[Federal Register Volume 62, Number 7 (Friday, January 10, 1997)]
[Notices]
[Page 1492]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-528]



[[Page 1492]]

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DEPARTMENT OF THE TREASURY
Internal Revenue Service


Proposed Collection; Comment Request For Form 8508

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 8508, Request for Waiver From Filing Information Returns on 
Magnetic Media.

DATES: Written comments should be received on or before March 11, 1997 
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 Carol 
Savage, (202) 622-3945, Internal Revenue Service, room 5569, 1111 
Constitution Avenue NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

    Title: Request for Waiver From Filing Information Returns on 
Magnetic Media.
    OMB Number: 1545-0957.
    Form Number: Form 8508.
    Abstract: Certain filers of information returns are required by law 
to file on magnetic media. In some instances, waivers from this 
requirement are necessary and justified. Form 8508 is submitted by the 
filer and provides information on which Internal Revenue Service will 
base its waiver determination.
    Current Actions: On Form 8508 box 10 was eliminated because box 11 
provided sufficient information and more closely follows the regulation 
regarding undue hardship. Also, box 7 will include territorial W-2s 
which now have the same magnetic/electronic filing requirements as 
other information returns.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Businesses or other for-profit organizations, non-
profit institutions, farms, Federal Government, and state, local or 
tribal government.
    Estimated Number of Respondents: 1,000.
    Estimated Time Per Respondent: 45 minutes.
    Estimated Total Annual Burden Hours: 750.
    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: January 6, 1997.
Garrick R. Shear,
IRS Reports Clearance Officer.
[FR Doc. 97-528 Filed 1-9-97; 8:45 am]
BILLING CODE 4830-01-U