Notice2022-24356
Proposed Collection; Comment Request for Disclosure Statement and Regulation Disclosure Statement
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
November 8, 2022
Issuing agencies
Treasury DepartmentInternal Revenue Service
Abstract
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. The IRS is soliciting comments concerning disclosure statement and regulation disclosure statement.
Full Text
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<title>Federal Register, Volume 87 Issue 215 (Tuesday, November 8, 2022)</title>
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[Federal Register Volume 87, Number 215 (Tuesday, November 8, 2022)]
[Notices]
[Pages 67534-67535]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-24356]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Disclosure Statement and
Regulation Disclosure Statement
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. The IRS is soliciting comments concerning
disclosure statement and regulation disclosure statement.
DATES: Written comments should be received on or before January 9, 2023
to be assured of consideration.
ADDRESSES: Direct all written comments to Andres Garcia, Internal
Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC
20224, or by email to <a href="/cdn-cgi/l/email-protection#324240531c515d5f5f575c4641725b40411c555d44"><span class="__cf_email__" data-cfemail="136361723d707c7e7e767d6760537a61603d747c65">[email protected]</span></a>. Include OMB control number
1545-0889 or Disclosure Statement (Form 8275) and Regulation Disclosure
Statement (Form 8275-R) in the subject line of the message.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the form should be directed to Kerry Dennis at (202) 317-
5751, or at Internal Revenue Service, Room 6526, 1111 Constitution
Avenue NW, Washington, DC 20224, or through the internet, at
<a href="/cdn-cgi/l/email-protection#612a041313184f2d4f25040f0f0812210813124f060e17"><span class="__cf_email__" data-cfemail="317a544343481f7d1f75545f5f5842715843421f565e47">[email protected]</span></a>.
SUPPLEMENTARY INFORMATION:
Title: Disclosure Statement (Form 8275) and Regulation Disclosure
Statement (Form 8275-R).
OMB Number: 1545-0889.
Form Number: 8275 and 8275-R.
Abstract: Internal Revenue Code section 6662 imposes accuracy-
related penalties on taxpayers for substantial understatement of tax
liability or negligence or disregard of rules and regulations. Code
section 6694 imposes similar penalties on return preparers. Regulations
sections 1.662-4(e) and (f) provide for reduction of these penalties if
adequate disclosure of the tax treatment is made on Form 8275 or, if
the position is contrary to regulation on Form 8275-R.
Current Actions: There is no change to the paperwork burden
previously approved by OMB.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations and
individuals, not-for-profit institutions, and farms.
Estimated Number of Respondents: 666,666.
Estimated Time per Respondent: 5 hours, 34 minutes.
Estimated Total Annual Burden Hours: 3,716,664 hours.
The following paragraph applies to all 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 if 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
[[Page 67535]]
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: November 3, 2022.
Kerry L. Dennis,
Tax Analyst.
[FR Doc. 2022-24356 Filed 11-7-22; 8:45 am]
BILLING CODE 4830-01-P
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