[Federal Register Volume 71, Number 129 (Thursday, July 6, 2006)]
[Proposed Rules]
[Pages 38323-38324]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-9555]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 301

[REG-148864-03]
RIN 1545-BC93


Disclosure of Return Information to the Bureau of Economic 
Analysis

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 regarding 
additional items of return information disclosable to the Bureau of 
Economic Analysis (Bureau) of the Department of Commerce for purposes 
related to measuring economic change in the U.S. national economic 
accounts. These temporary regulations provide guidance to IRS personnel 
responsible for disclosing the information. The text of these temporary 
regulations published in the Rules and Regulations section of this 
issue of the Federal Register serves as the text of the proposed 
regulations.

DATES: Written and electronic comments and requests for a public 
hearing must be received by October 4, 2006.

ADDRESSES: Send submissions to: CC:PA:LPD:PR (REG-148864-03), room 
5203, Internal Revenue Service, P.O. Box 7604, Ben Franklin Station, 
Washington, DC 20044. Submissions may be hand-delivered between the 
hours of 8 a.m. and 4 p.m. to CC:PA:LPD:PR (REG-148864-03), Courier's 
Desk, Internal Revenue Service, 1111 Constitution Avenue, NW., 
Washington, DC, or sent electronically, via the IRS Internet site at 
www.irs.gov/regs, or via the Federal eRulemaking Portal at 
www.regulations.gov (IRS and REG-148864-03).

FOR FURTHER INFORMATION CONTACT: Concerning submission of comments, 
Richard A. Hurst at [email protected] or (202) 622-
7180; concerning the temporary regulations, Joel D. McMahan at (202) 
622-4580 (not toll-free numbers).

SUPPLEMENTARY INFORMATION:

Background

    Under section 6103(j)(1), upon written request from the Secretary 
of Commerce, the Secretary of the Treasury must furnish to the Bureau 
return information that is prescribed by Treasury regulations for 
purposes related to measuring economic change in the U.S. national 
economic accounts. Section 301.6103(j)(1)-1(c) of the regulations 
provides an itemized description of the return information authorized 
to be disclosed for this purpose. Periodically, the disclosure 
regulations are amended to reflect the changing needs of the Bureau for 
data for its statutorily authorized statistical activities.
    This document contains proposed regulations authorizing IRS 
personnel to disclose additional items of return information that have 
been requested by the Secretary of Commerce.
    Temporary regulations in the Rules and Regulations section of this 
issue of the Federal Register amend the Procedure and Administration 
Regulations (26 CFR Part 301) relating to Internal Revenue Code (Code) 
section 6103(j). The temporary regulations contain rules relating to 
the disclosure of return information reflected on returns to officers 
and employees of the Department of Commerce for structuring censuses 
and national economic accounts and conducting related statistical 
activities authorized by law.
    The text of the temporary regulations also serves as the text of 
these proposed regulations. The preamble to the temporary regulations 
explains the proposed regulations.

[[Page 38324]]

Special Analyses

    It has been determined that this notice of proposed rulemaking is 
not a significant regulatory action as defined in Executive Order 
12866. Therefore, a regulatory assessment is not required. It also has 
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 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 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 eight (8) copies) that are submitted timely to the 
IRS. The IRS and Treasury Department specifically request comments on 
the clarity of the proposed regulations 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 a 
person who timely submits 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 Joel D. McMahan, 
Office of the Associate Chief Counsel (Procedure & Administration), 
Disclosure and Privacy Law Division.

List of Subjects in 26 CFR Part 301

    Employment taxes, Estate taxes, Excise taxes, Gift taxes, Income 
taxes, Penalties, Reporting and recordkeeping requirements.

Proposed Amendments to the Regulations

    Accordingly, 26 CFR part 301 is proposed to be amended as follows:

PART 301--PROCEDURE AND ADMINISTRATION

    Paragraph 1. The authority citation for part 301 is amended in 
part, by adding an entry in numerical order to read as follows:

    Authority: 26 U.S.C. 7805 * * *
    Section 301.6103(j)(1)-1 also issued under 26 U.S.C. 6103(j)(1); 
* * *

    Par. 2. In Sec.  301.6103(j)(1)-1 paragraphs (c) and (f) are 
revised to read as follows:


Sec.  301.6103(j)(1)-1  Disclosure of return information to officers 
and employees of the Department of Commerce for certain statistical 
purposes and related activities.

* * * * *
    (c) [The text of this proposed paragraph is the same as the text of 
Sec.  301.6103(j)(1)-1T(c) published elsewhere in this issue of the 
Federal Register].
* * * * *
    (f) [The text of this proposed paragraph is the same as the text of 
Sec.  301.6103(j)(1)-1T(f) published elsewhere in this issue of the 
Federal Register].

Mark E. Matthews,
Deputy Commissioner for Services and Enforcement.
[FR Doc. E6-9555 Filed 7-5-06; 8:45 am]
BILLING CODE 4830-01-P