IRS Asks for OMB Approval of Forms

The IRS also submitted for approval and comment information collection requirements under final regulations (T.D. 8219) under section 401(a)(11) on qualified joint and survivor annuities and final regs (T.D. 8690) under section 170 on charitable contribution deductions, substantiation for charitable contributions of $250 or more, and the disclosure requirements for quid pro quo contributions that exceed $75. (For a summary of T.D. 8219, see Tax Notes, Aug. 29, 1988, p. 907; for the full text, see 88 TNT 172-2 or H&D, Aug. 22, 1988, p. 1873. For a summary of T.D. 8690, see Tax Notes, Dec. 23, 1996, p. 1428; for the text, see Doc 96-32314 (10 pages).)

To obtain copies of the submissions, call Garrick Shear at (202) 622-3869. Address comments, which are due by April 10, 2000, to Garrick Shear, Internal Revenue Service, Room 5571, 1111 Constitution Ave., NW, Washington, DC 20202; and Alexander T. Hunt, Office of Management and Budget, Room 10202, New Executive Office Bldg., Washington, DC 20503.

February 28, 2000

[1] 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.

[2] DATES: Written comments should be received on or before April 10, 2000 to be assured of consideration.

Internal Revenue Service (IRS)

[3] OMB Number: 1545-0064.

[4] Form Number: IRS Form 4029.

[5] Type of Review: Extension.

[6] Title: Application for Exemption From Social Security and Medicare Taxes and Waiver of Benefits.

[7] Description: Form 4029 is used by members of recognized religious groups to apply for exemption from social security and Medicare taxes under Internal Revenue Code (IRC) sections 1402(g) and 3127. The information is used to approve or deny exemption from social security and Medicare taxes.

[8] Respondents: Individuals or households.

[9] Estimated Number of Respondents/Recordkeepers: 3,754.

[10] Estimated Burden Hours Per Respondent/Recordkeeper:

[11] Recordkeeping: 7 min.

[12] Learning about the law or the form: 11 min.

[13] Preparing the form: 11 min.

[14] Copying, assembling, and sending the form to the IRS: 35 min.

[15] Frequency of Response: Other (one-time).

[16] Estimated Total Reporting/Recordkeeping Burden: 4,017 hours.

[17] OMB Number: 1545-0928.

[18] Regulation Project Number: EE-35-85 (Final), TD 8219.

[19] Type of Review: Extension.

[20] Title: Income Tax: Taxable Years Beginning After December 31, 1953; OMB Control Number Under the Paperwork Reduction Act; Survivor Benefits, Distribution Restriction and Various Other Issues Under the Retirement Equity Act of 1984.

[21] Description: The notices referred to in this Treasury decision are required by statute and must be provided by employers to retirement plan participants to inform participants of their rights under the plan or under the law. Failure to timely notify participants of their rights may result in loss of plan benefits.

[22] Respondents: Business or other for-profit, Not-for-profit institutions, Federal Government, State, Local or Tribal Government.

[23] Estimated Number of Respondents: 750,000.

[24] Estimated Burden Hours Per Respondent: 31 minutes.

[25] Frequency of Response: On occasion.

[26] Estimated Total Reporting Burden: 385,000 hours.

[27] OMB Number: 1545-1431.

[28] Regulation Project Number: IA-74-93 (Final).

[29] Type of Review: Extension.

[30] Title: Substantiation Requirement for Certain Contributions.

[31] Description: These regulations provide that, for purposes of substantiation for certain charitable contributions, consideration does not include de minimis goods or services. It also provides guidance on how taxpayers may satisfy the substantiation requirement for contributions of $250 or more.

[32] Respondents: Business or other for-profit, Individuals or households, Not-for-profit institutions.

[33] Estimated Number of Respondents: 16,000.

[34] Estimated Burden Hours Per Respondent: 3 hours, 13 minutes.

[35] Frequency of Response: On occasion.

[36] Estimated Total Reporting Burden: 51,500 hours.

[37] OMB Number: 1545-1519.

[38] Form Number: IRS Form 1099-LTC.

[39] Type of Review: Extension.

[40] Title: Long-Term Care and Accelerated Death Benefits.

[41] Description: Under the terms of Internal Revenue Code (IRC) sections 7720B and 101g, qualified long-term and accelerated death benefits paid to chronically ill individuals are treated as amounts received for expenses incurred for medical care. Amounts received on a per diem basis in excess of $175 per day are taxable. Section 6050Q requires all such amounts to be reported.

[42] Respondents: Business or other for-profit, Individuals or households, Not-for-profit institutions, State, Local or Tribal Government.

[43] Estimated Number of Respondents: 3,000.

[44] Estimated Burden Hours Per Respondent: 11 minutes.

[45] Frequency of Response: Annually.

[46] Estimated Total Reporting Burden: 13,602 hours.

[47] Clearance Officer: Garrick Shear, Internal Revenue Service, Room 5244, 1111 Constitution Avenue, NW, Washington, DC 20224.

[48] 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,