Proposed Information Collection; Comment Request, 23045 [2021-09092]

Agencies

• Internal Revenue Service
• DEPARTMENT OF THE TREASURY

[Federal Register Volume 86, Number 82 (Friday, April 30, 2021)]
[Notices]
[Page 23045]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-09092]



[[Page 23045]]

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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Information Collection; Comment Request

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Internal Revenue Service, 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 
continuing information collections, as required by the Paperwork 
Reduction Act of 1995.

DATES: Written comments should be received on or before June 29, 2021 
to be assured of consideration.

ADDRESSES: Direct all written comments to Kinna Brewington, Internal 
Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 
20224. Please send comments for the information collection listed 
below. You must reference the information collection's title, form 
number, reporting or record-keeping requirement number, and OMB number 
in your comment.

FOR FURTHER INFORMATION CONTACT: Requests for additional information, 
or copies of the information collection and instructions, or copies of 
any comments received, contact LaNita Van Dyke, at (202) 317-6009, or 
at Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, 
Washington, DC 20224, or through the internet, at 
[email protected].

SUPPLEMENTARY INFORMATION:
    Title: Procedural Rules for Excise Taxes Currently Reportable on 
Form 720.
    OMB Number: 1545-1296.
    Regulation Project Number: PS-27-91 and PS-8-96 (Final (T.D. 
8442)).
    Abstract: Internal Revenue Code section 6302(c) authorizes the use 
of Government depositaries for the receipt of taxes imposed under the 
internal revenue laws. These final regulations provide reporting and 
recordkeeping requirements related to return, payments, and deposits of 
tax for excise taxes currently reportable on Form 720. including 
special rules for use of Government depositaries under chapter 33 of 
the Internal Revenue Code. Existing procedural regulations under 26 CFR 
parts 43, 46, 48, 49, and 52 are amended and consolidated in a new part 
40. These regulations also reflect changes to the law made by the 
Omnibus Budget Reconciliation Acts of 1989 and 1990. The regulations 
affect persons required to report liability for excise taxes currently 
reportable on Form 720.
    Current Actions: There are no changes being made to these existing 
regulations.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 10,500.
    Estimated Time per Respondent: 23 hours, 5 minutes.
    Estimated Total Annual Burden: 242,350.
    The following paragraph applies to the collection 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 our request for Office of 
Management and Budget (OMB) approval of the relevant information 
collection. All comments will become a matter of public record. Please 
do not include any confidential or inappropriate material in your 
comments.
    We invite comments on: (a) Whether the collection of information is 
necessary for the proper performance of the agency's functions, 
including whether the information has 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 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 the 
requested information.
    The IRS is seeking comments concerning the following forms, and 
reporting and record-keeping requirements:

    Approved: April 26, 2021.
Chakinna B. Clemons,
Supervisory Tax Analyst.
[FR Doc. 2021-09092 Filed 4-29-21; 8:45 am]
BILLING CODE 4830-01-P