[Federal Register Volume 83, Number 118 (Tuesday, June 19, 2018)]
[Notices]
[Page 28491]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-13073]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Form 8881
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
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SUMMARY: 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
proposed and/or continuing information collections, as required by the
Paperwork Reduction Act of 1995. The IRS is soliciting comments
concerning Form 8881, Credit for Small Employer Pension Plan Startup
Costs.
DATES: Written comments should be received on or before August 20, 2018
to be assured of consideration.
ADDRESSES: Direct all written comments to Laurie Brimmer, 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, at (202) 317-6038, Internal Revenue Service, Room 6526, 1111
Constitution Avenue NW, Washington, DC 20224, or through the internet,
at [email protected].
SUPPLEMENTARY INFORMATION:
Title: Credit for Small Employer Pension Plan Startup Costs.
OMB Number: 1545-1810.
Form Number: 8881.
Abstract: Qualified small employers use Form 8881 to claim a credit
for start up costs related to eligible retirement plans. Form 8881
implements section 45E, which provides a credit based on costs incurred
by an employer in establishing or administering an eligible employer
plan or for the retirement-related education of employees with respect
to the plan. The credit is 50% of the qualified costs for the tax year,
up to a maximum credit of $500 for the first tax year and each of the
two subsequent tax years.
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 for-profit organizations.
Estimated Number of Respondents: 66,667.
Estimated Time per Respondent: 3 hours, 32 minutes.
Estimated Total Annual Burden Hours: 235,335.
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: June 12, 2018.
Laurie Brimmer,
Senior Tax Analyst.
[FR Doc. 2018-13073 Filed 6-18-18; 8:45 am]
BILLING CODE 4830-01-P