[Federal Register Volume 61, Number 16 (Wednesday, January 24, 1996)]
[Notices]
[Page 1998]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-1062]



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DEPARTMENT OF THE TREASURY

Agency Information Collection Activities; Comment Request

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. Currently, the IRS is soliciting 
comments concerning an existing final regulation (IA-5-92), Carryover 
of Passive Activity Losses and Credits and At Risk Losses to Bankruptcy 
Estates of Individuals.

DATES: Written comments should be received on or before March 25, 1996 
to be assured of consideration.

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 information collection 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: Carryover of Passive Activity Losses and Credits and at Risk 
Losses to Bankruptcy Estates of Individuals.
    OMB Number: 1545-1375.
    Regulation Project Number: IA-5-92 Final.
    Abstract: These regulations provide rules for the carryover of a 
debtor's passive activity loss and credit under section 469 and any 
``at risk'' losses under section 465 to the bankruptcy estate. The 
regulations apply to cases under chapter 7 or chapter 11 of title 11 of 
the United States Code.
    Current Actions: There is no change to the collection of 
information in this existing regulation.
    Type of Review: Extension of OMB approval.
    Affected Public: Individuals or households.
    Estimated Number of Respondents: 600,000.
    Estimated Time per Respondent: The estimated annual burden per 
respondent varies from .5 hour to 1.5 hour, depending on individual 
circumstances, with an estimated average of 1 hour.
    Estimated Total Annual Burden Hours: 600,000.

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. Written comments should address the 
accuracy of the burden estimates and ways to minimize burden including 
the use of automated collection techniques or the use of other forms of 
information technology, as well as other relevant aspects of the 
information collection request.

    Approved: January 17, 1996.
Garrick R. Shear,
IRS Reports Clearance Officer.
[FR Doc. 96-1062 Filed 1-23-96; 8:45 am]
BILLING CODE 4930-01-P