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 Department of the Treasury
 DATES: Written comments should be received on or before April 2, 2001 to be assured of consideration. Internal Revenue Service (IRS) *OMB Number:*
                     1545-1036. *Form Number:*
                    IRS Form 8716. *Type of Review:*
                    Extension. *Title:*
                    Election to Have a Tax Year Other Than a Required Tax Year. *Description:*
                    Filed by partnerships, S Corporations, and personal service corporations, under section 444(a), to retain or to adopt a tax year that is not a required tax year. Service Centers accept Form 8716 and use the form information to assign master-file codes that allow the Center to accept the filer's tax returned filed for a tax year (fiscal year) that would not otherwise be acceptable. *Respondents:*
                    Business or other for-profit, Farms. *Estimated Number of Respondents/Recordkeepers:*
                    40,000. *Estimated Burden Hours Per Respondent/Recordkeepers:* Recordkeeping
2 hr., 37 min.Learning about the law and the form
1 hr., 12 min.Preparing and sending the form to the IRS
1 hr., 16 min.
 *Frequency of Response:*
                    Other (one-time). *Estimated Total Reporting/Recordkeeping Burden:*
                    204,400 hours. *OMB Number:*
                    1545-1219. *Form Number:*
                    IRS Form 8038-T. *Type of Review:*
                    Extension. *Title:*
                    Arbitrage Rebate and Penalty in Lieu of Arbitrage Rebate. *Description:*
                    Form 8038-T is used by issuers of tax exempt bonds to report and pay the arbitrage rebate and to elect and/or pay various penalties associated with arbitrage bonds. These issuer's include state and local governments. *Respondents:*
                    State, Local or Tribal Government. *Estimated Number of Respondents/Recordkeepers:*
                    2,500. *Estimated Burden Hours Per Respondent/Recordkeeper:* Recordkeeping
12 hr., 12 min.Learning about the law or the form
8 hr., 21 min.Preparing, copying, assembling, and sending the form to the IRS
8 hr., 54 min.
 
 
 *Frequency of Response:*
                     Other (at least once every five years). *Estimated Total Reporting/Recordkeeping Burden:*
                    73,625 hours. *OMB Number:*
                    1545-1569. *Form Number:*
                    IRS Form 8861. *Type of Review:*
                    Extension. *Title:*
                    Welfare-to-Work Credit. *Description:*
                    Section 51A of the Internal Revenue Code allows employers an income credit of 35% of the first $10,000 of first-year wages and 50% of the first $10,000 of second-year wages paid to long-term family assistance recipients. The credit is part of the general business credit. *Respondents:*
                    Business or other for-profit, farms. *Estimated Number of Respondents/Recordkeepers:*
                    500. *Estimated Burden Hours Per Respondent/Recordkeeper:* Recordkeeping
8 hr., 7 min.Learning about the law or the form
1 hr., 35 min.Preparing and sending the form to the IRS
1 hr., 48 min.
 *Frequency of Response:*
                    Annually. *Estimated Total Reporting/Recordkeeping Burden:*
                    5,755 hours. *Estimated Total Reporting Burden:*
                    8,000 hours. *Clearance Officer:*
                    Garrick Shear, Internal Revenue Service, Room 5244, 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. Lois K. Holland, Departmental Reports Management Officer.


[FR Doc. 01-5040 Filed 3-1-01; 8:45 am] BILLING CODE 4830-01-U