[Federal Register Volume 89, Number 50 (Wednesday, March 13, 2024)]
[Notices]
[Pages 18484-18485]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-05334]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 8582

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, Passive Activity 
Los Limitations.

DATES: Written comments should be received on or before May 13, 2024 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, or by email to [email protected]. Include ``OMB Number 1545-
1008--Passive Activity Loss Limitations'' in the subject line of the 
message.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of this collection should be directed to Martha R. Brinson, at 
(202)

[[Page 18485]]

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: Passive Activity Loss Limitations.
    OMB Number: 1545-1008.
    Form Number: 8582.
    Abstract: Internal Revenue Code section 469 limits the passive 
activity losses that a taxpayer may deduct. The passive activity losses 
from passive activities, to the extent that they exceed income from 
passive activities, cannot be deducted against nonpassive income. Form 
8582 is used to figure the passive activity loss allowed and the actual 
loss to be reported on the tax returns.
    Current Actions: There is no change to the form at this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households, estates, and trusts.
    Estimated Number of Respondents: 250,000.
    Estimated Time per Respondent: 3 hours, 30 minutes.
    Estimated Total Annual Burden Hours: 875,000.
    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: March 5, 2024.
Martha R. Brinson,
Tax Analyst.
[FR Doc. 2024-05334 Filed 3-12-24; 8:45 am]
BILLING CODE 4830-01-P