Proposed Collection; Comment Request for Form 8842

DEPARTMENT OF THE TREASURY

Proposed Collection; Comment Request for Form 8842

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 8842, Election To Use Different Annualization Periods for

Corporate Estimated Tax.

DATES: Written comments should be received on or before July 8, 1996 to

be assured of consideration.

ADDRESSES: Direct all written comments to Garrick R. Shear, Internal

Revenue Service, room 5571, 1111 Constitution Avenue NW., Washington,

DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or

copies of the form(s) and instructions should be directed to Martha R.

Brinson, (202) 622-3869, Internal Revenue Service, room 5571, 1111

Constitution Avenue NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: Election To Use Different Annualization Periods for

Corporate Estimated Tax.

OMB Number: 1545-1409.

Form Number: Form 8842.

Abstract: Form 8842 is a form used by corporations, tax- exempt

organizations subject to the unrelated business income tax, and private

foundations to annually elect the use of an annualization period under

Internal Revenue Code section 6655(e)(2)(C) (i) or (ii) for purposes of

figuring the corporation's estimated tax payments under the annualized

income installment method.

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: 2,000.

Estimated Time per Respondent: 2hr. 21 min.

Estimated Total Annual Burden Hours: 4,700.

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; and (d) ways to minimize the burden of the collection of

information on respondents, including through the use

[[Page 20555]]

of automated collection techniques or other forms of information

technology.

Approved: April 30, 1996.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 96-11378 Filed 5-6-96; 8:45 am]

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