[Federal Register Volume 75, Number 42 (Thursday, March 4, 2010)]
[Notices]
[Pages 10025-10026]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-4474]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Forms 8038, 8038-G, and 
8038-GC

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 8038, Information Return for Tax-Exempt Private Activity Bond 
Issues, Form 8038-G, Information Return for Tax-Exempt Governmental 
Obligation, and Form 8038-GC, Information Return for Small Tax-Exempt 
Governmental Bond Issues, Leases, and Installment Sales.

DATES: Written comments should be received on or before May 3, 2010 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 forms and instructions should be directed to Allan 
Hopkins at Internal Revenue Service, Room 6129, 1111 Constitution 
Avenue, NW., Washington, DC 20224, or at (202) 622-6665, or through the 
Internet at [email protected].

SUPPLEMENTARY INFORMATION:
    Title: Information Return for Tax-Exempt Private Activity Bond 
Issues (Form 8038), Information Return for Tax-Exempt Governmental 
Obligation (Form 8038-G), and Information Return for Small Tax-Exempt 
Governmental Bond Issues, Leases, and Installment Sales (Form 8038-GC).
    OMB Number: 1545-0720.
    Form Number: 8038, 8038-G, and 8038-GC.
    Abstract: Issuers of state or local bonds must comply with certain 
information reporting requirements contained in Internal Revenue Code 
section 149 to qualify for tax exemption. The information must be 
reported by the issuers about bonds issued by them

[[Page 10026]]

during each preceding calendar quarter. Forms 8038, 8038-G, and 8038-GC 
are used to provide the IRS with the information required by Code 
section 149 and to monitor the requirements of Code sections 141 
through 150.
    Current Actions: There are no changes being made to the forms at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: State, Local or Tribal Governments and not-for-
profit institutions.
    Estimated Number of Respondents: 39,491.
    Estimated Time per Response: 21 hours, 4 minutes.
    Estimated Total Annual Burden Hours: 831,714.
    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 22, 2010.
R. Joseph Durbala,
Supervisory Tax Analyst.
[FR Doc. 2010-4474 Filed 3-3-10; 8:45 am]
BILLING CODE 4830-01-P