[Federal Register Volume 63, Number 36 (Tuesday, February 24, 1998)]
[Notices]
[Pages 9301-9302]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-4546]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service
[LR-200-76]


Proposed Collection; Comment Request For Regulation Project

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 an 
existing final regulation, LR-200-76 (TD 8069), Qualified Conservation 
Contributions (Sec. 1.170A-14).

DATES: Written comments should be received on or before April 27, 1998 
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 regulation should be directed to Carol Savage, (202) 622-
3945, Internal Revenue Service, room 5569, 1111 Constitution Avenue 
NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:
    Title: Qualified Conservation Contributions.
    OMB Number: 1545-0763.
    Regulation Project Number: LR-200-76.
    Abstract: Internal Revenue Code section 170(h) describes situations 
in which a taxpayer is entitled to a deduction for a charitable 
contribution for conservation purposes of a partial interest in real 
property. This regulation requires a taxpayer claiming a deduction for 
a qualified conservation contribution to maintain records of (1) the 
fair market value of the underlying property before and after the 
donation and (2) the conservation purpose of the donation.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households, business or other for-
profit organizations, not-for-profit institutions, farms, and Federal, 
state, local or tribal governments.
    Estimated Number of Recordkeepers: 1,000.
    Estimated Time Per Recordkeeper: 1 hour, 15 minutes.
    Estimated Total Annual Recordkeeper Hours: 1,250.
    The following paragraph applies to all of the collections of 
information covered by this notice:

[[Page 9302]]

    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: February 12, 1998.
Garrick R. Shear,
IRS Reports Clearance Officer.
[FR Doc. 98-4546 Filed 2-23-98; 8:45 am]
BILLING CODE 4830-01-U