[Federal Register Volume 68, Number 115 (Monday, June 16, 2003)]
[Notices]
[Pages 35776-35777]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-15159]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 4626

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

[[Page 35777]]

4626, Alternative Minimum Tax--Corporations.

DATES: Written comments should be received on or before August 15, 2003 
to be assured of consideration.

ADDRESSES: Direct all written comments to Glenn P. 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 Carol Savage 
at Internal Revenue Service, room 6407, 1111 Constitution Avenue NW., 
Washington, DC 20224, or at (202) 622-3945, or through the Internet at 
[email protected].

SUPPLEMENTARY INFORMATION:
    Title: Alternative Minimum Tax--Corporations.
    OMB Number: 1545-0175.
    Form Number: 4626.
    Abstract: Form 4626 is used by corporations to calculate their 
alternative minimum tax under section 55 of the Internal Revenue Code. 
The IRS uses the information on the form to determine whether the tax 
has been computed correctly.
    Current Actions: The form was overhauled to reduce its size. Low 
usage lines were eliminated (former lines 2g, 2p, and 2q) to reduce the 
form from 2 pages to 1. The adjustment and preference items was 
``unindented'' so we could eliminate a subtotal line. Also former line 
8-a was eliminated, total carry forward line (page 2). Further, a Note 
at the top of the form to alert taxpayers that if they qualify as a 
small corporation under explained on the form.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 60,000
    Estimated Time Per Respondent: 43 hr., 17 min.
    Estimated Total Annual Burden Hours: 2,923.800
    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 9, 2003.
Glenn P. Kirkland,
IRS Reports Clearance Officer.
[FR Doc. 03-15159 Filed 6-13-03; 8:45 am]
BILLING CODE 4830-01-P