[Federal Register: June 2, 1999 (Volume 64, Number 105)]
[Notices]               
[Page 29739]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr02jn99-111]

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DEPARTMENT OF THE TREASURY

 
Submission for OMB Review; Comment Request

May 24, 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, Pub. L. 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 July 2, 1999 to 
be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-0987.
    Regulation Project Number: IA-62-91 Final and Temporary (formerly 
LR-168-86 NPRM and LR-129-86 Temporary).
    Type of Review: Extension.
    Title: Capitalization and Inclusion in Inventory of Certain Costs.
    Description: The paperwork requirements are necessary to determine 
whether taxpayers comply with the cost allocation rules of section 263A 
and with the requirements for changing their methods of accounting. The 
information will be used to verify taxpayers' changes in methods 
accounting.
    Respondents: Business or others for-profit, Farms.
    Estimated Number of Respondents/Recordkeepers: 20,000.
    Estimated Burden Hours Per Respondent/Recordkeeper: 5 hours.
    Frequency of Response: Other (in the year of change).
    Estimated Total Reporting/Recordkeeping Burden: 100,000 hours.
    OMB Number: 1545-1496.
    Regulation Project Number: REG-209673-93 Final.
    Type of Review: Extension.
    Title: Mark to Market for Dealers in Securities.
    Description: Under section 1.475(b)-4, the information required to 
be recorded is required by the IRS to determine whether exemption from 
mark-to-market treatment is properly claimed, and will be used to make 
that determination upon audit of taxpayers' books and records. Also, 
under section 1.475(c)-1(a)(3)(iii), the information is necessary for 
the Service to determine whether a consolidated group has elected to 
disregard inter-member transactions in determining a member's status as 
a dealer in securities.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents/Recordkeepers: 3.400.
    Estimated Burden Hours Per Respondent/Recordkeeper: 52 minutes.
    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 63,360 hours.
    Clearance Officer: Garrick Shear, 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 10202, New Executive Office Building, 
Washington, DC 20503.
Lois K. Holland,
Departmental Reports, Management Officer.
[FR Doc. 99-13864 Filed 6-1-99; 8:45 am]
BILLING CODE 4830-01-P