Proposed Collection; Comment Request for Regulation Project, 53831-53832 [E5-4951]

Download as PDF Federal Register / Vol. 70, No. 175 / Monday, September 12, 2005 / Notices information and financial ability to enter into an installment agreement for payment of taxes. The form is used by IRS to establish a payment plan for taxes owed to the federal government, if appropriate, and to inform taxpayers about the application fee and their financial responsibilities. Respondents: Individuals or households. Estimated Total Burden Hours: 805,600 hours. Clearance Officer: Glenn P. Kirkland, (202) 622–3428, Internal Revenue Service, Room 6516, 1111 Constitution Avenue, NW., Washington, DC 20224. OMB Reviewer: Alexander T. Hunt, (202) 395–7316, Office of Management and Budget, Room 10235, New Executive Office Building, Washington, DC 20503. Michael A. Robinson, Treasury PRA Clearance Officer. [FR Doc. 05–17962 Filed 9–9–05; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Public Meeting of the President’s Advisory Panel on Federal Tax Reform Department of the Treasury. Change in meeting date. AGENCY: ACTION: Dated: September 8, 2005. Mark S. Kaizen, Designated Federal Officer. [FR Doc. 05–18143 Filed 9–9–05; 8:45 am] BILLING CODE 4811–33–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 5305–SEP Internal Revenue Service (IRS), Treasury. VerDate Aug<18>2005 15:25 Sep 09, 2005 Jkt 205001 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 5305–SEP, Simplified Employee Pension-Individual Retirement Accounts Contribution Agreement. DATES: Written comments should be received on or before November 14, 2005 to be assured of consideration. ADDRESSES: Direct all written comments to Glenn P. Kirkland, Internal Revenue Service, Room 6516, 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 R. Joseph Durbala, (202) 622–3634, Internal Revenue Service, Room 6516, 1111 Constitution Avenue NW., Washington, DC 20224, or through the Internet at RJoseph.Durbala@irs.gov. SUPPLEMENTARY INFORMATION: SUMMARY: This notice advises all interested persons of change in the date of a public meeting of the President’s Advisory Panel on Federal Tax Reform. DATES: The meeting scheduled to be held on Thursday, September 15, 2005, has been postponed. This meeting will be rescheduled and announced at a later date. FOR FURTHER INFORMATION CONTACT: The Panel staff at (202) 927–2TAX (927– 2829) (not a toll-free call) or e-mail info@taxreformpanel.gov (please do not send comments to this box). Additional information is available at https:// www.taxreformpanel.gov. AGENCY: Notice and request for comments. ACTION: Title: Simplified Employee PensionIndividual Retirement Accounts Contribution Agreement. OMB Number: 1545–0499. Form Number: 5305–SEP. Abstract: Form 5305 -SEP is used by an employer to make an agreement provide benefits to all employees under a Simplified Employee Pension (SEP) described in Internal Revenue Code section 408(k). This form is not to be filed with the IRS but is to be retained in the employer’s records as proof of establishing a SEP and justifying a deduction for contributions to the SEP. Current Actions: There are no changes being made to form at this time. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations. Estimated Number of Respondents: 100,000. Estimated Time Per Respondent: 4 hr. 57 min. Estimated Total Annual Burden Hours: 495,000. 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 PO 00000 Frm 00059 Fmt 4703 Sfmt 4703 53831 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: September 2, 2005. Glenn Kirkland, IRS Reports Clearance Officer. [FR Doc. E5–4950 Filed 9–9–05; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service [IA–38–90] Proposed Collection; Comment Request for Regulation Project Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. AGENCY: 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 an existing final regulation, IA–38–90 (TD 8382), Penalty on Income Tax Return E:\FR\FM\12SEN1.SGM 12SEN1 53832 Federal Register / Vol. 70, No. 175 / Monday, September 12, 2005 / Notices Preparers Who Understate Taxpayer’s Liability on a Federal Income Tax Return or a Claim for Refund (§§ 1.6694–2(c) and 1.6694–3(e)). DATES: Written comments should be received on or before November 14, 2005 to be assured of consideration. ADDRESSES: Direct all written comments to Glenn P. Kirkland, Internal Revenue Service, Room 6516, 1111 Constitution Avenue, NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of this regulation should be directed to R. Joseph Durbala, (202) 622–3634, Internal Revenue Service, room 6407, 1111 Constitution Avenue, NW., Washington, DC 20224, or through the Internet at RJoseph.Durbala@irs.gov. SUPPLEMENTARY INFORMATION: Title: Penalty on Income Tax Return Preparers Who Understate Taxpayer’s Liability on a Federal Income Tax Return or Claim for Refund. OMB Number: 1545–1231. Regulation Project Number: IA–38–90 (Final). Abstract: These regulations set forth rules under section 6694 of the Internal Revenue Code regarding the penalty for understatement of a taxpayer’s liability on a Federal income tax return or claim for refund. In certain circumstances, the preparer may avoid the penalty by disclosing on a Form 8275 or by advising the taxpayer or another preparer that disclosure is necessary. Current Actions: There is no change to this existing regulation. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations, and individuals or households. Estimated Number of Respondents: 100,000. Estimated Time Per Respondent: 30 min. Estimated Total Annual Burden Hours: 50,000 hours. 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 VerDate Aug<18>2005 15:25 Sep 09, 2005 Jkt 205001 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: September 2, 2005. Glenn Kirkland, IRS Reports Clearance Officer. [FR Doc. E5–4951 Filed 9–9–05; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Notice 99–43 Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. AGENCY: 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 Notice 99–43, Nonrecognition Exchanges under Section 897. DATES: Written comments should be received on or before November 14, 2005 to be assured of consideration. ADDRESSES: Direct all written comments to Glenn P. Kirkland, Internal Revenue Service, room 6516, 1111 Constitution Avenue, NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of this regulation should be directed to R. Joseph Durbala, (202) 622–3634, Internal Revenue Service, room 6516, 1111 Constitution Avenue PO 00000 Frm 00060 Fmt 4703 Sfmt 4703 NW., Washington, DC 20224, or through the Internet at RJoseph.Durbala@irs.gov. SUPPLEMENTARY INFORMATION: Title: Nonrecognition Exchanges under Section 897. OMB Number: 1545–1660. Notice Number: Notice 99–43. Abstract: Notice 99–43 announces modification of the current rules under Temporary Regulation section 1.897– 6T(a)(1) regarding transfers, exchanges and other dispositions of U.S. real property interests in nonrecognition transactions occurring after June 18, 1980. The notice provides that, contrary to section 1.897–6T(a)(1), a foreign taxpayer will not recognize a gain under Code 897(e) for an exchange described in Code section 368(a)(1)(E) or (F), provided the taxpayer receives substantially identical shares of the same domestic corporation with the same divided rights, voting power, liquidation preferences, and convertability as the shares exchanged without any additional rights or features. Current Actions: There are no changes being made to the notice at this time. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations, and individuals or households. Estimated Number of Respondents: 100. Estimated Time Per Respondent: 2 hours. Estimated Total Annual Burden Hours: 200. 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. E:\FR\FM\12SEN1.SGM 12SEN1

Agencies

[Federal Register Volume 70, Number 175 (Monday, September 12, 2005)]
[Notices]
[Pages 53831-53832]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-4951]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

[IA-38-90]


Proposed Collection; Comment Request for Regulation Project

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 an 
existing final regulation, IA-38-90 (TD 8382), Penalty on Income Tax 
Return

[[Page 53832]]

Preparers Who Understate Taxpayer's Liability on a Federal Income Tax 
Return or a Claim for Refund (Sec. Sec.  1.6694-2(c) and 1.6694-3(e)).

DATES: Written comments should be received on or before November 14, 
2005 to be assured of consideration.

ADDRESSES: Direct all written comments to Glenn P. Kirkland, Internal 
Revenue Service, Room 6516, 1111 Constitution Avenue, NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of this regulation should be directed to R. Joseph Durbala, 
(202) 622-3634, Internal Revenue Service, room 6407, 1111 Constitution 
Avenue, NW., Washington, DC 20224, or through the Internet at 
RJoseph.Durbala@irs.gov.

SUPPLEMENTARY INFORMATION:
    Title: Penalty on Income Tax Return Preparers Who Understate 
Taxpayer's Liability on a Federal Income Tax Return or Claim for 
Refund.
    OMB Number: 1545-1231.
    Regulation Project Number: IA-38-90 (Final).
    Abstract: These regulations set forth rules under section 6694 of 
the Internal Revenue Code regarding the penalty for understatement of a 
taxpayer's liability on a Federal income tax return or claim for 
refund. In certain circumstances, the preparer may avoid the penalty by 
disclosing on a Form 8275 or by advising the taxpayer or another 
preparer that disclosure is necessary.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations, and 
individuals or households.
    Estimated Number of Respondents: 100,000.
    Estimated Time Per Respondent: 30 min.
    Estimated Total Annual Burden Hours: 50,000 hours.
    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: September 2, 2005.
Glenn Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E5-4951 Filed 9-9-05; 8:45 am]
BILLING CODE 4830-01-P
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