[Federal Register Volume 65, Number 208 (Thursday, October 26, 2000)]
[Notices]
[Pages 64278-64279]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-27473]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

October 16, 2000.
    The Department of the Treasury has submitted the following public 
information collection requirement(s) to OMB for review and clearance 
under the Paperwork Reduction Act of 1995, Public Law 104-13. Copies of 
the submission(s) may be obtained by calling the Treasury Bureau 
Clearance Officer listed. Comments regarding this information 
collection should be addressed to the OMB reviewer listed and to the 
Treasury Department Clearance Officer, Department of the Treasury, Room 
2110, 1425 New York Avenue, NW., Washington, DC 20220.

DATES: Written comments should be received on or before November 27, 
2000 to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-0043.
    Form Number: IRS Form 972.
    Type of Review: Extension.
    Title: Consent of Shareholder To Include Specific Amount in Gross 
Income.
    Description: Form 972 is filed by shareholders of corporations to 
elect to include an amount in gross income as a dividend. The IRS uses 
Form 972 as a check to see if an amended return is filed to include the 
amount in income and to determine if the corporation claimed the 
correct amount.
    Respondents: Individuals or households, Business or other for-
profit.
    Estimated Number of Respondents/Recordkeepers: 400.
    Estimated Burden Hours Per Respondent/Recordkeeper:

Recordkeeping--13 min.
Learning about the law or the form--4 min.

[[Page 64279]]

Preparing the form--6 min. Copying, assembling and sending the form to 
the IRS--20 min.

    Frequency of Response: On occasion.
    Estimated Total Reporting/Recordkeeping Burden: 368 hours.
    OMB Number: 1545-1034.
    Form Number: IRS Form 8582-CR.
    Type of Review: Extension.
    Title: Passive Activity Credit Limitations.
    Description: Under section 469, credits from passive activities, to 
the extent they do not exceed the tax attributable to net passive 
income, are not allowed. Form 8582-CR is used to figure the passive 
activity credit allowed and the amount of credit to be reported on the 
tax return.
    Respondents: Individuals or households, Business or other for-
profit.
    Estimated Number of Respondents/Recordkeepers: 900,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

Recordkeeping--2 hr., 5 min.
Learning about the law or the form--6 hr., 5 min.
Preparing the form--4 hr., 21 min.
Copying, assembling and sending the form to the IRS--2 hr., 11 min.
    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 7,017,300 hours.
    OMB Number: 1545-1288.
    Form Number: IRS Form 8828.
    Type of Review: Extension.
    Title: Recapture of Federal Mortgage Subsidy.
    Description: Form 8828 is needed to compute the section 143(m) tax 
on recapture of the Federal subsidy from use of qualified mortgage 
bonds and mortgage credit certificates in cases where the financing is 
provided after 1990 and the home subject to the financing is sold 
during the first 9 years after financing was provided. IRS uses the 
information to determine that the proper amount of Federal subsidy is 
recaptured.
    Respondents: Individuals or households.
    Estimated Number of Respondents/Recordkeepers: 1,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:
Recordkeeping--1 hr., 18 min.
Learning about the law or the form--22 min.
Preparing the form--46 min.
Copying, assembling, and sending the form to the IRS--20 min.
    Frequency of Response: Other (for year of sale of home).
    Estimated Total Reporting/Recordkeeping Burden: 2,678 hours.
    Clearance Officer: Garrick Shear, Internal Revenue Service, Room 
5244, 1111 Constitution Avenue, NW., Washington, DC 20224.
    OMB Reviewer: Alexander T. Hunt (202) 395-7860, Office of 
Management and Budget, Room 10202, New Executive Office Building, 
Washington, DC 20503.

Lois K. Holland,
Departmental Reports Management Officer.
[FR Doc. 00-27473 Filed 10-25-00; 8:45 am]
BILLING CODE 4830-01-P