[Federal Register Volume 76, Number 191 (Monday, October 3, 2011)]
[Notices]
[Pages 61145-61146]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-25340]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Form 8899
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
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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
Form 8899, Notice of Income Donated Intellectual Property.
DATES: Written comments should be received on or before December 2,
2011 to be assured of consideration.
ADDRESSES: Direct all written comments to Yvette B. Lawrence, 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 Joel
Goldberger at Internal Revenue Service, room 6129, 1111 Constitution
Avenue, NW., Washington, DC 20224, or at (202) 927-9368, or through the
Internet at [email protected].
SUPPLEMENTARY INFORMATION:
Title: Notice of Income Donated Intellectual Property.
OMB Number: 1545-1962.
Form Number: Form 8899.
Abstract: Form 8899 is filed by charitable org. receiving donations
of intellectual property if the donor provides timely notice. The
initial deduction is limited to the donor's basis; additional
deductions are allowed to the extent of income from the property,
reducing excessive deductions.
Current Actions: There is no change in the paperwork burden
previously approved by OMB. This form is being submitted for renewal
purposes only.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit, and not-for-profit
institutions.
Estimated Number of Respondents: 1,000.
Estimated Time per Respondent: 3 hrs.
Estimated Total Annual Burden Hours: 5,430.
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.
[[Page 61146]]
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: September 21, 2011.
Yvette B. Lawrence,
IRS Reports Clearance Officer.
[FR Doc. 2011-25340 Filed 9-30-11; 8:45 am]
BILLING CODE 4830-01-P