[Federal Register Volume 85, Number 62 (Tuesday, March 31, 2020)]
[Notices]
[Pages 17949-17950]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-06657]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 8874-A

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. Currently, the IRS is soliciting 
comments concerning Form 8874-A, Notice of Qualified Equity Investment 
for New Markets Credit.

[[Page 17950]]


DATES: Written comments should be received on or before June 1, 2020 to 
be assured of consideration.

ADDRESSES: Direct all written comments to R. Joseph Durbala, Internal 
Revenue Service, Room 6526, 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 LaNita Van 
Dyke at (202)317-6009, at Internal Revenue Service, Room 6526, 1111 
Constitution Avenue NW, Washington, DC 20224, or through the internet 
at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Notice of Qualified Equity Investment for New Markets 
Credit.
    OMB Number: 1545-2065.
    Form Number: 8874-A.
    Abstract: CDEs must provide notice to any taxpayer who acquires a 
qualified equity investment in the CDE at its original issue that the 
equity investment is a qualified equity investment entitling the 
taxpayer to claim the new markets credit. Form 8874-A is used to make 
the notification as required under section 1.45D-1(g)(2)(i)(A).
    Current Actions: There are no changes being made to the form at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individual or households, Business or other for-
profit.
    Estimated Number of Respondents: 500.
    Estimated Time per Respondent: 5 hours and 26 minutes.
    Estimated Total Annual Burden Hours: 2,715.
    The following paragraph applies to all 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 if 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 using 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 25, 2020.
R. Joseph Durbala,
IRS Tax Analyst.
[FR Doc. 2020-06657 Filed 3-30-20; 8:45 am]
BILLING CODE 4830-01-P