SUPPLEMENTARY INFORMATION:

The IRS, in accordance with the Paperwork Reduction Act of 1995 (PRA) (44 U.S.C. 3506(c)(2)(A)), provides the general public and Federal agencies with an opportunity to comment on proposed, revised, and continuing collections of information. This helps the IRS assess the impact and minimize the burden of its information collection requirements. 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, and viewable on relevant websites. For this reason, please do not include in your comments information of a confidential nature, such as sensitive personal information. 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.

Title: Time and Manner of Making Certain Elections Under the Technical and Miscellaneous Revenue Act of 1988.

OMB Control Number: 1545-1112.

Abstract: Section 301.9100-8 provides rules governing the time and manner for making certain elections under the Technical and Miscellaneous Revenue Act of 1988. The regulation specifies when eligible taxpayers must make the applicable elections, the information that must be provided, and the manner in which the elections are made, generally through statements attached to Federal tax returns or other prescribed filings. The information is used by the Internal Revenue Service to identify the election being made, determine whether the taxpayer is eligible to make the election, and administer the applicable provisions of the Internal Revenue Code. The affected respondents are taxpayers eligible to make the elections addressed by the regulation.

Current Actions: There are no changes being made to this regulation or burden estimates at this time.

Type of Review: Extension of a currently approved collection.

Affected Public: Individuals or households, businesses or other for- ( printed page 64241) profit organizations, State, Local, or Tribal Governments.

Estimated Number of Respondents: 21,740.

Estimated Time per Response: 17 minutes.

Estimated Total Annual Burden Hours: 6,010.