2019-21427. Proposed Collection; Comment Request for Form Project  

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    AGENCY:

    Internal Revenue Service (IRS), Treasury.

    ACTION:

    Notice and request for comments.

    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 continuing information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning carryforward election of unused private activity bond volume cap.

    DATES:

    Written comments should be received on or before December 2, 2019 to be assured of consideration.

    ADDRESSES:

    Direct all written comments to Dr. Philippe Thomas, Internal Revenue Service, Room 6529, 1111 Constitution Avenue NW, Washington, DC 20224.

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    FOR FURTHER INFORMATION CONTACT:

    Requests for additional information or copies of the form should be directed to Kerry Dennis, at (202) 317-5751 or Internal Revenue Service, Room 6529, 1111 Constitution Avenue NW, Washington, DC 20224, or through the internet, at Kerry.Dennis@irs.gov.

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    SUPPLEMENTARY INFORMATION:

    Title: Carryforward Election of Unused Private Activity Bond Volume Cap.

    OMB Number: 1545-0874.

    Form Number: Form 8328.

    Abstract: Internal Revenue Code section 4146(f) requires that an annual volume limit be placed on the amount of private activity bonds issued by each State. Code section 146(f)(3) provides that the unused amount of the private activity bonds for specific programs can be carried forward for 3 years depending on the type of project. In order to carry forward the unused amount of the private activity bond, an irrevocable election can be made by the issuing authority. Form 8328 allows the issuer to execute the carryforward election.

    Current Actions: There are no changes to the forms or regulations at his time. However, the agency is updating the number of respondents based on its most recent filing data.

    Type of Review: Revision of a currently approved collection.Start Printed Page 52594

    Affected Public: Businesses or other for-profit organizations, state, local, or tribal government.

    Estimated Number of Respondents: 200.

    Estimated Time per Respondent: 13 hours, 13 minutes.

    Estimated Total Annual Burden Hours: 2,644 hours.

    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.

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    Approved: September 16, 2019.

    Philippe Thomas,

    Supervisor Tax Analyst.

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    [FR Doc. 2019-21427 Filed 10-1-19; 8:45 am]

    BILLING CODE 4830-01-P

Document Information

Published:
10/02/2019
Department:
Internal Revenue Service
Entry Type:
Notice
Action:
Notice and request for comments.
Document Number:
2019-21427
Dates:
Written comments should be received on or before December 2, 2019 to be assured of consideration.
Pages:
52593-52594 (2 pages)
PDF File:
2019-21427.Pdf