[Federal Register Volume 70, Number 50 (Wednesday, March 16, 2005)]
[Notices]
[Page 12955]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 05-5228]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Forms 8329 and 8330

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 8329, Lender's Information Return for Mortgage Credit Certificates 
(MCCs) and Form 8330, Issuer's Quarterly Information Return for 
Mortgage Credit Certificates (MCCs).

DATES: Written comments should be received on or before May 16, 2005 to 
be assured of consideration.

ADDRESSES: Direct all written comments to Glenn P. Kirkland, Internal 
Revenue Service, Room 6516, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the form(s) and instructions should be directed to R. Joseph 
Durbala, (202) 622-3945, Internal Revenue Service, Room 6516, 1111 
Constitution Avenue NW., Washington, DC 20224, or through the Internet 
at [email protected].

SUPPLEMENTARY INFORMATION: Title: Form 8329, Lender's Information 
Return for Mortgage Credit Certificates (MCCs) and Form 8330, Issuer's 
Quarterly Information Return for Mortgage Credit Certificates (MCCs).
    OMB Number: 1545-0922.
    Form Number: Forms 8329 and 8330.
    Abstract: Form 8329 is used by lending institutions and Form 8330 
is used by State and local governments to provide the IRS with 
information on the issuance of mortgage credit certificates (MCCs) 
authorized under Internal Revenue Code section 25. IRS matches the 
information supplied by lenders and issuers to ensure that the credit 
is computed properly.
    Current Actions: There are no changes being made to these forms at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations, and 
State, local or tribal governments.
    Estimated Number of Responses: 10,000--Form 8329; 2,000--Form 8330.
    Estimated Time Per Response: 5 hours, 53 minutes--Form 8329; 7 
hours, 28 minutes--Form 8330.
    Estimated Total Annual Burden Hours: 58,800--Form 8329; 14,920--
Form 8330.
    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: March 11, 2005.
Glenn P. Kirkland,
IRS Reports Clearance Officer.
[FR Doc. 05-5228 Filed 3-15-05; 8:45 am]
BILLING CODE 4830-01-P