Public Information Collection Requirements Submitted to OMB for Review

DEPARTMENT OF THE TREASURY

Public Information Collection Requirements Submitted to OMB for

Review

August 8, 1995.

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: 1545-0145.

Form Number: IRS Form 2439.

Type of Review: Extension.

Title: Notice to Shareholder of Undistributed Long-Term Capital

Gains.

Description: Form 2439 is sent by regulated investment companies to

their shareholders to report undistributed capital gains and the amount

of tax paid on these gains designated under Internal Revenue Code (IRC)

section 852(b)(3)(D). Both the company and shareholder file copies of

Form 2439 with IRS. IRS uses the information to check shareholder

compliance.

Respondents: Business or other for-profit.

Estimated Number of Respondents/Recordkeepers: 100.

Estimated Burden Hours Per Respondent/Recordkeeper:

Recordkeeping--1 hr., 55 min.

Learning about the law or the form--6 min.

Preparing and sending the form to the IRS--8 min.

Frequency of Response: Annually.

Estimated Total Reporting/Recordkeeping Burden: 21,500 hours.

OMB Number: 1545-0301.

Form Number: IRS Form 1117(c).

Type of Review: Extension.

Title: Confirmation Letter.

Description: It is necessary to directly communicate with taxpayers

and/or other knowledgeable parties to obtain verification of

information such as the correct amount of tax due, returns filed, etc..

Response information is used to determine the accuracy of tax and

general ledger accounts, etc.. Affected public: Taxpayers.

Respondents: Individuals or households, Business or other for-

profit, Not-for-profit institutions, Farms, Federal Government, State,

Local or Tribal Government.

Estimated Number of Respondents: 4,200.

Estimated Burden Hours Per Respondent: 15 minutes.

Frequency of Response: On occasion.

Estimated Total Reporting Burden: 1,050 hours.

OMB Number: 1545-0796.

Form Number: IRS Form 6524.

Type of Review: Extension.

Title: Office of Chief Counsel Application.

Description: The Chief Counsel Application form provides data we

deem critical for evaluating attorney applicant's qualifications such

as LSAT score, bar admission status, type of work preference, law

school, class standing. OF-306 does not provide this information.

Respondents: Individuals or households.

Estimated Number of Respondents: 3,000.

Estimated Burden Hours Per Respondent: 18 minutes.

Frequency of Response: On occasion.

Estimated Total Reporting Burden: 900 hours.

OMB Number: 1545-1155.

Regulation ID Number: PS-74-89 Final (T.D. 8282).

Type of Review: Extension.

Title: Election of Reduced Research Credit.

Description: These regulations prescribe the procedure for making

the election described in section 280C(c)(3) of the Internal Revenue

Code. Taxpayers making this election must reduce their section 41(a)

research credit, but are not required to reduce their deductions for

qualified research expenses, as required in paragraphs (1) and (2) of

section 280C(c).

Respondents: Business or other for-profit, Individuals or

households.

Estimated Number of Respondents: 200.

Estimated Burden Hours Per Respondent: 15 minutes.

Frequency of Response: Annually.

Estimated Total Reporting Burden: 50 hours.

OMB Number: 1545-1356.

Regulation ID Number: IA-003-89 Final.

Type of Review: Extension.

Title: Recovery of Reasonable Administrative Costs.

Description: These regulations provide guidance with respect to the

recovery of administrative costs incurred in connection with an

administrative proceedings before the Internal Revenue Service.

``Reasonable administrative costs'' are defined as is the period within

which such costs must be incurred. Procedures that must be followed to

recover such costs are also set forth.

Respondents: Business or other for-profit, Individuals or

households, Not-for-profit institutions, Farms.

Estimated Number of Respondents: 8,000.

Estimated Burden Hours Per Respondent: 2 hours.

Frequency of Response: On occasion.

Estimated Total Reporting Burden: 16,000 hours.

OMB Number: 1545-1357.

Regulation ID Number: PS-50-92 Final.

Type of Review: Extension.

Title: Rules to Carry Out the Purposes of Section 42 and for

Correcting Administrative Errors and Omissions.

Description: These regulations concern the Secretary's authority to

provide guidance under section 42, and provide for the correction of

administrative errors and omissions related to the allocation of low-

income housing credit dollar amounts and recordkeeping.

Respondents: Business or other for-profit, Individuals or

households, Not-for-profit institutions, State, Local or Tribal

Government.

Estimated Number of Respondents: 85.

Estimated Burden Hours Per Respondent: 1 hour, 30 minutes.

Frequency of Response: On occasion.

Estimated Total Reporting Burden: 128 hours.

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

[[Page 42943]]

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. 95-20385 Filed 8-16-95; 8:45 am]

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