[Federal Register Volume 70, Number 55 (Wednesday, March 23, 2005)]
[Notices]
[Pages 14753-14754]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E5-1286]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 720X

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Department of the Treasury, 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 proposed and/or continuing information

[[Page 14754]]

collections, as required by the Paperwork Reduction Act of 1995, Public 
Law 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting 
comments concerning Form 720X, Amended Quarterly Federal Excise Tax 
Return.

DATES: Written comments should be received on or before May 23, 2005 to 
be assured of consideration.

ADDRESSES: Direct all written comments to Glenn Kirkland Internal 
Revenue Service, room 6512, 1111 Constitution Avenue, NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the form and instructions should be directed to Larnice Mack 
at Internal Revenue Service, room 6512, 1111 Constitution Avenue, NW., 
Washington, DC 20224, or at (202) 622-3179, or through the Internet at 
([email protected]).

SUPPLEMENTARY INFORMATION:
    Title: Amended Quarterly Federal Excise Tax Return.
    OMB Number: 1545-1759.
    Form Number: 720X.
    Abstract: Form 720X is used to make adjustments to correct errors 
on form 720 filed for previous quarters. It can be filed by itself or 
it can be attached to any subsequent Form 720. Code section 6416(d) 
allows taxpayers to take a credit on a subsequent return rather than 
filing a refund claim. The creation of Form 720X is the result of a 
project to provide a uniform standard for trust fund accounting.
    Current Actions: There are no changes being made to Form 720X at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses or other for-profit organizations.
    Estimated Number of Responses: 22,000.
    Estimated Time Per Response: 4 hrs, 59 minutes.
    Estimated Total Annual Burden Hours: 109,560.
    The following paragraph applies to all of 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 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 the request for OMB approval. All 
comments will become a matter of public record.
    Comments are invited on: (a) Whether the collection of information 
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: March 15, 2005.
Glenn Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E5-1286 Filed 3-22-05; 8:45 am]
BILLING CODE 4830-01-P