Proposed Rules. Notice and request for comments

Agency: Internal Revenue Service (IRS), Treasury
Action: Notice and request for comments
Citation: FR Doc. 2015-02862

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)). The IRS is soliciting comments concerning cooperative housing corporations.

Dates

Written comments should be received on or before April 13, 2015 to be assured of consideration.

Supplementary Information

Title: Cooperative Housing Corporations. OMB Number: 1545-1041. Regulation Project Number: T.D. 8316 Abstract: Section 1.216-1(d)(2) of this regulation allows cooperative housing corporations to make an election whereby the amounts of mortgage interest and/or real estate taxes allocated to tenant-stockholders of the corporation will be based on a reasonable estimate of the actual costs attributable to each tenant-stockholders based on the number of shares held in the corporation. Current Actions: There is no change to this existing regulation, but the estimated time per/respondents and estimated total annual burden hours have been readjusted. Type of Review: Revision of a currently approved collection. Affected Public: Individuals or households, and business or other for-profit organizations. Estimated Number of Respondents: 2,500. Estimated Time per Respondent: 30 minutes. Estimated Total Annual Burden Hours: 1,250. 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, 2015. Christie Preston, IRS Reports Clearance Officer. [FR Doc. 2015-02862 Filed 2-10-15; 8:45 am]