Proposed Collection; Comment Request for Revenue Procedure 2002-15, 15839-15840 [E8-5945]

Download as PDF Federal Register / Vol. 73, No. 58 / Tuesday, March 25, 2008 / Notices collections, as required by the Paperwork Reduction Act of 1995, Public Law 104–13 (44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning Form 8823, Low-Income Housing Credit Agencies Report of Noncompliance or Building Disposition. DATES: Written comments should be received on or before May 27, 2008 to be assured of consideration. ADDRESSES: Direct all written comments to Glenn P. Kirkland, Internal Revenue Service, room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the form and instructions should be directed to Carolyn N. Brown, (202) 622–6688, Internal Revenue Service, room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224, or through the Internet at Carolyn.N.Brown@irs.gov. mstockstill on PROD1PC66 with NOTICES SUPPLEMENTARY INFORMATION: Title: Low-Income Housing Credit Agencies Report of Noncompliance or Building Disposition. OMB Number: 1545–1204. Form Number: 8823. Abstract: Under Internal Revenue Code section 42(m)(1)(B)(iii), state housing credit agencies are required to notify the IRS of noncompliance with the low-income housing tax credit provisions. A separate form must be filed for each building that is not in compliance. The IRS uses this information to determine whether the low-income housing credit is being correctly claimed and whether there is any credit recapture. Current Actions: Form 8823 was revised, adding 17 line items. This change resulted in an increase of 82,600 hours; making the new burden hours 372,200. Type of Review: Revision of a currently approved collection. Affected Public: State or local government housing credit agencies. Estimated Number of Respondents: 20,000. Estimated Time per Respondent: 18 hrs., 37 min. Estimated Total Annual Burden Hours: 372,200. The following paragraph applies to all of the collections of information covered by this notice: An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless the collection of information displays a valid OMB control number. Books or records relating to a collection of information must be retained as long as their contents may become material VerDate Aug<31>2005 18:33 Mar 24, 2008 Jkt 214001 in the administration of any internal revenue law. Generally, tax returns and tax return information are confidential, as required by 26 U.S.C. 6103. Request for Comments: Comments submitted in response to this notice will be summarized and/or included in the request for OMB approval. All comments will become a matter of public record. Comments are invited on: (a) Whether the collection of information is necessary for the proper performance of the functions of the agency, including whether the information shall have practical utility; (b) the accuracy of the agency’s estimate of the burden of the collection of information; (c) ways to enhance the quality, utility, and clarity of the information to be collected; (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology; and (e) estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information. Approved: March 12, 2008. Glenn P. Kirkland, IRS Reports Clearance Officer. [FR Doc. E8–5943 Filed 3–24–08; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Revenue Procedure 2002–15 Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. AGENCY: SUMMARY: The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104–13 (44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning Revenue Procedure 2002–15, Automatic Relief for Late Initial Entity Classification Elections—Check the Box. DATES: Written comments should be received on or before May 27, 2008 to be assured of consideration. ADDRESSES: Direct all written comments to Glenn Kirkland, Internal Revenue PO 00000 Frm 00122 Fmt 4703 Sfmt 4703 15839 Service, room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for copies of the regulations should be directed to Allan Hopkins at Internal Revenue Service, room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224, or at (202) 622– 6665, or through the Internet at Allan.M.Hopkins@irs.gov. SUPPLEMENTARY INFORMATION: Title: Automatic Relief for Late Initial Entity Classification Elections—Check the Box. OMB Number: 1545–1771. Revenue Procedure Number: Revenue Procedure 2002–15. Abstract: Revenue Procedure 2002–15 provides that, in certain circumstances, taxpayers whose initial entity classification election was filed late can obtain relief by filing Form 8832 and attaching a statement explaining that the requirements of the revenue procedure have been met. Current Actions: There are no changes being made to the revenue procedure at this time. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations. Estimated Number of Respondents: 100. Estimated Time per Respondent: 1 hour. Estimated Total Annual Burden Hours: 100. The following paragraph applies to all the collections of information covered by this notice: An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless the collection of information displays a valid OMB control number. Books or records relating to a collection of information must be retained as long as their contents may become material in the administration of any internal revenue law. Generally, tax returns and tax return information are confidential, as required by 26 U.S.C. 6103. Request for Comments: Comments submitted in response to this notice will be summarized and/or included in the request for OMB approval. All comments will become a matter of public record. Comments are invited on: (a) Whether the collection of information is necessary for the proper performance of the functions of the agency, including whether the information shall have practical utility; (b) the accuracy of the agency’s estimate of the burden of the collection of information; (c) ways to enhance the E:\FR\FM\25MRN1.SGM 25MRN1 15840 Federal Register / Vol. 73, No. 58 / Tuesday, March 25, 2008 / Notices quality, utility, and clarity of the information to be collected; (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology; and (e) estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information. Approved: March 11, 2008. Glenn Kirkland, IRS Reports Clearance Officer. [FR Doc. E8–5945 Filed 3–24–08; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service [REG–209365–89] Proposed Collection; Comment Request for Regulation Project Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. AGENCY: SUMMARY: The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104–13 (44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning an existing final regulation, Limitation on Passive Activity Losses and Credits— Treatment of Self-Charged Items of Income and Expense (Section 1.469– 7(f)). Written comments should be received on or before May 27, 2008 to be assured of consideration. ADDRESSES: Direct all written comments to Glenn Kirkland, Internal Revenue Service, Room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for copies of the regulations should be directed to Allan Hopkins at Internal Revenue Service, Room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224, or at (202) 622– 6665, or through the Internet at Allan.M.Hopkins@irs.gov. mstockstill on PROD1PC66 with NOTICES DATES: SUPPLEMENTARY INFORMATION: Title: Limitation on Passive Activity Losses and Credits—Treatment of SelfCharged Items of Income and Expense. OMB Number: 1545–1244. VerDate Aug<31>2005 18:33 Mar 24, 2008 Jkt 214001 Regulation Project Number: REG– 209365–89 (formerly PS–39–89). Abstract: Section 1.469–7(f)(1) of this regulation permits entities to elect to avoid application of the regulation in the event the passthrough entity chooses to not have the income from leading transactions with owners of interests in the entity recharacterized as passive activity gross income. The IRS will use this information to determine whether the entity has made a proper timely election and to determine that taxpayers are complying with the election in the taxable year of the election and subsequent taxable years. Current Actions: There is no change to this existing regulation. Type of Review: Extension of currently approved collection. Affected Public: Individuals and business or other for-profit organizations. Estimated Number of Respondents: 1,000. Estimated Time per Respondent: 6 minutes. Estimated Total Annual Burden Hours: 100. The following paragraph applies to all of the collections of information covered by this notice: An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless the collection of information displays a valid OMB control number. Books or records relating to a collection of information must be retained as long as their contents may become material in the administration of any internal revenue law. Generally, tax returns and tax return information are confidential, as required by 26 U.S.C. 6103. Request for Comments: Comments submitted in response to this notice will be summarized and/or included in the request for OMB approval. All comments will become a matter of public record. Comments are invited on: (a) Whether the collection of information is necessary for the proper performance of the functions of the agency, including whether the information shall have practical utility; (b) the accuracy of the agency’s estimate of the burden of the collection of information; (c) ways to enhance the quality, utility, and clarity of the information to be collected; (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology; and (e) estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information. PO 00000 Frm 00123 Fmt 4703 Sfmt 4703 Approved: March 11, 2008. Glenn Kirkland, IRS Reports Clearance Officer. [FR Doc. E8–5947 Filed 3–24–08; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service [LR–1214] Proposed Collection; Comment Request For Regulation Project Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. AGENCY: SUMMARY: The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104–13 (44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning an existing final regulation, LR–1214 (TD 7430), Discharge of Liens (§ 301.7425– 3(b)(2)). DATES: Written comments should be received on or before May 27, 2008 to be assured of consideration. ADDRESSES: Direct all written comments to Glenn Kirkland, Internal Revenue Service, room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for copies of the information collection should be directed to Allan Hopkins, at (202) 622–6665, or at Internal Revenue Service, room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224, or through the Internet, at Allan.M.Hopkins@irs.gov. SUPPLEMENTARY INFORMATION: Title: Discharge of Liens. OMB Number: 1545–0854. Regulation Project Number: LR–1214. Abstract: The Internal Revenue Service needs this information in processing a request to sell property subject to a tax lien to determine if the taxpayer has equity in the property. This information will be used to determine the amount, if any, to which the tax lien attaches. Current Actions: There is no change to this existing regulation. Type of Review: Extension of a currently approved collection. Affected Public: Individuals, business or other for-profit organizations, and farms. E:\FR\FM\25MRN1.SGM 25MRN1

Agencies

[Federal Register Volume 73, Number 58 (Tuesday, March 25, 2008)]
[Notices]
[Pages 15839-15840]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-5945]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Revenue Procedure 2002-
15

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

-----------------------------------------------------------------------

SUMMARY: The Department of the Treasury, as part of its continuing 
effort to reduce paperwork and respondent burden, invites the general 
public and other Federal agencies to take this opportunity to comment 
on proposed and/or continuing information collections, as required by 
the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning 
Revenue Procedure 2002-15, Automatic Relief for Late Initial Entity 
Classification Elections--Check the Box.

DATES: Written comments should be received on or before May 27, 2008 to 
be assured of consideration.

ADDRESSES: Direct all written comments to Glenn Kirkland, Internal 
Revenue Service, room 6129, 1111 Constitution Avenue, NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for copies of the regulations 
should be directed to Allan Hopkins at Internal Revenue Service, room 
6129, 1111 Constitution Avenue, NW., Washington, DC 20224, or at (202) 
622-6665, or through the Internet at Allan.M.Hopkins@irs.gov.

SUPPLEMENTARY INFORMATION:
    Title: Automatic Relief for Late Initial Entity Classification 
Elections--Check the Box.
    OMB Number: 1545-1771.
    Revenue Procedure Number: Revenue Procedure 2002-15.
    Abstract: Revenue Procedure 2002-15 provides that, in certain 
circumstances, taxpayers whose initial entity classification election 
was filed late can obtain relief by filing Form 8832 and attaching a 
statement explaining that the requirements of the revenue procedure 
have been met.
    Current Actions: There are no changes being made to the revenue 
procedure at this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 100.
    Estimated Time per Respondent: 1 hour.
    Estimated Total Annual Burden Hours: 100.
    The following paragraph applies to all the collections of 
information covered by this notice:
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless the collection of 
information displays a valid OMB control number.
    Books or records relating to a collection of information must be 
retained as long as their contents may become material in the 
administration of any internal revenue law. Generally, tax returns and 
tax return information are confidential, as required by 26 U.S.C. 6103.
    Request for Comments: Comments submitted in response to this notice 
will be summarized and/or included in the request for OMB approval. All 
comments will become a matter of public record. Comments are invited 
on: (a) Whether the collection of information is necessary for the 
proper performance of the functions of the agency, including whether 
the information shall have practical utility; (b) the accuracy of the 
agency's estimate of the burden of the collection of information; (c) 
ways to enhance the

[[Page 15840]]

quality, utility, and clarity of the information to be collected; (d) 
ways to minimize the burden of the collection of information on 
respondents, including through the use of automated collection 
techniques or other forms of information technology; and (e) estimates 
of capital or start-up costs and costs of operation, maintenance, and 
purchase of services to provide information.

    Approved: March 11, 2008.
Glenn Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E8-5945 Filed 3-24-08; 8:45 am]
BILLING CODE 4830-01-P

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