[Federal Register Volume 82, Number 219 (Wednesday, November 15, 2017)]
[Notices]
[Page 52968]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-24661]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


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 Internal Revenue Service, 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 
continuing information collections, as required by the Paperwork 
Reduction Act of 1995. The IRS is soliciting comments concerning the 
safe harbor for inadvertent normalization violations.

DATES: Written comments should be received on or before January 16, 
2018 to be assured of consideration.

ADDRESSES: Direct all written comments to L. Brimmer, Internal Revenue 
Service, Room 6529, 1111 Constitution Avenue NW., Washington, DC 20224.

FOR FURTHER INFORMATION CONTACT:  Requests for additional information 
or copies of the revenue procedure should be directed to Kerry Dennis, 
at (202) 317-5751 or Internal Revenue Service, Room 6529, 1111 
Constitution Avenue NW., Washington DC 20224, or through the internet, 
at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Safe Harbor for Inadvertent Normalization Violations.
    OMB Number: 1545-2276.
    Revenue Procedure Number: 2017-47.
    Abstract: Revenue Procedure 2017-47 provides a safe harbor that 
allows a utility taxpayer that inadvertently uses a practice or 
procedure that is inconsistent with the normalization rules (such as 
failure to use the proration methodology) to correct that practice or 
procedure at the next available opportunity and be considered not to 
have violated the normalization rules by their inadvertent error 
without requiring the taxpayer to obtain a private letter ruling from 
the Service regarding the inadvertent error.
    Current Actions: There is no change to this existing revenue 
procedure.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 150.
    Estimated Time per Respondent: 12 hours.
    Estimated Total Annual Burden Hours: 1,800.
    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: November 8, 2017.
L. Brimmer,
Senior Tax Analyst.
[FR Doc. 2017-24661 Filed 11-14-17; 8:45 am]
 BILLING CODE 4830-01-P