.

Current Actions: There are no changes

being made to the revenue procedure

and regulation at this time.

Type of Review: Extension of a

currently approved collection.

Affected Public: Business or other forprofit organizations.

Estimated Number of Respondents:

2,500.

Estimated Time Per Respondent: 1

hour.

Estimated Total Annual Burden

Hours: 2,500.

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,

maintenance, and purchase of services

to provide information.

Approved: February 7, 2001.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 01–3779 Filed 2–13–01; 8:45 am]

BILLING CODE 4830–01–U

DEPARTMENT OF THE TREASURY

Internal Revenue Service

Proposed Collection; Comment

Request for Revenue Procedure 98–25

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 98–25, Automatic

Data Processing.

DATES: Written comments should be

received on or before April, 16, 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: Automatic Data Processing.

OMB Number: 1545–1595.

Revenue Procedure Number: Revenue

Procedure 98–25.

Abstract: Revenue Procedure 98–25

provides taxpayers with comprehensive

guidance on requirements for keeping

and providing IRS access to electronic

tax records. The revenue procedure

requires taxpayers to retain electronic,

or ‘‘machine-sensible’’ records, ‘‘so long

as their contents may become material

to the administration of the internal

revenue laws.’’ Such materiality would

continue, according to IRS, at least until

the period of limitations, including

extensions, expires for each tax year.

Type of Review: Extension of a

currently approved collection.

Affected Public: Individuals or

households, business or other for-profit

organizations, not-for-profit institutions,

farms, Federal government, and state,

local or tribal governments.

Estimated Number of Respondents:

3,000.

Estimated Time Per Respondent: 40

hours.