[Federal Register: September 15, 1998 (Volume 63, Number 178)]
[Notices]               
[Page 49379]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr15se98-124]

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DEPARTMENT OF THE TREASURY

 
Submission to OMB for Review; Comment Request

September 1, 1998.
    The Department of the Treasury has submitted the following public 
information collection requirement(s) to OMB for review and clearance 
under the Paperwork Reduction Act of 1995, Public Law 104-13. 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.

DATES: Written comments should be received on or before October 15, 
1998 to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-0026.
    Form Number: IRS Form 926.
    Type of Review: Revision.
    Title: Return by a U.S. Transferor of Property to a Foreign 
Corporation.
    Description: U.S. persons file Form 926 to report the transfer of 
property to a foreign corporation and to report information required by 
a section 367. The IRS uses Form 926 to determine if the gain, if any, 
must be recognized by the U.S. person.
    Respondents: Businesses or other for-profit, Individuals or 
households.
    Estimated Number of Respondents/Recordkeepers: 1,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

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Recordkeeping..........................  6 hr., 56 min.                 
Learning about the law or the form.....  4 hr., 4 min.                  
Preparing and sending the form to the    4 hr., 22 min.                 
 IRS.                                                                   
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    Frequency of Response: On occasion, Annually.
    Estimated Total Reporting/Recordkeeping Burden: 15,370 hours.
    Clearance Officer: Garrick Shear (202) 622-3869, Internal Revenue 
Service, Room 5571, 1111 Constitution Avenue, NW, Washington, DC 20224.
    OMB Reviewer: Alexander T. Hunt (202) 395-7860, Office of 
Management and Budget, Room 10226, New Executive Office Building, 
Washington, DC 20503.
Lois K. Holland,
Departmental Reports Management Officer.
[FR Doc. 98-24630 Filed 9-14-98; 8:45 am]
BILLING CODE 4830-01-P