[Federal Register Volume 63, Number 251 (Thursday, December 31, 1998)]
[Proposed Rules]
[Pages 72218-72219]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-34361]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[REG-106386-98]
RIN 1545-AW52
Retention of Income Tax Return Preparers' Signatures
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 IRS is issuing temporary regulations relating to
the retention of income tax return preparers' signatures. The text of
those temporary regulations also serves as the text of these proposed
regulations.
DATES: Written and electronic comments and requests for a public
hearing must be received by March 31, 1999.
ADDRESSES: Send submissions to: CC:DOM:CORP:R (REG-106386-98), room
5226, Internal Revenue Service, POB 7604, Ben Franklin Station,
Washington, DC 20044. Submissions may be hand delivered Monday through
Friday between the hours of 8 a.m. and 5 p.m. to CC:DOM:CORP:R (REG-
106386-98), Courier's Desk, Internal Revenue Service, 1111 Constitution
Avenue, NW., Washington, DC. Alternatively, taxpayers may submit
comments electronically via the Internet by selecting the ``Tax Regs''
option on the IRS Home Page, or by submitting comments directly to the
IRS Internet site at http://www.irs.ustreas.gov/prod/tax__regs/
comments.html.
FOR FURTHER INFORMATION CONTACT: Concerning the regulations, Marc C.
Porter, (202) 622-4940; concerning submissions, LaNita Van Dyke, (202)
622-7190 (not toll-free numbers).
SUPPLEMENTARY INFORMATION:
Background
Temporary regulations in the Rules and Regulations section of this
issue of the Federal Register amend Income Tax Regulations (26 CFR part
1) under section 6695(b) of the Internal Revenue Code. These
regulations require an income tax return preparer to keep a manually
signed (by the preparer) copy of a return or claim for refund if the
preparer presented to the taxpayer for signature a return or claim with
a copy of the preparer's manual signature.
The text of those temporary regulations also serves as the text of
these proposed regulations. The preamble to the temporary regulations
explains the temporary regulations.
Special Analyses
It has been determined that this notice of proposed rulemaking is
not a significant regulatory action as defined in EO 12866. Therefore,
a regulatory assessment is not required. It has also been determined
that section 553(b) of the Administrative Procedure Act (5 U.S.C.
chapter 5) does not apply to these regulations, and because the
regulations do not impose a collection of information on small
entities, the Regulatory Flexibility Act (5 U.S.C. chapter 6) does not
apply. Pursuant to section 7805(f) of the Internal Revenue Code, this
notice of proposed rulemaking will be submitted to the Chief Counsel
for Advocacy of the Small Business Administration for comment on its
impact on small business.
Proposed Effective Date
The proposed regulations are proposed to be effective for returns
or claims for refund presented to a taxpayer for signature after
December 31, 1998 and for returns or claims retained on or before that
date.
Comments and Requests for a Public Hearing
Before these proposed regulations are adopted as final regulations,
consideration will be given to any electronic and written comments (a
signed original and 8 copies) that are submitted timely to the IRS. The
IRS and Treasury Department specifically request comments on the
clarity of the proposed regulation and how they can be made easier to
understand. All comments will be available for public inspection and
copying. A public hearing may be scheduled if requested in writing by
any person that timely submits written comments. If a public hearing is
scheduled, notice of the date, time, and place for the hearing will be
published in the Federal Register.
Drafting Information: The principal author of these regulations is
Marc C. Porter, Office of Assistant Chief Counsel (Income Tax &
Accounting). However, other personnel from the IRS and Treasury
Department participated in its 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:
[[Page 72219]]
PART 1--INCOME TAXES
Paragraph 1. The authority citation for part 1 continues to read in
part as follows:
Authority: 26 U.S.C. 7805 * * *
Par. 2. Section 1.6695-1 is amended by:
1. Revising paragraph (b)(4)(i).
2. Adding paragraph (g).
The revision and addition read as follows:
Sec. 1.6695-1 Other assessable penalties with respect to the
preparation of income tax returns for other persons.
* * * * *
(b) * * *
(4)(i) [The text of proposed paragraph (b)(4)(i) is the same as the
text of Sec. 1.6695-1T(b)(4)(i) published elsewhere in this issue of
the Federal Register].
* * * * *
(g) [The text proposed paragraph (g) is the same as the text of
Sec. 1.6695-1T(g) published elsewhere in this issue of the Federal
Register].
Robert E. Wenzel,
Deputy Commissioner of Internal Revenue.
[FR Doc. 98-34361 Filed 12-30-98; 8:45 am]
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