Daily Rules, Proposed Rules, and Notices of the Federal Government


Internal Revenue Service

Proposed Collection; Comment Request for Form 6765

AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
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 6765, Credit for Increasing Research Activities.
DATES: Written comments should be received on or before August 23, 2011 to be assured of consideration.
ADDRESSES: Direct all written comments to R. Joseph Durbala, Internal Revenue Service, Room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the form and instructions should be directed to Evelyn J. Mack at Internal Revenue Service, Room 6231, 1111 Constitution Avenue, NW., Washington, DC 20224, or at (202) 622-7381, or through the Internet

Title:Credit for Increasing Research Activities.

OMB Number:1545-0619.

Form Number:6765.

Abstract:IRC section 38 allows a credit against income tax (Determined under IRC section 41) for an increase in research activities in a trade or business. Form 6765 is used by businesses and individuals engaged in a trade or business to figure and report the credit. The data is used to verify that the credit claimed is correct.

Current Actions:Section 301(b) Public Law 110-343, Div. C, added new IRC sec. 41(h)(2), which eliminates the election of the alternative incremental credit (AIC) for taxable years beginning after December 31, 2008. Text has been revised to reflect the increased percentage for tax years ending after December 31, 2008. Changes, made to comply with the new IRC sec. 41(h)(2), will result in a total estimated burden decrease of 52,946 hours.

Type of Review:Revision of a currently approved collection.

Affected Public:Business or other for-profit organizations and individuals.

Estimated Number of Respondents:15,805.

Estimated Time per Respondent:18 hours, 2 minutes.

Estimated Total Annual Burden Hours:285,281.

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 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; (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.

Approved: June 20, 2011. R. Joseph Durbala, IRS Reports Clearance Officer.