[Federal Register Volume 79, Number 125 (Monday, June 30, 2014)]
[Notices]
[Pages 36875-36876]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-15283]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Form 8810
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. Currently, the IRS is soliciting comments
concerning Form 8810, Corporate Passive Activity Loss and Credit
Limitations.
DATES: Written comments should be received on or before August 29, 2014
to be assured of consideration.
ADDRESSES: Direct all written comments to R. Joseph Durbala, 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 Sara
Covington, at Internal Revenue Service, Room 6129, 1111 Constitution
Avenue NW., Washington, DC 20224, or through the Internet, at
[email protected].
SUPPLEMENTARY INFORMATION:
Title: Corporate Passive Activity Loss and Credit Limitations.
OMB Number: 1545-1091.
Form Number: 8810.
Abstract: Under Internal Revenue Code section 469, losses and
credits from passive activities, to the extent they exceed passive
income (or, in the case of credits, the tax attributable to net passive
income), are not allowed. Form 8810 is used by personal service
corporations and closely held corporations to figure the passive
activity loss and credits allowed and the amount of loss and credit to
be reported on their tax return.
Current Actions: There are no changes being made to Form 8810 at
this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Responses: 100,000.
Estimated Time per Response: 37 hr., 29 min.
Estimated Total Annual Burden Hours: 3,749,000.
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
[[Page 36876]]
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: June 18, 2014.
R. Joseph Durbala,
IRS Supervisory Tax Analyst.
[FR Doc. 2014-15283 Filed 6-27-14; 8:45 am]
BILLING CODE 4830-01-P