[Federal Register Volume 74, Number 135 (Thursday, July 16, 2009)]
[Notices]
[Page 34638]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-16884]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 6198

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 6198, At-Risk Limitations.

DATES: Written comments should be received on or before September 14, 
2009 to be assured of consideration.

ADDRESSES: Direct all written comments to R. Joseph Durbala, Internal 
Revenue Service, Room 6129, 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 Dawn Bidne, 
at (202) 622-3933, or at Internal Revenue Service, Room 6129, 1111 
Constitution Avenue, NW., Washington, DC 20224, or through the Internet 
at [email protected].

SUPPLEMENTARY INFORMATION:
    Title: At-Risk Limitations.
    OMB Number: 1545-0712.
    Form Number: Form 6198.
    Abstract: Internal Revenue Code section 465 requires taxpayers to 
limit their at-risk loss to the lesser of the loss or their amount at 
risk. Form 6198 is used by taxpayers to determine their deductible loss 
and by IRS to verify the amount deducted.
    Current Actions: There are no changes being made to the form at 
this time. However, there is a change in burden. Previously the burden 
of this collection was 914,419 hours however, after analyzing the 
previous burden computation and finding an error, the burden 
computation has been re-evaluated, resulting in a total burden of 
753,186 hours.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Business or other for-profit organizations, and 
individuals, not-for-profit institutions, and farms.
    Estimated Number of Respondents: 230,332.
    Estimated Time per Respondent: 3 hrs. 16 min.
    Estimated Total Annual Burden Hours: 753,186.
    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: July 9, 2009.
R. Joseph Durbala,
IRS Reports Clearance Officer.
[FR Doc. E9-16884 Filed 7-15-09; 8:45 am]
BILLING CODE 4830-01-P