TD 8712 (Final), Definition of Private Activity Bonds; TD 9741, General Allocation and Accounting Regulations Under Section 141; Remedial Actions for Tax-Exempt Bonds

ICR 201607-1545-020

OMB: 1545-1451

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2016-07-28
ICR Details
1545-1451 201607-1545-020
Historical Active 201303-1545-023
TREAS/IRS
TD 8712 (Final), Definition of Private Activity Bonds; TD 9741, General Allocation and Accounting Regulations Under Section 141; Remedial Actions for Tax-Exempt Bonds
Revision of a currently approved collection   No
Regular
Approved without change 01/13/2017
Retrieve Notice of Action (NOA) 07/29/2016
  Inventory as of this Action Requested Previously Approved
01/31/2020 36 Months From Approved 01/31/2017
20,200 0 10,100
60,350 0 30,100
0 0 0

Section 103 provides generally that interest on certain State or local bonds is excluded from gross income. However, under sections 103(b)(1) and 141, interest on private activity bonds (other than qualified bonds) is not excluded. The regulations provide rules, for purposes of section 141, to determine how bond proceeds are measured and used and how debt service for those bonds is paid or secured. TD 9741 provides state and local governmental issuers of tax-exempt bonds with guidance for applying the private activity bond restrictions.

US Code: 26 USC 141 Name of Law: Private activity bond; qualified bond
   US Code: 26 USC 103 Name of Law: Interest on State and local bonds
  
None

Not associated with rulemaking

  81 FR 29955 05/13/2016
81 FR 49716 07/28/2016
No

  Total Approved Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 20,200 10,100 0 10,100 0 0
Annual Time Burden (Hours) 60,350 30,100 0 30,250 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
Yes
Miscellaneous Actions
No
TD 9741 was added. This adds an additional 30,250 burden hours to this collection.

$0
No
No
No
No
No
Uncollected
Allan Hopkins 202-622-6665 allan.m.hopkins@irs.gov

  No

On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
 
 
 
 
 
 
 
    (i) Why the information is being collected;
    (ii) Use of information;
    (iii) Burden estimate;
    (iv) Nature of response (voluntary, required for a benefit, or mandatory);
    (v) Nature and extent of confidentiality; and
    (vi) Need to display currently valid OMB control number;
 
 
 
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
07/29/2016


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