[Federal Register Volume 80, Number 240 (Tuesday, December 15, 2015)]
[Notices]
[Page 77702]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-31455]
[[Page 77702]]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Form 8038-CP
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 8038-CP, Return for Credit Payments to Issuers of Qualified Bonds.
DATES: Written comments should be received on or before February 16,
2016 to be assured of consideration.
ADDRESSES: Direct all written comments to Michael Joplin, 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: Return for Credit Payments to Issuers of Qualified Bonds.
OMB Number: 1545-2142.
Form Number: Form 8038-CP.
Abstract: Form 8038-CP, Return for Credit Payments to Issuers of
Qualified Bonds, was developed to carry out the provisions of the
American Recovery and Reinvestment Act of 2009. It provides State and
local governments with the option of issuing a tax credit bond instead
of a tax-exempt governmental obligation bond. The bill gives state and
local governments the option to receive a direct payment from the
Federal government equal to a subsidy that would have been received
through the Federal tax credit for bonds.
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: Businesses and other for-profit organizations,
Farms.
Estimated Number of Respondents: 20,000.
Estimated Time per Respondent: 12 hours 20 minutes.
Estimated Total Annual Burden Hours: 246,600.
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: December 4, 2015.
Michael A Joplin,
IRS Supervisory Tax Analyst.
[FR Doc. 2015-31455 Filed 12-14-15; 8:45 am]
BILLING CODE 4830-01-P