Public Information Collection Requirements Submitted to OMB for Review

DEPARTMENT OF THE TREASURY

Public Information Collection Requirements Submitted to OMB for

Review

September 1, 1994.

The Department of Treasury has submitted the following public

information collection requirement(s) to OMB for review and clearance

under the Paperwork Reduction Act of 1980, Public Law 96-511. Copies of

the submission(s) may be obtained by calling the Treasury Bureau

Clearance Officer listed. Comments regarding this information

collection should be addressed to the OMB reviewer listed and to the

Treasury Department Clearance Officer, Department of the Treasury, Room

2110, 1425 New York Avenue, NW., Washington, DC 20220.

Internal Revenue Service (IRS)

OMB Number: 1545-0241

Form Number: IRS Form 6177

Type of Review: Extension

Title: General Assistance Program Determination

Description: Internal Revenue Code (IRC) section 51 gives employers a

jobs credit for hiring certain general assistance (welfare) program

recipients. IRC section 51(d)(6)(B) requires that the state or local

general assistance program be certified as a qualified program. The

information on Form 6177 is used to determine if a program is

qualified.

Respondents: State or local governments

Estimated Number of Respondents: 1,500

Estimated Burden Hours Per Respondent: 10 minutes

Frequency of Response: On occasion

Estimated Total Reporting Burden: 250 hours

OMB Number: 1545-0956

Form Number: IRS Form 5500-EZ

Type of Review: Revision

Title: Annual Return of One-Participant (Owners and Their Spouses)

Pension Benefit Plan

Description: Form 5500-EZ is an annual return filed by a one-

participant or one-participant and spouse pension plan. The IRS uses

this data to determine if the plan appears to be operating properly as

required under the law or whether the plan should be audited.

Respondents: Farms, Businesses or other for-profit, Small businesses or

organizations

Estimated Number of Respondents/Recordkeepers: 50,000

Estimated Burden Hours Per Respondent/Recordkeeper:

Recordkeeping--11 hr., 29 min.

Learning about the law or the form--1 hr., 4 min.

Preparing the form--2 hr., 14 min.

Copying, assembling and sending the form to the IRS--16 min.

Frequency of Response: Annually

Estimated Total Reporting/Recordkeeping Burden: 752,000 hours

OMB Number: 1545-1034

Form Number: IRS Form 8582-CR

Type of Review: Revision

Title: Passive Activity Credit Limitations

Description: Under section 469, credits from passive credits from

passive activities, to the extent they do not exceed the tax

attributable to net passive income are not allowed. Form 8582-CR issued

to figure the passive activity credit allowed and the amount of credit

to be reported on the tax return. Worksheets 1, 2, 3, and 4 of Form

8582-CR and worksheets 5 through 9 are used to allocate the credits

allowed to the individual activities.

Respondents: Individuals or households, Farms, Businesses or other for-

profit

Estimated Number of Respondents/Recordkeepers: 900,000

Estimated Burden Hours Per Respondent/Recordkeeper:

Recordkeeping--2 hr., 5 min.

Learning about the law or the form--4 hr., 9 min.

Preparing the form--3 hr., 6 min.

Copying, assembling and sending the form to the IRS--2 hr., 11 min.

Frequency of Response: Annually

Estimated Total Reporting/Recordkeeping Burden: 5,402,700 hours

OMB Number: 1545-1035

Form Number: IRS Form 8611

Type of Review: Extension

Title: Recapture of Low-Income Housing Credit

Description: Internal Revenue Code (IRC) section 42 permits owners of

residential rentals projects providing low-income housing to claim a

credit against their income tax. If the property is disposed of or it

fails to meet certain requirements over a 15-year compliance period and

a bond is not posted, the owner must recapture on Form 8611 part of the

credit(s) taken in prior years.

Respondents: Individuals or households, Businesses or other for-profit,

Small businesses or organizations

Estimated Number of Respondents/Recordkeepers: 1,200

Estimated Burden Hours Per Respondent/Recordkeeper:

Recordkeeping--5 hr., 59 min.

Learning about the law or the form--1 hr., 5 min.

Preparing and sending the form to the IRS--1 hr., 14 min.

Frequency of Response: On occasion

Estimated Total Reporting/Recordkeeping Burden: 9,972 hours

OMB Number: 1545-1110

Form Number: IRS Form 940-EZ

Type of Review: Revision

Title: Employer's Annual Federal Unemployment (FUTA) Tax Return

Description: Form 940-EZ is a simplified form that most employers with

uncomplicated tax situations (e.g., only pay unemployment contributions

to one state and paying them on time) can use to pay their FUTA tax.

Most small businesses and household employers use the form.

Respondents: Individuals or households, Farms, Businesses or other for-

profit, Small businesses or organizations

Estimated Number of Respondents/Recordkeepers: 4,089,000

Estimated Burden Hours Per Respondent/Recordkeeper:

Recordkeeping--6 hr., 23 min.

Learning about the law or the form--7 min.

Preparing and sending the form to the IRS--34 min.

Frequency of Response: Annually

Estimated Total Reporting/Recordkeeping Burden: 26,882,133 hours

OMB Number: 1545-1282

Form Number: IRS Form 8830

Type of Review: Extension

Title: Enhanced Oil Recovery Credit

Description: The enhanced oil recovery (EOR) credit is 15% of qualified

costs paid or incurred during the year. The purpose is to get more oil

from the wells. The IRS uses the information on the form of ensure that

the credit is correctly computed.

Respondents: Individuals or households, Businesses or other for-

profit, Small businesses or organizations

Estimated Number of Respondents/Recordkeepers: 10,000

Estimated Burden Hours Per Respondent/Recordkeeper:

Recordkeeping--5 hr., 16 min.

Learning about the law or the form--47 min.

Preparing and sending the form to the IRS--55 min.

Frequency of Response: Annually

Estimated Total Reporting/Recordkeeping Burden: 71,700 hours

Clearance Officer: Garrick Shear (202) 622-3869, Internal Revenue

Service, Room 5571, 1111 Constitution Avenue, N.W., Washington, DC

20224

OMB Reviewer: Milo Sunderhauf (202) 395-7340, Office of Management and

Budget, Room 10226, New Executive Office Building, Washington, DC

20503.

Lois K. Holland,

Departmental Reports, Management Officer.

[FR Doc. 94-22110 Filed 9-7-94; 8:45 am]

BILLING CODE 4830-01-P