[Federal Register: February 10, 2004 (Volume 69, Number 27)]
[Notices]
[Page 6375-6376]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr10fe04-165]
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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 April 12, 2004
to be assured of consideration.
ADDRESSES: Direct all written comments to Glenn Kirkland, Internal
Revenue Service, room 6411, 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 Larnice Mack
at Internal Revenue Service, room 6407, 1111 Constitution Avenue NW.,
Washington, DC 20224, or at (202) 622-3179, or through the Internet at
Larnice.Mack@irs.gov.
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
[[Page 6376]]
are considered ``exempt facility bonds'' and the interest paid on them
is not taxable to the recipient.
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: Business or other for-profit organizations.
Estimated Number of Respondents: 6000.
Estimated Time Per Respondent: 6 hours, 32 minutes.
Estimated Total Annual Burden Hours: 39,180.
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 4, 2004.
Glenn Kirkland,
IRS Reports Clearance Officer.
[FR Doc. 04-2856 Filed 2-9-04; 8:45 am]
BILLING CODE 4830-01-P