Proposed Extension of Information Collection Request Submitted for Public Comment; Mortgage Credit Certificates (MCCs), 48318 [2017-22438]
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48318
Federal Register / Vol. 82, No. 199 / Tuesday, October 17, 2017 / Notices
OMB Number: 1545–0235.
Regulation Project Number: Form 730.
Abstract: Form 730 is used to identify
taxable wagers under Internal Revenue
Code section 4401 and collect the tax
monthly. The information is used to
determine if persons accepting wagers
are correctly reporting the amount of
wagers and paying the required tax.
Current Actions: There is no change to
this existing form.
Type of Review: Extension of a
currently approved collection.
Affected Public: Businesses or other
for-profit organizations and individuals.
Estimated Number of Respondents:
51,082.
Estimated Time Per Respondent: 8
hours, 11 minutes.
Estimated Total Annual Burden
Hours: 418,362.
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.
Approved: October 11, 2017.
L. Brimmer,
Senior Tax Analyst.
[FR Doc. 2017–22405 Filed 10–16–17; 8:45 am]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Extension of Information
Collection Request Submitted for
Public Comment; Mortgage Credit
Certificates (MCCs)
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
The Internal Revenue Service,
as part of its continuing effort to reduce
paperwork and respondent burden,
invites the 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. Currently, the IRS is
soliciting comments concerning the
application process for determination of
employee stock ownership plans.
DATES: Written comments should be
received on or before December 18, 2017
to be assured of consideration.
ADDRESSES: Direct all written comments
to Tuawana Pinkston, Internal Revenue
Service, Room 6141, 1111 Constitution
Avenue NW., Washington, DC 20224.
Requests for additional information or
copies of the regulations should be
directed to R. Joseph Durbala, at Internal
Revenue Service, Room 6129, 1111
Constitution Avenue NW., Washington,
DC 20224, or through the internet, at
RJoseph.Durbala@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Mortgage Credit Certificates
(MCCs).
OMB Number: 1545–0922.
Regulation Project Number: Form
8329 and Form 8330.
Abstract: Mortgage Credit Certificates
provide qualified holders of the
certificates with a credit against income
tax liability. In general, an Issuer elects
to establish a mortgage credit certificate
program in lieu of issuing qualified
mortgage revenue bonds. Section 25 of
the Code permits states and political
subdivisions to elect to issue Mortgage
Credit Certificates in lieu of qualified
mortgage revenue bonds. Form 8329 is
used by lending institutions and Form
8330 is used by state and local
governments to provide the IRS with
information on the issuance of mortgage
credit certificates (MCCs) authorized
under Internal Revenue Code section 25.
IRS matches the information supplied
by lenders and issuers to ensure that the
credit is computed properly.
Current Actions: There is no change to
the burden previously approved.
SUMMARY:
PO 00000
Frm 00107
Fmt 4703
Sfmt 9990
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
Form 8329—10,000; Form 8330—2,000
Estimated Time per Respondent:
Form 8329—5 hrs. 53 min.; Form
8330—7 hrs. 28 min.
Estimated Total Annual Burden
Hours: Form 8329—58,800; Form
8330—14,920.
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 if 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.
Desired Focus of Comments: The
Internal Revenue Service (IRS) is
particularly interested in comments
that:
• Evaluate whether the proposed
collection of information is necessary
for the proper performance of the
functions of the agency, including
whether the information will have
practical utility;
• Evaluate the accuracy of the
agency’s estimate of the burden of the
proposed collection of information,
including the validity of the
methodology and assumptions used;
• Enhance the quality, utility, and
clarity of the information to be
collected; and
• Minimize the burden of the
collection of information on those who
are to respond, including using
appropriate automated, electronic,
mechanical, or other technological
collection techniques or other forms of
information technology, e.g., by
permitting electronic submissions of
responses.
Comments submitted in response to
this notice will be summarized and/or
included in the ICR for OMB approval
of the extension of the information
collection; they will also become a
matter of public record.
Approved: October 10, 2017.
R. Joseph Durbala,
IRS Tax Analyst.
[FR Doc. 2017–22438 Filed 10–16–17; 8:45 am]
BILLING CODE 4830–01–P
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]]>Agencies
[Federal Register Volume 82, Number 199 (Tuesday, October 17, 2017)]
[Notices]
[Page 48318]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-22438]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Extension of Information Collection Request Submitted
for Public Comment; Mortgage Credit Certificates (MCCs)
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
-----------------------------------------------------------------------
SUMMARY: The Internal Revenue Service, as part of its continuing effort
to reduce paperwork and respondent burden, invites the 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. Currently, the IRS is soliciting comments
concerning the application process for determination of employee stock
ownership plans.
DATES: Written comments should be received on or before December 18,
2017 to be assured of consideration.
ADDRESSES: Direct all written comments to Tuawana Pinkston, Internal
Revenue Service, Room 6141, 1111 Constitution Avenue NW., Washington,
DC 20224. Requests for additional information or copies of the
regulations should be directed to R. Joseph Durbala, at Internal
Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington,
DC 20224, or through the internet, at RJoseph.Durbala@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Mortgage Credit Certificates (MCCs).
OMB Number: 1545-0922.
Regulation Project Number: Form 8329 and Form 8330.
Abstract: Mortgage Credit Certificates provide qualified holders of
the certificates with a credit against income tax liability. In
general, an Issuer elects to establish a mortgage credit certificate
program in lieu of issuing qualified mortgage revenue bonds. Section 25
of the Code permits states and political subdivisions to elect to issue
Mortgage Credit Certificates in lieu of qualified mortgage revenue
bonds. Form 8329 is used by lending institutions and Form 8330 is used
by state and local governments to provide the IRS with information on
the issuance of mortgage credit certificates (MCCs) authorized under
Internal Revenue Code section 25. IRS matches the information supplied
by lenders and issuers to ensure that the credit is computed properly.
Current Actions: There is no change to the burden previously
approved.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: Form 8329--10,000; Form 8330--
2,000
Estimated Time per Respondent: Form 8329--5 hrs. 53 min.; Form
8330--7 hrs. 28 min.
Estimated Total Annual Burden Hours: Form 8329--58,800; Form 8330--
14,920.
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 if 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.
Desired Focus of Comments: The Internal Revenue Service (IRS) is
particularly interested in comments that:
Evaluate whether the proposed collection of information is
necessary for the proper performance of the functions of the agency,
including whether the information will have practical utility;
Evaluate the accuracy of the agency's estimate of the
burden of the proposed collection of information, including the
validity of the methodology and assumptions used;
Enhance the quality, utility, and clarity of the
information to be collected; and
Minimize the burden of the collection of information on
those who are to respond, including using appropriate automated,
electronic, mechanical, or other technological collection techniques or
other forms of information technology, e.g., by permitting electronic
submissions of responses.
Comments submitted in response to this notice will be summarized
and/or included in the ICR for OMB approval of the extension of the
information collection; they will also become a matter of public
record.
Approved: October 10, 2017.
R. Joseph Durbala,
IRS Tax Analyst.
[FR Doc. 2017-22438 Filed 10-16-17; 8:45 am]
BILLING CODE 4830-01-P
