[Federal Register Volume 63, Number 141 (Thursday, July 23, 1998)]
[Notices]
[Page 39644]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-19695]


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

DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 8847 and Schedule A 
(Form 8847)

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 8847, Credit for Contributions to Selected Community Development 
Corporations, and Schedule A (Form 8847), Receipt, Designation and 
Certification of Qualified Contribution to a Selected Community 
Development Corporation (CDC).

DATES: Written comments should be received on or before September 21, 
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 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: Credit for Contributions to Selected Community Development 
Corporations (Form 8847), and Receipt, Designation and Certification of 
Qualified Contribution to a Selected Community Development Corporation 
(CDC) (Schedule A).
    OMB Number: 1545-1416.
    Form Number: 8847 and Schedule A (Form 8847).
    Abstract: Form 8847 is used to claim a credit for qualified 
contributions to a selected community development corporation (CDC). 
The CDC issues Schedule A (Form 8847), with Part I completed, to the 
contributor to verify the contribution and to show the amount 
designated as eligible for the credit. The contributor certifies the 
contribution made in Part II of Schedule A. The IRS uses the 
information reported on the forms to ensure that the credit is 
correctly computed.
    Current Actions: Form 8847.
    Line 6c was added for the child tax credit, and line 6d was added 
for the education credits. These new credits were added to the Internal 
Revenue Code by the Taxpayer Relief Act of 1997.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Business or other for-profit organizations and 
individuals.
    Estimated Number of Respondents: 5,000.
    Estimated Time Per Respondent: 10 hr., 20 min.
    Estimated Total Annual Burden Hours: 51,650.
    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: July 15, 1998.
Garrick R. Shear,
IRS Reports Clearance Officer.
[FR Doc. 98-19695 Filed 7-22-98; 8:45 am]
BILLING CODE 4830-01-U