[Federal Register: July 1, 2004 (Volume 69, Number 126)]
[Notices]
[Page 40000-40001]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr01jy04-173]
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DEPARTMENT OF THE TREASURY
Submission for OMB Review; Comment Request
June 25, 2004.
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
11000, 1750 Pennsylvania Avenue, NW., Washington, DC 20220.
DATES: Written comments should be received on or before August 2, 2004
to be assured of consideration.
Internal Revenue Service (IRS)
OMB Number: 1545-0715.
Form Number: IRS Form 1099-B.
Type of Review: Extension.
Title: Proceeds From Broker and Barter Exchange Transactions.
Description: Form 1099-B is used by brokers and barter exchanges to
report proceeds from transactions to the Internal Revenue Service.
Respondents: Individuals or households.
Estimated Number of Respondents/Recordkeepers: 50,000.
[[Page 40001]]
Estimated Burden Hours Respondent/Recordkeeper: 18 minutes.
Frequency of response: Annually.
Estimated Total Reporting/Recordkeeping Burden: 39,988,038 hours.
OMB Number: 1545-0747.
Form Number: IRS Form 5498.
Type of Review: Extension.
Title: IRA Contribution Information.
Description: Form 5498 is used by trustees and issuers to report
contributions to, and the fair market value of, an individual
retirement arrangement.
Respondents: Business or other for-profit.
Estimated Number of Respondents/Recordkeepers: 81,208,141.
Estimated Burden Hours Respondent/Recordkeeper: 12 minutes.
Frequency of response: Annually.
Estimated Total Reporting/Recordkeeping Burden: 16,241,629 hours.
OMB Number: 1545-0930.
Form Number: IRS Form 8396.
Type of Review: Revision.
Title: Mortgage Interest Credit.
Description: Used by individual taxpayers to claim a credit against
their tax for a portion of the interest paid on a home mortgage in
connection with a qualified mortgage credit certificate. Internal
Revenue Code (IRC) section 25 allows the credit and IRS section 163(g)
provides that the interest deduction on Schedule A will be reduced by
the credit.
Respondents: Individuals or households.
Estimated Number of Respondents/Recordkeepers: 30,000.
Estimated Burden Hours Respondent/Recordkeeper: Recordkeeping--45
min.
Learning about the law or the form--10 min.
Preparing the form--30 min.
Copying, assembling, and sending the form to the IRS--13 min.
Frequency of response: Annually.
Estimated Total Reporting/Recordkeeping Burden: 53,400 hours.
OMB Number: 1545-0997.
Form Number: IRS Form 1099-S.
Type of Review: Extension.
Title: Proceeds From Real Estate Transactions.
Description: Form 1099-S is used by the real estate reporting
person to report proceeds from a real estate transaction to the IRS.
Respondents: Business or other for-profit, Individuals or
households.
Estimated Number of Respondents/Recordkeepers: 75,000.
Estimated Burden Hours Respondent/Recordkeeper: 8 minutes.
Frequency of response: Annually.
Estimated Total Reporting/Recordkeeping Burden: 510,456 hours.
OMB Number: 1545-1153.
Regulation Project Number: PS-73-89 (TD 8370) Final.
Type of Review: Extension.
Title: Excise Tax on Chemicals that Deplete the Ozone Layer and on
Products Containing Such Chemicals.
Description: Section 4681 imposes a tax on ozone-depleting
chemicals sold or used by a manufacturer or importer thereof and
imported taxable products sold or used by an importer thereof. A floor
stocks tax is also imposed. This regulation provides reporting and
recordkeeping rules.
Respondents: Business or other for-profit.
Estimated Number of Respondents/Recordkeepers: 150,316.
Estimated Burden Hours Respondent/Recordkeeper: 30 minutes.
Frequency of response: On occasion.
Estimated Total Reporting/Recordkeeping Burden: 75,142 hours.
OMB Number: 1545-1155.
Regulation Project Number: PS-74-89 (TD8282) Final.
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 Respondent: 15 minutes.
Estimated Total Reporting Burden: 50 hours.
OMB Number: 1545-1342.
Form Number: IRS Form W-5.
Type of Review: Extension.
Title: Earned Income Credit Advance Payment Certificate.
Description: Form W-5 is used by employees to see if they are
eligible for the earned income credit and to request part of the credit
in advance with their pay. Eligible employees who want advance payments
must give Form W-5 to their employers.
Respondents: Individuals or households.
Estimated Number of Respondents/Recordkeepers: 183,450.
Estimated Burden Hours Respondent/Recordkeeper:
Recordkeeping--6 min.
Learning about the law or the form--12 min.
Preparing the form--15 min.
Sending the form to the IRS--10 min.
Frequency of response: Annually.
Estimated Total Reporting/Recordkeeping Burden: 135,753 hours.
OMB Number: 1545-1374.
Form Number: IRS Form 8834.
Type of Review: Extension.
Title: Qualified Electric Vehicle Credit.
Description: Form 8834 is used to compute an allowable credit for
qualified electric vehicles placed in service after June 30, 1993.
Section 1913(b) under Pub. L. 102-1018 created new section 30.
Respondents: Individuals or households, Business or other for-
profit.
Estimated Number of Respondents/Recordkeepers: 500.
Estimated Burden Hours Respondent/Recordkeeper:
Recordkeeping--7 hrs., 39 min.
Learning about the law or the form--30 min.
Preparing, copying, assembling, and sending the form the IRS--39 min.
Frequency of response: Annually.
Estimated Total Reporting/Recordkeeping Burden: 4,395 hours.
Clearance Officer: Glenn P. 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.
Lois K. Holland,
Treasury PRA Clearance Officer.
[FR Doc. 04-14974 Filed 6-30-04; 8:45 am]
BILLING CODE 4830-01-P