Federal Register / Vol. 66, No. 35 / Wednesday, February 21, 2001 / Notices 11099

maintenance, and purchase of services

to provide information.

Approved: February 12, 2001.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 01–4294 Filed 2–20–01; 8:45 am]

BILLING CODE 4830–01–P

DEPARTMENT OF THE TREASURY

Internal Revenue Service

Proposed Collection; Comment

Request for Form 8865

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

8865, Return of U.S. Persons With

Respect to Certain Foreign Partnerships.

DATES: Written comments should be

received on or before April 23, 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(s) 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: Return of U.S. Persons With

Respect to Certain Foreign Partnerships.

OMB Number: 1545–1668.

Form Number: 8865.

Abstract: The Taxpayer Relief Act of

1997 significantly modified the

information reporting requirements with

respect to foreign partnerships. The Act

made the following three changes: (1)

expanded Code section 6038B to require

U.S. persons transferring property to

foreign partnerships in certain

transactions to report those transfers; (2)

expanded Code section 6038 to require

certain U.S. partners of controlled

foreign partnerships to report

information about the partnerships; and

(3) modified the reporting required

under Code section 6046A with respect

to acquisitions and dispositions of

foreign partnership interests. Form 8865

is used by U.S. persons to fulfill their

reporting obligations under Code

sections 6038B, 6038, and 6046A.

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, individuals, and

not-for-profit institutions.

Estimated Number of Respondents:

5,000.

Estimated Time Per Respondent: 88

hours, 55 minutes.

Estimated Total Annual Burden

Hours: 444,600.

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 13, 2000.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 01–4295 Filed 2–20–01; 8:45 am]

BILLING CODE 4830–01–U