[Federal Register Volume 70, Number 213 (Friday, November 4, 2005)]
[Notices]
[Pages 67215-67216]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E5-6109]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Rev. Proc 2005-51

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 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 
Rev. Proc 2005-51, Revenue Procedures regarding I.R.C. 6707A(e) and 
Disclosure with the SEC.

DATES: Written comments should be received on or before January 3, 2006 
to be assured of consideration.

ADDRESSES: Direct all written comments to Glenn P. 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 form and instructions should be directed to R. Joseph 
Durbala, (202) 622-3634, at Internal Revenue Service, room 6516, 1111 
Constitution Avenue NW., Washington, DC 20224, or through the Internet 
at [email protected].

SUPPLEMENTARY INFORMATION: Title: Revenue Procedures regarding I.R.C. 
6707A(e) and Disclosure with the SEC.
    OMB Number: 1545-1956.
    Form Number: Rev. Proc. 2005-51.
    Abstract: This revenue procedure provides guidance to persons who 
are required to disclose payment of certain penalties arising from 
participation in reportable transactions on forms filed with the 
Securities and Exchange Commission.
    Current Actions: There is no change in the paperwork burden 
previously

[[Page 67216]]

approved by OMB. This form is being submitted for renewal purposes 
only.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses and other for-profit organizations.
    Estimated Number of Respondents: 859.
    Estimated Time Per Respondent: 50 minutes.
    Estimated Total Annual Burden Hours: 429.50.
    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: October 20, 2005.
Glenn P. Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E5-6109 Filed 11-3-05; 8:45 am]
BILLING CODE 4830-01-P