[Federal Register Volume 70, Number 189 (Friday, September 30, 2005)]
[Notices]
[Pages 57365-57366]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E5-5339]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

[REG-103736-00]


Proposed Collection; Comment Request for Regulation Project

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

[[Page 57366]]

other Federal agencies to take this opportunity to comment on proposed 
and/or continuing information 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 an existing final 
regulation, REG-103736-00, Requirement to Maintain List of Investors in 
Potentially Abusive Tax Shelters.

DATES: Written comments should be received on or before November 29, 
2005 to be assured of consideration.

ADDRESSES: Direct all written comments to Glenn Kirkland, Internal 
Revenue Service, room 6516, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the regulation should be directed to Allan Hopkins, at (202) 
622-6665, or at Internal Revenue Service, room 6516, 1111 Constitution 
Avenue, NW., Washington, DC 20224, or through the Internet at 
[email protected].

SUPPLEMENTARY INFORMATION:
    Title: Requirement to Maintain List of Investors in Potentially 
Abusive Tax Shelters.
    OMB Number: 1545-1686.
    Regulation Project Number: REG-103736-00.
    Abstract: These final regulations modify and clarify the rules 
relating to confidential transactions under Sec.  1.6011-4(b)(3) of the 
Income Tax Regulations. These regulations affect taxpayers 
participating in reportable transactions and persons responsible for 
maintaining and furnishing lists of investors in reportable 
transactions.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations, 
individuals or households.
    Estimated Number of Respondents: 500.
    Estimated Time Per Respondent: 100 hours.
    Estimated Total Annual Burden Hours: 50,000.
    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: September 14, 2005.
Allan Hopkins,
IRS Reports Clearance Officer.
[FR Doc. E5-5339 Filed 9-29-05; 8:45 am]
BILLING CODE 4830-01-P