[Federal Register Volume 76, Number 227 (Friday, November 25, 2011)]
[Notices]
[Pages 72766-72767]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-30414]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Revenue Procedure

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)). The IRS is soliciting comments concerning information 
collection requirements related to and disclosure with the SEC.

DATES: Written comments should be received on or before January 24, 
2012 to be assured of consideration.

ADDRESSES: Direct all written comments to Yvette B. Lawrence, Internal 
Revenue Service, room 6129, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information 
should be directed to Joel Goldberger, (202) 927-9368, at Internal 
Revenue Service, Room 6129, 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 
may be required to pay certain penalties under sections 6662(h), 6662A, 
or 6707A of the Internal Revenue Code, and who may be required under 
section 6707A(e) to disclose those penalties on reports filed with the 
Securities and Exchange Commission. This revenue procedure describes 
the report on which the disclosures must be made, the information that 
must be disclosed, and the deadlines by which persons must make the 
disclosures on reports filed with the SEC in order to avoid additional 
penalties under section 6707A(e).
    Current Actions: There is no change in the paperwork burden 
previously 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: 430.
    The following paragraph applies to all of the collections of 
information covered by this notice:

[[Page 72767]]

    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: November 4, 2011.
Yvette B. Lawrence,
IRS Reports Clearance Officer.
[FR Doc. 2011-30414 Filed 11-23-11; 8:45 am]
BILLING CODE 4830-01-P