1545-2160_ss_sep2013

SUPPORTING STATEMENT
1. CIRCUMSTANCES NECESSITATING COLLECTION OF INFORMATION
Form 8038-TC will be used by issuers of qualified tax-exempt credit bonds and will use a schedule approach to capture
information required by IRC section 149(e). For applicable types of bond issues, filers will use this form instead of Form
8038, Information Return for Tax-Exempt Private Activity Bond Issues.

2. USE OF DATA
Issuers of qualified tax-exempt credit bonds report information to the IRS that is required under IRC section 149(e).

3. USE OF IMPROVED INFORMATION TECHNOLOGY TO REDUCE BURDEN
IRS Publications, Regulations, Notices and Letters are to be electronically enabled on an as practicable basis in
accordance with the IRS Reform and Restructuring Act of 1998.

4. EFFORTS TO IDENTIFY DUPLICATION
We have attempted to eliminate duplication within the agency wherever possible.

5. METHODS TO MINIMIZE BURDEN ON SMALL BUSINESSES OR OTHER SMALL ENTITIES
We have attempted to minimize the burden on small businesses or other small entities.

6. CONSEQUENCES OF LESS FREQUENT COLLECTION ON FEDERAL PROGRAMS OR
POLICY ACTIVITIES
Not applicable.

Form 14029 (Rev. 4-2009) Catalog Number 51944B Page 4

Department of the Treasury–Internal Revenue Service

7. SPECIAL CIRCUMSTANCES REQUIRING DATA COLLECTION TO BE INCONSISTENT
WITH GUIDELINES IN 5 CFR 1320.5(d)(2)
Not applicable.

8. CONSULTATION WITH INDIVIDUALS OUTSIDE OF THE AGENCY ON AVAILABILITY
OF DATA, FREQUENCY OF COLLECTION, CLARITY OF INSTRUCTIONS AND FORMS,
AND DATA ELEMENTS
Periodic meetings are held between numerous offices in the Service and Treasury to discuss tax law and tax forms.
During these meetings there is an opportunity for those attending to make comments regarding Form 8038-TC.
In the past, we published a Federal Register notice (75 FR 5855), dated February 4, 2010, and we received no
comments during the comment period regarding Form 8038-TC.
In response to the Federal Register Notice dated July 8, 2013 (78 FR 40824), we received no comments during the
comment period regarding Form 8038-TC.

9. EXPLANATION OF DECISION TO PROVIDE ANY PAYMENT OR GIFT TO RESPONDENTS
Not applicable.

10. ASSURANCE OF CONFIDENTIALITY OF RESPONSES
Generally, tax returns and tax return information are confidential as required by 26 USC 6103.

11. JUSTIFICATION OF SENSITIVE QUESTIONS
Not applicable.

12. ESTIMATED BURDEN OF INFORMATION COLLECTION
The burden estimate is as follows:
Form

Number of Responses

Time Per Response

Total Hours

Form 8038-TC

540

37 hrs., 35 mins.

20,294

Form 14029 (Rev. 4-2009) Catalog Number 51944B

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Department of the Treasury–Internal Revenue Service

13. ESTIMATED TOTAL ANNUAL COST BURDEN TO RESPONDENTS
As suggested by OMB, our Federal Register Notice dated July 8, 2013, (78 FR 40824), requested public comments on
estimates of cost burden that are not captured in the estimates of burden hours, i.e., estimates of capital or start-up
costs and costs of operation, maintenance, and purchase of services to provide information. However, we did not
receive any responses from taxpayers on this subject. As a result, estimates of the cost burdens are not available at
this time.

14. ESTIMATED ANNUALIZED COST TO THE FEDERAL GOVERNMENT
Printing costs approximately $500.

15. REASONS FOR CHANGE IN BURDEN
There are no changes to the burden previously approved by OMB. This submission is for renewal purposes only.

16. PLANS FOR TABULATION, STATISTICAL ANALYSIS AND PUBLICATION
The IRS may, through a website or in a publication release the issuer; name and address, name and description of
bond issue, date of issuance, CUSIP number, final maturity date, stated redemption price at maturity, applicable credit
rate, and maximum term, to assist in the proper reporting of interest, tax credits, or other benefits under IRC section
6049 and regulations thereunder.

17. REASONS WHY DISPLAYING THE OMB EXPIRATION DATE IS INAPPROPRIATE
We believe that displaying the OMB expiration date is inappropriate because it could cause confusion by leading
taxpayers to believe that the revenue procedure sunsets as of the expiration date. Taxpayers are not likely to be
aware that the Service intends to request renewal of the OMB approval and obtain a new expiration date before the old
one expires.

18. EXCEPTIONS TO THE CERTIFICATION STATEMENT ON OMB PRA SUBMISSION FORM
Note: The following paragraph applies to all of the collections of information in this submission: 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.

19. REASON FOR EMERGENCY SUBMISSION
Not applicable.

Form 14029 (Rev. 4-2009) Catalog Number 51944B

Page 6

Department of the Treasury–Internal Revenue Service