[Federal Register Volume 76, Number 62 (Thursday, March 31, 2011)]
[Notices]
[Pages 17989-17990]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-7529]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 8950

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 
Form 8951, Application for Voluntary Correction Program (VCP).

DATES: Written comments should be received on or before May 31, 2011 to 
be assured of consideration.

ADDRESSES: Direct all written comments to Yvette Lawrence, Internal 
Revenue

[[Page 17990]]

Service, room 6129, 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 Allan 
Hopkins, (202) 622-6665, at Internal Revenue Service, room 6129, 1111 
Constitution Avenue, NW., Washington, DC 20224, or through the Internet 
at [email protected].

SUPPLEMENTARY INFORMATION:
    Title: Application for Voluntary Correction Program (VCP).
    OMB Number: 1545-XXXX.
    Form Number: Form 8950.
    Abstract: The proposed collection of information is necessary for 
the proper performance of the Service in granting applications for the 
Voluntary Correction with Service Approval Program (VCP). VCP is an 
integral part of the Employee Plans Compliance Resolution System as 
currently contained in Revenue Procedure 2008-50 and subsequent 
revisions.
    Current Actions: This new form is being submitted for OMB approval.
    Type of Review: New collection.
    Affected Public: Businesses and other for-profit organizations and 
not-for-profit institutions.
    Estimated Number of Respondents: 5,000.
    Estimated Time per Respondent: 25 hours 49 minutes.
    Estimated Total Annual Burden Hours: 129,050.
    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 9, 2011.
Yvette Lawrence,
IRS Reports Clearance Officer.
[FR Doc. 2011-7529 Filed 3-30-11; 8:45 am]
BILLING CODE 4830-01-P