[Federal Register Volume 68, Number 43 (Wednesday, March 5, 2003)]
[Notices]
[Page 10581]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-5184]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 8281

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, Pub. L. 104-13 (44 U.S.C. 
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning 
Form 8281, Information Return for Publicly Offered Original Issue 
Discount Instruments.

DATES: Written comments should be received on or before May 5, 2003 to 
be assured of consideration.

ADDRESSES: Direct all written comments to Glenn Kirkland, Internal 
Revenue Service, room 6411, 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 Allan 
Hopkins, (202) 622-6665, or through the internet 
([email protected]), Internal RevenueService, room 6407, 1111 
Constitution Avenue NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION: Title: Information Return for Publicly 
Offered Original Issue Discount Instruments.
    OMB Number: 1545-0887.
    Form Number: 8281.
    Abstract: Internal Revenue Code section 1275(c)(2) requires the 
furnishing of certain information to the IRS by issuers of publicly 
offered debt instruments having original issue discount. Regulations 
section 1.1275-3 prescribes that Form 8281 shall be used for this 
purpose. The information on Form 8281 is used to update Publication 
1212, List of Original Issue Discount Instruments.
    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: Businesses or other for-profit organizations.
    Estimated Number of Responses: 500.
    Estimated Time Per Response: 6 hr., 7 min.
    Estimated Total Annual Burden Hours: 3,060.
    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: February 25, 2003.
Glenn Kirkland,
IRS Reports Clearance Officer.
[FR Doc. 03-5184 Filed 3-4-03; 8:45 am]
BILLING CODE 4830-01-P