Submission to OMB for Review; Comment Request

DEPARTMENT OF THE TREASURY

Submission to OMB for Review; Comment Request

September 11, 1998.

The Department of Treasury has submitted the following public

information collection requirement(s) to OMB for review and clearance

under the Paperwork Reduction Act of 1995, Pub. L. 104-13. Copies of

the submission(s) may be obtained by calling the Treasury Bureau

Clearance Officer listed. Comments regarding this information

collection should be addressed to the OMB reviewer listed and to the

Treasury Department Clearance Officer, Department of the Treasury, Room

2110, 1425 New York Avenue, NW., Washington, DC 20220.

DATES: Written comments should be received on or before November 16,

1998, to be assured of consideration.

Internal Revenue Service (IRS)

OMB Number: New.

Form Number: IRS Form 8862.

Type of Review: New collection.

Title: Information to Claim Earned Income Credit After

Disallowance.

Description: Section 32 of the Internal Revenue Code allows

taxpayers an earned income credit (EIC) for each of their qualifying

children. Section 32(k), as enacted by section 1085(a)(1) of Pub. L.

105-34, disallows the EIC for a statutory period if a taxpayer

improperly claimed it in a prior year. Form 8862 helps taxpayers

reestablish their eligibility to claim the EIC.

Respondents: Individuals or households.

Estimated Number of Respondents/Recordkeepers: 1,000,000.

Estimated Burden Hours Per Respondent/Recordkeeper:

Recordkeeping--52 min.

Learning about the law or the form--7 min.

Preparing the form--59 min.

Copying, assembling, and sending the form to the IRS--28 min.

Frequency of Response: Annually.

Estimated Total Reporting/Recordkeeping Burden: 2,430,000 hours.

Clearance Officer: Garrick Shear (202) 622-3869, Internal Revenue

Service, Room 5571, 1111 Constitution Avenue, NW, Washington, DC 20224.

OMB Reviewer: Alexander T. Hunt (202) 395-7860, Office of

Management and Budget, Room 10226, New Executive Office Building,

Washington, DC 20503.

Lois K. Holland,

Departmental Reports Management Officer.

[FR Doc. 98-27757 Filed 10-15-98; 8:45 am]

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