Proposed Collection; Comment Request for Form 8582, 10003 [2021-03132]
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Federal Register / Vol. 86, No. 30 / Wednesday, February 17, 2021 / Notices
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Form 8582
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
The Internal Revenue Service
(IRS), 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 information
collections, as required by the
Paperwork Reduction Act of 1995. The
IRS is soliciting comments concerning
information collection requirements
related to Passive Activity Loss
Limitations.
DATES: Written comments should be
received on or before April 19, 2021 to
be assured of consideration.
ADDRESSES: Direct all written comments
to Kinna Brewington, Internal Revenue
Service, Room 6526, 1111 Constitution
Avenue NW, Washington, DC 20224.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the forms should be directed
to Sara Covington, (737) 800–6149,
Room 6526, 1111 Constitution Avenue
NW, Washington, DC 20224, or through
the internet at Sara.L.Covington@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Passive Activity Loss
Limitations.
OMB Number: 1545–1008.
Form Number: 8582.
Abstract: Internal Revenue Code
section 469 limits the passive activity
losses that a taxpayer may deduct. The
passive activity losses from passive
activities, to the extent that they exceed
income from passive activities, cannot
be deducted against nonpassive income.
Form 8582 is used to figure the passive
activity loss allowed and the actual loss
to be reported on the tax returns.
Current Actions: There is no change
in the paperwork burden previously
approved by OMB.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals or
households, estates, and trusts.
Estimated Number of Respondents:
250,000.
Estimated Time per Respondent: 3
hours, 30 minutes.
Estimated Total Annual Burden
Hours: 875,000.
The following paragraph applies to all
of the collections of information covered
by this notice:
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SUMMARY:
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20:43 Feb 16, 2021
Jkt 253001
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: February 1, 2021.
Sara L. Covington,
IRS Tax Analyst.
[FR Doc. 2021–03132 Filed 2–16–21; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Form 6765
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 general public and other
Federal agencies to take this
opportunity to comment on information
collections, as required by the
Paperwork Reduction Act of 1995. The
IRS is soliciting comments concerning
Form 6765, Credit for Increasing
Research Activities.
SUMMARY:
PO 00000
Frm 00099
Fmt 4703
Sfmt 4703
10003
Written comments should be
received on or before April 19, 2021 to
be assured of consideration.
ADDRESSES: Direct all written comments
to Kinna Brewington, Internal Revenue
Service, Room 6526, 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 Sara Covington,
(737) 800–6149, Internal Revenue
Service, Room 6526, 1111 Constitution
Avenue NW, Washington, DC 20224, or
through the internet at
Sara.l.Covington@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Credit for Increasing Research
Activities.
OMB Number: 1545–0619.
Form Number: 6765.
Abstract: Internal Revenue Code
section 38 allows a credit against
income tax (Determined under IRC
section 41) for an increase in research
activities in a trade or business. Form
6765 is used by businesses and
individuals engaged in a trade or
business to figure and report the credit.
The data is used to verify that the credit
claimed is correct.
Current Actions: There are no changes
being made to the form at this time.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations and individuals.
Estimated Number of Respondents:
15,805.
Estimated Time per Respondent: 18
hours, 2 minutes.
Estimated Total Annual Burden
Hours: 285,281.
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
DATES:
E:\FR\FM\17FEN1.SGM
17FEN1
]]>Agencies
[Federal Register Volume 86, Number 30 (Wednesday, February 17, 2021)]
[Notices]
[Page 10003]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-03132]
[[Page 10003]]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Form 8582
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
-----------------------------------------------------------------------
SUMMARY: The Internal Revenue Service (IRS), 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 information collections, as required by the Paperwork Reduction Act
of 1995. The IRS is soliciting comments concerning information
collection requirements related to Passive Activity Loss Limitations.
DATES: Written comments should be received on or before April 19, 2021
to be assured of consideration.
ADDRESSES: Direct all written comments to Kinna Brewington, Internal
Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC
20224.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the forms should be directed to Sara Covington, (737) 800-
6149, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224, or
through the internet at [email protected].
SUPPLEMENTARY INFORMATION:
Title: Passive Activity Loss Limitations.
OMB Number: 1545-1008.
Form Number: 8582.
Abstract: Internal Revenue Code section 469 limits the passive
activity losses that a taxpayer may deduct. The passive activity losses
from passive activities, to the extent that they exceed income from
passive activities, cannot be deducted against nonpassive income. Form
8582 is used to figure the passive activity loss allowed and the actual
loss to be reported on the tax returns.
Current Actions: There is no change in the paperwork burden
previously approved by OMB.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals or households, estates, and trusts.
Estimated Number of Respondents: 250,000.
Estimated Time per Respondent: 3 hours, 30 minutes.
Estimated Total Annual Burden Hours: 875,000.
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: February 1, 2021.
Sara L. Covington,
IRS Tax Analyst.
[FR Doc. 2021-03132 Filed 2-16-21; 8:45 am]
BILLING CODE 4830-01-P
