[Federal Register Volume 75, Number 128 (Tuesday, July 6, 2010)]
[Notices]
[Page 38874]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-16231]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
[PS-78-91; PS-50-92; and REG-114664-97]
Proposed Collection; Comment Request for Regulation Project
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
existing final regulations, PS-78-91 (TD 8430), Procedure for
Monitoring Compliance With Low-Income Housing Credit Requirements; PS-
50-92 (TD 8521), Rules To Carry Out the Purposes of Section 42 and for
Correcting Administrative Errors and Omissions; and REG-114664-97 (TD
8859), Compliance Monitoring and Miscellaneous Issues Relating to the
Low-Income Housing Credit (Sec. Sec. 1.42-5, 1.42-13, and 1.42-17).
DATES: Written comments should be received on or before September 7,
2010 to be assured of consideration.
ADDRESSES: Direct all written comments to Gerald Shields, Internal
Revenue Service, Room 6411, 1111 Constitution Avenue, NW., Washington,
DC 20224.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the regulations should be directed to Elaine Christophe,
(202) 622-3179, or at Internal Revenue Service, Room 6129, 1111
Constitution Avenue, NW., Washington, DC 20224, or through the
Internet, at [email protected].
SUPPLEMENTARY INFORMATION: Title: PS-78-91, Procedure for Monitoring
Compliance With Low-Income Housing Credit Requirements; PS-50-92, Rules
To Carry Out the Purposes of Section 42 and for Correcting
Administrative Errors and Omissions; and REG-114664-97, Compliance
Monitoring and Miscellaneous Issues Relating to the Low-Income Housing
Credit.
OMB Number: 1545-1357.
Regulation Project Numbers: PS-78-91; PS-50-92; and REG-114664-97.
Abstract: PS-78-91 This regulation requires state allocation plans
to provide a procedure for state and local housing credit agencies to
monitor for compliance with the requirements of Code section 42 and
report any noncompliance to the IRS. PS-50-92 This regulation concerns
the Secretary of the Treasury's authority to provide guidance under
Code section 42 and allows state and local housing credit agencies to
correct administrative errors and omissions made in connection with
allocations of low-income housing credit dollar amounts and
recordkeeping within a reasonable period after their discovery. REG-
114664-97 This regulation amends the procedures for state and local
housing credit agencies' compliance monitoring and the rules for state
and local housing credit agencies' correction of administrative errors
or omissions.
Current Actions: There is no change to these existing regulations.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations,
individual or households, not-for-profit institutions, and state, local
or tribal governments.
Estimated Number of Respondents: 22,141.
Estimated Time per Respondent: 4 hours, 45 minutes.
Estimated Total Annual Burden Hours: 104,899.
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 22, 2010.
Gerald Shields,
IRS Supervisory Tax Analyst.
[FR Doc. 2010-16231 Filed 7-2-10; 8:45 am]
BILLING CODE 4830-01-P