[Federal Register: July 29, 1999 (Volume 64, Number 145)]
[Notices]               
[Page 41187-41188]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr29jy99-121]                         

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DEPARTMENT OF THE TREASURY

 
Submission for OMB Review; Comment Request

July 19, 1999.
    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 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.


[[Page 41188]]


DATES: Written comments should be received on or before August 30, 1999 
to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-0216.
    Form Number: IRS Form 5713, Schedules A, B, and C.
    Type of Review: Extension.
    Title: International Boycott Report.
    Description: Form 5713 and related Schedules A, B, and C are used 
by any entity that has operations in a ``boycotting'' country. If that 
entity cooperates with or participates in an international boycott it 
loses a portion of the foreign tax credit, or deferral of Foreign Sales 
Corporation (FSC) and Interest Charge-Domestic International Sales 
Corporation (IC-DISC) benefits. The IRS uses Form 5713 to determine if 
any of the above benefits should be lost. The information is also used 
as the basis for a report to the Congress.
    Respondents: Business or other for-profit, Individuals or 
households.
    Estimated Number of Respondents/Recordkeepers: 3,875.
    Estimated Burden Hours Per Respondent/Recordkeeper:

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                                                                                                                              Preparing and sending the
                Form                                Recordkeeping                    Learning about the law or the form            form to the IRS
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5713................................  21 hr., 31 min...........................  2 hr., 3 min.............................  3 hr., 26 min.
Sch. A (5713).......................  3 hr., 7 min.............................  12 min...................................  16 min.
Sch. B (5713).......................  3 hr., 21 min............................  1 hr., 59 min............................  2 hr., 8 min.
Sch. C (5713).......................  4 hr., 32 min............................  1 hr., 47 min............................  1 hr., 56 min.
--------------------------------------------------------------------------------------------------------------------------------------------------------

    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 100,178 hours.

    OMB Number: 1545-1201.
    Regulation Project Number: PS-52-88 (Final) (T.D. 8455).
    Type of Review: Extension.
    Title: Election to Expense Certain Depreciable Business Assets.
    Description: The regulations provide rules on the election 
described in section 179(b)(4); the apportionment of the dollar 
limitation among component members of a controlled group; and the 
proper order for deducting the carryover of disallowed deduction. The 
recordkeeping and reporting is necessary to monitor compliance with the 
section 179 rules.
    Respondents: Business or other for-profit, Individuals or 
households.
    Estimated Number of Respondents/Recordkeepers: 20,000.
    Estimated Burden Hours Per Respondent/Recordkeeper: 45 minutes.
    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 15,000 hours.
    OMB Number: 1545-1295.
    Regulation Project Number: CO-111-90 Final and Temporary.
    Type of Review: Extension.
    Title: Revision of Section 338 Consistency Regulations.
    Description: The regulations require corporations that make 
elections under section 338 to provide certain information. The 
information is used to determine tax liability that results when 
elections are made and to facilitate collections of the tax.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents: 45.
    Estimated Burden Hours Per Respondent: 34 minutes.
    Frequency of Response: On occasion.
    Estimated Total Reporting Burden: 25 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.
Dale A. Morgan,
Departmental Reports Management Officer.
[FR Doc. 99-19340 Filed 7-28-99; 8:45 am]
BILLING CODE 4830-01-P