[Federal Register: January 20, 2004 (Volume 69, Number 12)]
[Notices]
[Page 2811]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr20ja04-83]
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DEPARTMENT OF THE TREASURY
Submission for OMB Review; Comment Request
January 12, 2004.
The Department of Treasury has submitted the following public
information collection requirement(s) to OMB for review and clearance
under the Paperwork Reduction Act of 1995, Pub. L. 104-13. Copies of
the submission(s) may be obtained by calling the Treasury Bureau
Clearance Officer listed. Comments regarding this information
collection should be addressed to the OMB reviewer listed and to the
Treasury Department Clearance Officer, Department of the Treasury, Room
11000, 1750 Pennsylvania Avenue, NW., Washington, DC 20220.
DATES: Written comments should be received on or before February 19,
2004 to be assured of consideration.
Internal Revenue Service (IRS)
OMB Number: 1545-0889.
Form Numbers: IRS Forms 8275 and 8275-R.
Type of Review: Extension.
Title: Form 8275: Disclosure Statement; and Form 8275-R: Regulation
Disclosure Statement.
Description: Internal Revenue Code (IRC) section 6662 imposes
accuracy related penalties for substantial understatement of tax
liability or negligence or disregard of rules and regulations. Section
6694 imposes similar penalties on return preparers. Regulations
sections 1.6662-4(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 a regulation on Form 8275-R.
Respondents: Individuals or households, business or other for-
profit, not-for-profit institutions, farms.
Estimated Number of Respondents/Recordkeepers: 595,000.
Estimated Burden Hours Respondent/Recordkeepers:
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Recordkeeping............................ 3 hr., 35 min.
Learning about the law or the form....... 53 min.
Preparing and sending the form to the IRS 59 min.
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Frequency of Response: Annually.
Estimated Total Reporting/Recordkeeping Burden: 5,575,000 hours.
Clearance Officer: Robert M. Coar, (202) 622-3579, Internal Revenue
Service, Room 6411, 1111 Constitution Avenue, NW., Washington, DC
20224.
OMB Reviewer: Joseph F. Lackey, Jr., (202) 395-7316, Office of
Management and Budget, Room 10235, New Executive Office Building,
Washington, DC 20503.
Lois K. Holland,
Treasury PRA Clearance Officer.
[FR Doc. 04-1134 Filed 1-16-04; 8:45 am]
BILLING CODE 4830-01-P