[Federal Register: June 20, 2003 (Volume 68, Number 119)]
[Notices]
[Page 37042-37043]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr20jn03-136]
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DEPARTMENT OF THE TREASURY
Submission for OMB Review; Comment Request
June 13, 2003.
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
11000, 1750 Pennsylvania Avenue, NW., Washington, DC 20220.
DATES: Written comments should be received on or before July 21, 2003
to be assured of consideration.
Internal Revenue Service (IRS)
OMB Number: 1545-0215.
Form Number: IRS Forms 5712 and 5712-A.
Type of Review: Revision.
Title: Election to be Treated as a Possessions Corporation Under
Section 936 (5712); and Election and Verification of the Cost Sharing
or Profit Split Method Under Section 936(h)(5)(5712-A).
Description: Domestic corporations may elect to be treated as
possessions corporations on Form 5712. This election allows the
corporations to take a tax credit. Possession corporations may elect on
Form 5712-A to share their taxable income with their affiliates under
Internal Revenue Code section 936(h)(5). These forms are used by the
IRS to ascertain if corporations are entitled to the credit and if they
may share their taxable income with their affiliates.
Respondents: Business or other for-profit, Farms, Federal
Government, State, Local or Tribal Government.
Estimated Number of Respondents/Recordkeepers: 1,000.
Estimated Burden Hours Per Respondent/Recordkeeper:
[[Page 37043]]
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Form 5712 Form 5712-A
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Recordkeeping................. 4 hr., 32 min... 5 hr., 15 min.
Learning about the law or the 35 min.......... 53 min.
form.
Preparing and sending the form 42 min.......... 1 hr., 1 min.
to the IRS.
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Frequency of Response: Annually.
Estimated Total Reporting/Recordkeeping Burden: 7,037 hours.
OMB Number: 1545-0996.
Regulation Project Number: REG-130477 and REG-130481-00 Final.
Type of Review: Extension.
Title: Required Distributions from Retirement Plans.
Description: The regulations relates to the required minimum
distributions from qualified plans, individual retirement plans,
deferred compensation plans under section 457, and section 403(b)
annuity contracts, custodial accounts, and retirement income accounts.
Respondents: State, Local or Tribal Government, Not-for-profit
institutions.
Estimated Number of Respondents: 8,400.
Estimated Burden Hours Per Respondent: 1 hour.
Frequency of Response: On occasion.
Estimated Total Reporting Burden: 8,400 hours.
OMB Number: 1545-1059.
Form Number: IRS Forms 7018 and 7018-A.
Type of Review: Extension.
Title: Employer's Order Blank for Forms (7018); and Employer's
Order Blank for 2003 Forms.
Description: Forms 7018 and 7018-A allow taxpayers who must file
information returns a systematic way to order information tax forms
material.
Respondents: Business or other for-profit.
Estimated Number of Respondents: 1,668,000.
Estimated Burden Hours Per Respondent: 3 minutes.
Frequency of Response: Annually.
Estimated Total Reporting Burden: 83,400 hours.
OMB Number: 1545-1821.
Regulation Project Number: REG-129271-02 Final.
Type of Review: Extension.
Title: Amendment of 26 CFR 301.6103(n)-1 to Incorporate Taxpayer
Browsing Protection.
Description: Treasury Regulation section 301.6103(n)-1 sets for the
conditions under which disclosures of returns and return information to
any person (Contractor), or to an officer or employee of such
Contractor, may be made to the extent necessary in connection with
contractual procurement of property for purposes of tax administration.
Under paragraph (c) of that section, each officer or employee of any
Contractor to whom returns or return information is or may be disclosed
as authorized by section 301.6103(n)-1 must be notified of the
prohibitions against unauthorized disclosure and unauthorized
inspection of return and return information, and the potential
penalties for such acts as imposed by Internal Revenue Code sections
7213 and 7213A respectively.
Respondents: Business or other for-profit, Federal Government,
State, Local or Tribal Government.
Estimated Number of Respondents: 2,500.
Estimated Burden Hours Per Respondent: 6 minutes.
Frequency of Response: Annually.
Estimated Total Reporting Burden: 250 hours.
Clearance Officer: Glenn Kirkland (202) 622-3428, Internal Revenue
Service, Room 6411-03, 1111 Constitution Avenue, NW., Washington, DC
20224.
OMB Reviewer: Joseph F. Lackey, Jr. (202) 395-7316, Office of
Management and Budget, Room 10235, New Executive Office Building,
Washington, DC 20503.
Mary A. Able,
Departmental Reports, Management Officer.
[FR Doc. 03-15637 Filed 6-19-03; 8:45 am]
BILLING CODE 4830-01-P