[Federal Register Volume 78, Number 50 (Thursday, March 14, 2013)]
[Notices]
[Pages 16363-16364]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-05851]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 8703

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 8703, Annual Certification of a Residential Rental Project.

DATES: Written comments should be received on or before May 13, 2013 to 
be assured of consideration.

ADDRESSES: Direct all written comments to Yvette Lawrence, 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 Martha R. 
Brinson at Internal Revenue Service, Room 6129, 1111 Constitution 
Avenue NW., Washington, DC 20224, or at (202) 622-3869, or through the 
Internet at [email protected].

SUPPLEMENTARY INFORMATION:
    Title: Annual Certification of a Residential Rental Project.
    OMB Number: 1545-1038.
    Form Number: 8703.
    Abstract: Form 8703 is used by the operator of a residential rental 
project to provide annual information that the IRS will use to 
determine whether a project continues to be a qualified residential 
rental project under Internal Revenue Code section 142(d). If so, and 
certain other requirements are met, bonds issued in connection with the 
project are considered ``exempt facility bonds'' and the interest paid 
on them is not taxable to the recipient.
    Current Actions: There is no change in the paperwork burden 
previously approved by OMB. This form is being submitted for renewal 
purposes only.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 6,000.
    Estimated Time per Respondent: 12 hours, 46 minutes.
    Estimated Total Annual Burden Hours: 76,620.
    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

[[Page 16364]]

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 7, 2013.
Yvette Lawrence,
IRS Reports Clearance Officer.
[FR Doc. 2013-05851 Filed 3-13-13; 8:45 am]
BILLING CODE 4830-01-P