[Federal Register Volume 67, Number 188 (Friday, September 27, 2002)]
[Notices]
[Page 61196]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-24560]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

September 19, 2002.
    The Department of the Treasury has submitted the following public 
information collection requirement(s) to OMB for review and clearance 
under the Paperwork Reduction Act of 1995, Public Law 104-13. Copies of 
the submission(s) may be obtained by calling the Treasury Bureau 
Clearance Officer listed. Comments regarding this information 
collection should be addressed to the OMB reviewer listed and to the 
Treasury Department Clearance Officer, Department of the Treasury, Room 
2110, 1425 New York Avenue, NW., Washington, DC 20220.

DATES: Written comments should be received on or before October 28, 
2002, to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-1091.
    Form Number: IRS Form 8810.
    Type of Review: Extension.
    Title: Corporate Passive Activity Loss and Credit Limitations.
    Description: Under section 469, losses and credits from passive 
activities, to the extent they exceed passive income (or, in the case 
of credits, the tax attributable to net passive income), are not 
allowed. Form 8810 is used by personal service corporations and closely 
held corporations to figure the passive activity loss and credits 
allowed and the amount of loss and credit to be reported on their tax 
return.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents/Recordkeepers: 100,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

Recordkeeping--26 hr., 18 min.
Learning about the law or the form--5 hr., 15 min.
Preparing and sending the form to the IRS--5 hr., 55 min.

    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 3,749,000 hours.

    OMB Number: 1545-1675.
    Regulation Project Number: REG-122450-98 Final; REG-100276-97 and 
REG-122450-98 NPRM.
    Type of Review: Extension.
    Title: Real Estate Mortgage Investment Conduits; Financial Asset 
Securitization Investment Trusts; and Real Estate Mortgage Investment 
Conduits.
    Description: REG-122450-98 Sections 1.860E-1(c)(4)-(10) of the 
Treasury Regulations provide circumstances under which a transferor of 
a noneconomic residual interest in a Real Estate Investment Conduit 
(REMIC) meeting the investigation, and two representation requirements 
may avail itself of the safe harbor by satisfying either the formula 
test or asset test.
    REG-100276-97; REG-122450-98 This regulation provides start-up and 
transitional rules applicable to financial asset securitization 
investment trust.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents: 620.
    Estimated Burden Hours Per Respondent: 1 hour.
    Frequency of Response: Annually, Other (one-time reporting 
requirement).
    Estimated Total Reporting Burden: 1,220 hours.
    Clearance Officer: Glenn Kirkland, Internal Revenue Service, Room 
6411-03, 1111 Constitution Avenue, NW., Washington, DC 20224. (202) 
622-3428.
    OMB Reviewer: Joseph F. Lackey, Jr., Office of Management and 
Budget, Room 10235, New Executive Office Building, Washington, DC 
20503. (202) 395-7316.

Mary A. Able,
Departmental Reports, Management Officer.
[FR Doc. 02-24560 Filed 9-26-02; 8:45 am]
BILLING CODE 4830-01-P