[Federal Register Volume 62, Number 126 (Tuesday, July 1, 1997)]
[Notices]
[Page 35543]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-17220]


-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 3468

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

-----------------------------------------------------------------------

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 3468, Investment Credit.

DATES: Written comments should be received on or before September 2, 
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 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: Investment Credit.
    OMB Number: 1545-0155.
    Form Number: 3468.
    Abstract: Taxpayers are allowed a credit against their income taxes 
for certain expenses they incur for their trades or businesses. Form 
3468 is used to compute this investment tax credit. The information 
collected is used by the IRS to verify that the credit has been 
correctly computed.
    Current Actions: Line 7c (Adoption Credit) was added to the form to 
reflect this new credit, effective for tax years beginning after 
December 31, 1996. The new credit will become part of the computation 
of the tax liability limitation on the investment credit.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Business or other for-profit organizations, 
individuals or households, farms, and not-for-profit institutions.
    Estimated Number of Respondents: 360,000.
    Estimated Time Per Respondent: 18 hr.
    Estimated Total Annual Burden Hours: 6,480,000.
    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 24, 1997.
Garrick R. Shear,
IRS Reports Clearance Officer.
[FR Doc. 97-17220 Filed 6-30-97; 8:45 am]
BILLING CODE 4830-01-U