[Federal Register Volume 86, Number 217 (Monday, November 15, 2021)]
[Notices]
[Page 63090]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-24826]



[[Page 63090]]

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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Regulation Project

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Internal Revenue Service (IRS), 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 information collections, as required by the Paperwork Reduction Act 
of 1995. The IRS is soliciting comments concerning Election Involving 
the Repeal of the Bonding Requirement.

DATES: Written comments should be received on or before January 14, 
2022 to be assured of consideration.

ADDRESSES: Direct all written comments to Andres Garcia, Internal 
Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 
20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of this revenue procedure should be directed to Martha R. 
Brinson, at (202) 317-5753, or at Internal Revenue Service, Room 6526, 
1111 Constitution Avenue NW, Washington, DC 20224, or through the 
internet at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Election Involving the Repeal of the Bonding Requirement.
    OMB Number: 1545-2120.
    Revenue Procedure Number: 2008-60.
    Abstract: This revenue procedure affects taxpayers who are 
maintaining a surety bond or a Treasury Direct Account (TDA) to satisfy 
the low-income housing tax credit recapture exception in Sec.  42(j)(6) 
of the Internal Revenue Code (the Code), as in effect on or before July 
30, 2008. This revenue procedure provides the procedures for taxpayers 
to follow when making the election under section 3004(i)(2)(B)(ii) of 
the Housing Assistance Tax Act of 2008 (Pub. L. 110-289) (the Act) to 
no longer maintain a surety bond or a TDA to avoid recapture.
    Current Actions: There are no changes to the paperwork burden 
previously approved by OMB.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals and Households, Businesses and other-
for-profit organizations.
    Estimated Number of Respondents: 7,810.
    Estimated Time per Respondent: 1 hour.
    Estimated Total Annual Burden Hours: 7,810.
    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. 
Comments will be 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 has 
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 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: November 9, 2021.
Martha R. Brinson,
Tax Analyst.
[FR Doc. 2021-24826 Filed 11-12-21; 8:45 am]
BILLING CODE 4830-01-P