[Federal Register Volume 63, Number 11 (Friday, January 16, 1998)]
[Notices]
[Pages 2720-2721]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-1080]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Forms 8038, 8038-G, and
8038-GC
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 Forms 8038,
Information Return for Tax-Exempt Private Activity Bond Issues, 8083-G,
Information Return for Tax-Exempt Governmental Obligations, and 8038-
GC, Information Return for Small Tax-Exempt Governmental Bond Issues,
Leases, and Installment Sales.
DATES: Written comments should be received on or before March 17, 1998
to be assured of consideration.
[[Page 2721]]
ADDRESSES: Direct all written comments to Garrick R. Shear, Internal
Revenue Service, room 5571, 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 Martha R.
Brinson, (202) 622-3869, Internal Revenue Service, room 5571, 1111
Constitution Avenue NW., Washington, DC 20224.
SUPPLEMENTARY INFORMATION:
Title: Information Return for Tax-Exempt Private Activity Bond
Issues (Form 8038), Information Return for Tax-Exempt Governmental
Obligations (Form 8038-G), and Information Return for Small Tax-Exempt
Governmental Bond Issues, Leases and Installment Sales (Form 8038-GC).
OMB Number: 1545-0720.
Form Number: 8038, 8038-G, and 8038-GC.
Abstract: Issuers of state or local bonds must comply with certain
information reporting requirements contained in Internal Revenue Code
section 149 to qualify for tax exemption. The information must be
reported by the issuers about bonds issued by them during each
preceding calendar quarter. Forms 8038, 8038-G, and 8038-GC are used to
provide the IRS with the information required by Code section 149 and
to monitor the requirements of Code sections 141 through 150.
Current Actions: There are no changes being made to the forms at
this time.
Type of Review: Extension of a currently approved collection.
Affected Public: State, local or tribal governments and not-for-
profit institutions.
Estimated Number of Respondents: 14,500.
Estimated Time Per Respondent: 59 hr., 7 min.
Estimated Total Annual Burden Hours: 857,140.
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: January 8, 1998.
Garrick R. Shear,
IRS Reports Clearance Officer.
[FR Doc. 98-1080 Filed 1-15-98; 8:45 am]
BILLING CODE 4830-01-U
