[Federal Register Volume 67, Number 22 (Friday, February 1, 2002)]
[Notices]
[Pages 5035-5036]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-2534]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 8050

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 
Form 8050, Direct Deposit of Corporate Tax Refund.

DATES: Written comments should be received on or before April 2, 2002, 
to be assured of consideration.

ADDRESSES: Direct all written comments to George Freeland, Internal 
Revenue Service, room 5577, 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, or through the internet ([email protected].), 
Internal Revenue Service, room 5242, 1111 Constitution Avenue NW., 
Washington, DC 20224.

SUPPLEMENTARY INFORMATION:
    Title: Direct Deposit of Corporate Tax Refund.
    OMB Number: 1545-1762.
    Form Number: 8050.
    Abstract: Form 8050 is used to request that the IRS deposit a tax 
refund of ($1 million or more) directly into an account at any U.S. 
bank or other financial institution (such as a mutual fund, credit 
union, or brokerage firm) that accepts direct deposits.
    Current Actions: There are no changes being made to the form at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations, and 
individuals or households.
    Estimated Number of Respondents: 210,000.
    Estimated Time Per Respondent: 1 hour, 40 minutes.
    Estimated Total Annual Burden Hours: 348,600.
    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

[[Page 5036]]

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: January 28, 2002.
George Freeland,
IRS Reports Clearance Officer.
[FR Doc. 02-2534 Filed 1-31-02; 8:45 am]
BILLING CODE 4830-01-P