[Federal Register Volume 65, Number 51 (Wednesday, March 15, 2000)]
[Notices]
[Pages 14015-14016]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-6271]


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

DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Forms 8288 and 8288-A

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 8288, U.S. Withholding Tax Return for Dispositions by Foreign 
Persons of U.S. Real Property Interests, and Form 8288-A, Statement of 
Withholding on Dispositions by Foreign Persons of U.S. Real Property 
Interests.

DATES: Written comments should be received on or before May 15, 2000, 
to be assured of consideration.

ADDRESSES: Direct all written comments to Garrick R. Shear, Internal 
Revenue Service, room 5244, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the forms and instructions should be directed to Martha R. 
Brinson, (202) 622-3869, Internal Revenue Service, room 5244, 1111 
Constitution Avenue NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:
    Title: U.S. Withholding Tax Return for Dispositions by Foreign 
Persons of U.S. Real Property Interests (Form 8288) and Statement of 
Withholding on Dispositions by Foreign Persons of U.S. Real Property 
Interests (Form 8288-A).
    OMB Number: 1545-0902
    Form Number: 8288 and 8288-A
    Abstract: Internal Revenue Code section 1445 requires transferees 
to withhold tax on the amount realized from sales or other dispositions 
by foreign persons of U.S. real property interests. Form 8288 is used 
to report and transmit the amount withheld to the IRS. Form 8288-A is 
used by the IRS to validate the withholding, and a copy is returned to 
the transferor for his or her use in filing a tax return.
    Current Actions: An optional box for the phone number of the buyer 
or other transferee was added in Part I and Part II at the request of 
the FIRPTA Unit in Philadelphia.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Business or other for-profit organizations and 
individuals or households.
    Estimated Number of Respondents: 4,918.
    Estimated Time Per Respondent: 22 hr., 36 min.
    Estimated Total Annual Burden Hours: 111,161.
    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

[[Page 14016]]

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: March 3, 2000.
Garrick R. Shear,
IRS Reports Clearance Officer.
[FR Doc. 00-6271 Filed 3-14-00; 8:45 am]
BILLING CODE 4830-01-P