[Federal Register Volume 59, Number 102 (Friday, May 27, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-12830]


[[Page Unknown]]

[Federal Register: May 27, 1994]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Parts 1 and 602

[IA-74-93]
RIN 1545-AS27

 

Substantiation Requirement for Certain Contributions

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice of proposed rulemaking by cross-reference to temporary 
regulations.

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SUMMARY: In the Rules and Regulations section of this issue of the 
Federal Register, the Internal Revenue Service is issuing temporary 
regulations relating to the substantiation requirement for certain 
charitable contributions under section 170(f)(8) of the Internal 
Revenue Code. The guidance contained in those temporary regulations 
affects donors of charitable contributions of $250 or more. The text of 
the temporary regulations also serves as the comment document for this 
notice of proposed rulemaking. Comments will be considered not only on 
the temporary rules promulgated, but also on other issues arising under 
section 170(f)(8). These issues include, but are not limited to, (a) 
what constitutes a good faith estimate of the value of goods and 
services, (b) what is an intangible religious benefit, and (c) what is 
a contemporaneous acknowledgment.

DATES: Comments and requests for a public hearing must be delivered or 
mailed by July 26, 1994.

ADDRESSES: Send comments and requests for a public hearing to: Internal 
Revenue Service, P.O. Box 7604, Ben Franklin Station, Attn: 
CC:DOM:CORP:T:R (IA-74-93), room 5228, Washington, DC 20044.

FOR FURTHER INFORMATION CONTACT: Joel S. Rutstein, 202-622-4930 (not a 
toll-free call).

SUPPLEMENTARY INFORMATION:

Paperwork Reduction Act

    The collection of information contained in these regulations has 
been submitted to the Office of Management and Budget for review in 
accordance with the Paperwork Reduction Act of 1980 (44 U.S.C. 
3504(h)). Comments on the collection of information should be sent to 
the Office of Management and Budget, Paperwork Reduction Project, 
Washington, DC 20503, with copies to the Internal Revenue Service, 
Attn: IRS Reports Clearance Officer PC:FP, Washington, DC 20224.
    The collection of information in this notice of proposed rulemaking 
is in Sec. 1.170A-13T. This information is required by the Internal 
Revenue Service to substantiate certain charitable contributions. The 
likely recordkeepers are individuals, business or other for-profit 
institutions, and small businesses.
    Estimated total annual recordkeeping burden: 51,500 hours. The 
estimated annual burden per recordkeeper varies from 15 minutes to 30 
minutes, depending on individual circumstances, with an estimated 
average of 30 minutes. Estimated number of recordkeepers: 16,000.

Background

    For the text of the temporary regulations adding Sec. 1.170A-13T to 
26 CFR part 1, see TD 8544, published in the Rules and Regulations 
section of this issue of the Federal Register. The preamble to the 
temporary regulations explains the regulations.

Special Analyses

    It has been determined that this notice of proposed rulemaking is 
not a significant regulatory action as defined in Executive Order 
12866. It has also been determined that section 553(b) of the 
Administrative Procedure Act (5 U.S.C. chapter 5) and the Regulatory 
Flexibility Act (5 U.S.C. chapter 6) do not apply to these regulations, 
and, therefore, an initial Regulatory Flexibility Analysis is not 
required. Pursuant to section 7805(f) of the Internal Revenue Code, 
these proposed regulations will be submitted to the Chief Counsel for 
Advocacy of the Small Business Administration for comment on their 
impact on small business.

Comments and Request for a Public Hearing

    Before these proposed regulations are adopted as final regulations, 
consideration will be given to any written comments that are timely 
submitted (preferably a signed original and eight copies) to the 
Internal Revenue Service. All comments will be available for public 
inspection and copying in their entirety. A public hearing will be 
scheduled and held upon written request by any person who timely 
submits written comments on the proposed rules. Notice of the date, 
time, and place for the hearing will be published in the Federal 
Register.

Drafting Information

    The principal author of these proposed regulations is Joel S. 
Rutstein, Office of the Assistant Chief Counsel (Income Tax & 
Accounting), Internal Revenue Service. However, other personnel from 
the Service and Treasury Department participated in their development.

List of Subjects in 26 CFR part 1

    Income taxes, Reporting and recordkeeping requirements.

Proposed Amendments to the Regulations

    Accordingly, 26 CFR part 1 is proposed to be amended as follows:

PART 1--INCOME TAXES

    Paragraph 1. The authority citation for part 1 is amended by adding 
an entry in numerical order to read as follows:

    Authority: 26 U.S.C. 7805 * * * Sec. 1.170A-13A also issued 
under 26 U.S.C. 170(f)(8)(E).

    Par. 2. Section 1.170A-13A is added to read as follows:


Sec. 1.170A-13A  Substantiation requirement for certain contributions.

    [The text of this proposed section is the same as the text of 
Sec. 1.170A-13T published elsewhere in this issue of the Federal 
Register].
Margaret Milner Richardson,
Commissioner of Internal Revenue.
[FR Doc. 94-12830 Filed 5-26-94; 8:45 am]
BILLING CODE 4830-01-U