[Federal Register Volume 68, Number 112 (Wednesday, June 11, 2003)]
[Notices]
[Pages 35061-35062]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-14790]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 8844

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 8844, Empowerment Zone Employment Credit. DATES: Written comments 
should be received on or before August 11, 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 Larnice Mack 
at Internal Revenue Service, room 6407, 1111 Constitution Avenue NW., 
Washington, DC 20224, or at (202) 622-3179, or through the Internet at 
[email protected].

SUPPLEMENTARY INFORMATION:
    Title: Empowerment Zone Employment Credit.
    OMB Number: 1545-1444.
    Form Number: 8844.
    Abstract: Employers who hire employees who live and work in one of 
the eleven designated empowerment zones can receive a tax credit for 
the first $15,000 of wages paid to each employee. The credit is 
applicable from the date of designation through the year 2004.
    Current Actions: The order of Part II, Tax Liability Limit, was 
revised for this form. Section 501 of Public Law 106-170 extended the 
provision that allows individuals to offset the regular tax liability 
in full for personal credits. Previously filers were allowed to claim 
credits to the extent that the regular tax liability exceeded the 
tentative minimum tax. For tax years beginning in 2000 and 2001, 
personal nonrefundable credits may offset both the regular tax and the 
minimum tax. Also, the computation was changed in Part II to reflect 
and to conform to changes that were made to the tax computation on Form 
1040. A new line 13 was added to show the sum of the regular tax before 
credits and the alternative minimum tax. Also, because the alternative 
minimum tax is added to the regular tax (line 13), we no longer need to 
differentiate how the credit is

[[Page 35062]]

applied against income tax and alternative minimum tax. Therefore, 
lines 24 and 25 were eliminated. In addition, the instructions were 
revised to include two new urban empowerment zones, Cleveland, OH, and 
Los Angeles, CA.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Business or other for-profit organizations, 
individuals or households, farms and non-profit institutions.
    Estimated Number of Respondents: 40,000.
    Estimated Time Per Response: 15 hours., 40 minutes.
    Estimated Total Annual Burden Hours: 586,800.
    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: June 4, 2003.
Glenn Kirkland,
IRS Reports Clearance Officer.
[FR Doc. 03-14790 Filed 6-10-03; 8:45 am]
BILLING CODE 4830-01-P