83 FR 5295 - Proposed Information Collection; Comment Request for Regulation Project

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 83, Issue 25 (February 6, 2018)

The Internal Revenue Service, 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. The IRS is soliciting comments concerning the Notice of Income from Donated Intellectual Property.

[Federal Register Volume 83, Number 25 (Tuesday, February 6, 2018)]
[Notices]
[Page 5295]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-02318]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Information 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, 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. The IRS is soliciting comments 
concerning the Notice of Income from Donated Intellectual Property.

DATES: Written comments should be received on or before April 9, 2018 
to be assured of consideration.

ADDRESSES: Direct all written comments to Laurie Brimmer, Internal 
Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 
20224. You must reference the information collection's title, form 
number, reporting or record-keeping requirement number, and OMB number 
(if any) in your comment.

FOR FURTHER INFORMATION CONTACT: Requests for additional information, 
or copies of the information collection and instructions, or copies of 
any comments received, should be directed to LaNita Van Dyke, at 
Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, 
Washington, DC 20224, or (202) 317-6009 or, through the internet, at 
[email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Notice of Income Donated Intellectual Property.
    OMB Number: 1545-1962.
    Form Number: Form 8899.
    Abstract: Form 8899 is filed by charitable org. receiving donations 
of intellectual property if the donor provides timely notice. The 
initial deduction is limited to the donor's basis; additional 
deductions are allowed to the extent of income from the property, 
reducing excessive deductions.
    Current Actions: There is no change in the paperwork burden 
previously approved by OMB. This form is being submitted for renewal 
purposes only.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit, and not-for-profit 
institutions.
    Estimated Number of Respondents: 1,000.
    Estimated Time per Respondent: 5 hrs. 26 min.
    Estimated Total Annual Burden Hours: 5,430.
    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 our request for Office of 
Management and Budget (OMB) approval of the relevant information 
collection. All comments will become a matter of public record. Please 
do not include any confidential or inappropriate material in your 
comments.
    We invite comments on: (a) Whether the collection of information is 
necessary for the proper performance of the agency's functions, 
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 respondents, including 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 the 
requested information.

    Approved: January 23, 2018.
Laurie Brimmer,
Senior Tax Analyst.
[FR Doc. 2018-02318 Filed 2-5-18; 8:45 am]
 BILLING CODE 4830-01-P