[Federal Register Volume 65, Number 122 (Friday, June 23, 2000)]
[Notices]
[Pages 39227-39228]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-15868]


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

DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request For Form 8853

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 8853, Medical Savings Accounts and Long-Term Care Insurance 
Contracts.

DATES: Written comments should be received on or before August 22, 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 form and instructions should be directed to Carol Savage, 
(202) 622-3945, Internal Revenue Service, room 5242, 1111 Constitution 
Avenue NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:
    Title: Medical Savings Accounts and Long-Term Care Insurance 
Contracts.
    OMB Number: 1545-1561.
    Form Number: 8853.
    Abstract: This form is used by individuals to report general 
information about their medical savings accounts (MSAs), to figure 
their MSA deductions, and to figure their taxable distributions from 
MSAs. The form is also used to report taxable payments from long-term 
care (LTC) contracts.
    Current Actions: Part I of Section A, General Information, was 
deleted because it is no longer needed. Section 301(k) of the Health 
Insurance Portability and Accountability Act of 1996 required 
collection of the information requested in Part I only from returns 
filed before 2001. On page 5 of the instructions, a worksheet was added 
to figure the amount of any additional 50% tax on distributions from a 
Medicare+Choice MSA. I.R.C. Sec. 138(c)(2) provides that the amount of 
any additional tax is affected by the value of the MSA on December 31 
of the prior year. Because 1999 was the first year for making 
contributions to Medicare+Choice MSAs, 2000 is the first year in which 
the I.R.C. Sec. 138(c)(2) limitation applies.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Individuals or households.
    Estimated Number of Respondents: 36,000.
    Estimated Time Per Respondent: 1 hour, 44 minutes.
    Estimated Total Annual Burden Hours: 62,605.
    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 of 
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.


[[Page 39228]]


    Approved: June 16, 2000.
Garrick R. Shear,
IRS Reports Clearance Officer.
[FR Doc. 00-15868 Filed 6-22-00; 8:45 am]
BILLING CODE 4830-01-U