[Federal Register Volume 61, Number 133 (Wednesday, July 10, 1996)]
[Notices]
[Pages 36417-36418]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-17573]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 8823

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 
Form 8823, Low-Income Housing Credit Agencies Report of Noncompliance.

DATES: Written comments should be received on or before September 9, 
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 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: Low-Income Housing Credit Agencies Report of Noncompliance.
    OMB Number: 1545-1204
    Form Number: 8823
    Abstract: Under Internal Revenue Code section 42(m)(1)(B)(iii), 
state housing credit agencies are required to notify the IRS of 
noncompliance with the low-income housing tax credit provisions. A 
separate form must be filed for each building that is not in 
compliance. The IRS uses this information to determine whether the low-
income housing credit is being correctly claimed and whether there is 
any credit recapture.
    Current Actions: The format of Form 8823 is being redesigned so 
that it can be processed using an optical scanner. Checkboxes are being 
added in item 4 for the filer to indicate whether the taxpayer 
identification number entered is an employer identification number 
(EIN) or a social security number (SSN). Both numbers have 9 digits and 
sometimes the hyphen(s) are not entered correctly. Four new entries are 
being added to new item 6 showing information about the buildng. Item 
7, which asked for a description of noncompliance, is being replaced by 
new item 9 which contains checkboxes for the 10 most common reasons for 
noncompliance and checkboxes for those issues that have been corrected. 
New item 10 is a checkbox to indicate if additional information about 
noncompliance is attached.
    Type of Review: Revision of a currently approved collection.
    Affected Public: State or local government housing credit agencies.
    Estimated Number of Respondents: 56.
    Estimated Time Per Respondent: 1,271 hrs. 26 min.
    Estimated Total Annual Burden Hours: 71,200.

[[Page 36418]]

    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: July 25, 1996.
Garrick R. Shear,
IRS Reports Clearance Officer.
[FR Doc. 96-17573 Filed 7-9-96; 8:45 am]
BILLING CODE 4830-01-P