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Submission for OMB Review; Comment Request

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Start Preamble June 29, 2001.

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, Start Printed Page 35833Public 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.

DATES:

Written comments should be received on or before August 8, 2001 to be assured of consideration.

Internal Revenue Service (IRS)

OMB Number: 1545-0016.

Form Number: IRS Form 706.

Type of Review: Revision.

Title: United States Estate (and Generation-Skipping Transfer) Tax Return.

Description: Form 706 is used by executors to report and compute the Federal Estate Tax imposed by Internal Revenue Code (IRC) section 2601. IRS uses the information to enforce these taxes and to verify that the tax has been properly computed.

Respondents: Individuals or households, Business or other for-profit.

Estimated Number of Respondents/Recordkeepers: 117,000.

Estimated Burden Hours Per Respondent/Recordkeeper:

Form/ScheduleRecordkeepingLearning about the law or the formPreparing the formCopying, assembling, and sending the form to the IRS
7062 hr., 10 min.1 hr., 30 min.3 hr., 40 min.48 min.
Schedule A19 min.15 min.9 min.20 min.
Schedule A-145 min.25 min.58 min.48 min.
Schedule B19 min.9 min.15 min.20 min.
Schedule C13 min.1 min.8 min.20 min.
Schedule D6 min.6 min.8 min.20 min.
Schedule E39 min.7 min.24 min.20 min.
Schedule F33 min.7 min.21 min.20 min.
Schedule G26 min.22 min.11 min.13 min.
Schedule H26 min.7 min.9 min.13 min.
Schedule I26 min.27 min.11 min.20 min.
Schedule J26 min.7 min.15 min.20 min.
Schedule K26 min.10 min.9 min.20 min.
Schedule L13 min.4 min.9 min.20 min.
Schedule M13 min.31 min.24 min.20 min.
Schedule O19 min.11 min.18 min.16 min.
Schedule P6 min.14 min.18 min.13 min.
Schedule Q6 min.9 min.11 min.13 min.
Schedule Q Worksheet6 min.9 min.58 min.20 min.
Schedule R19 min.34 min.1 hr., 1 min.48 min.
Schedule R-16 min.29 min.24 min.20 min
Schedule T1 hr., 12 min.27 min.1 hr., 14 min.1 hr., 3 min.
Schedule U19 min.3 min.28 min.20 min.
Cont. Schedule19 min.2 min.7 min.20 min.

Frequency of Response: Other (once).

Estimated Total Reporting. Recordkeeping Burden: 2,079,835 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.

Start Signature

Lois K. Holland,

Departmental Reports, Management Officer.

End Signature End Preamble

[FR Doc. 01-17082 Filed 7-6-01; 8:45 am]

BILLING CODE 4830-01-P