[Federal Register Volume 87, Number 73 (Friday, April 15, 2022)]
[Notices]
[Pages 22627-22628]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-08147]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 8918

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 
information collections, as required by the Paperwork Reduction Act of 
1995. The IRS is soliciting comments concerning Form 8918, Material 
Advisor Disclosure Statement.

DATES: Written comments should be received on or before June 14, 2022 
to be assured of consideration.

ADDRESSES: Direct all written comments to Andres Garcia, Internal 
Revenue

[[Page 22628]]

Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224, 
or by email to [email protected]. Please reference the information 
collection's ``OMB number 1545-0865'' in the Subject line.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the form and instructions should be directed to Sara 
Covington, (202-317-4542), Internal Revenue Service, Room 6526, 1111 
Constitution Avenue NW, Washington, DC 20224, or through the internet 
at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Material Advisor Disclosure Statement.
    OMB Number: 1545-0865.
    Form Numbers: 8918.
    Abstract: Internal Revenue Code (IRC) 6111 requires a sub-set of 
promoters called ``material advisors'' to disclose information about 
the promotion of certain types of transactions called ``reportable 
transactions.'' Material advisors to any reportable transaction must 
disclose certain information about the reportable transaction by filing 
a Form 8918 with the IRS. Material advisors who file a Form 8918 will 
receive a reportable transaction number from the IRS. Material advisors 
must provide the reportable transaction number to all taxpayers and 
material advisors for whom the material advisor acts as a material 
advisor. Form 8918 has been redesigned with 2D Barcodes Placed on Page 
4, which will be submitted with the rest of the form. 2D Barcodes are 
capable of capturing a vast amount of information, relieving material 
advisors of the need to submit attachments to ensure all required 
information is provided.
    Current Actions: There are no changes being made to the form at 
this time.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Business or other for-profit organizations and 
individuals or households.
    Estimated Number of Respondents: 2,279.
    Estimated Time per Respondent: 16 hrs., 30 minutes.
    Estimated Total Annual Burden Hours: 37,627.
    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: April 12, 2022.
Sara L. Covington,
IRS Tax Analyst.
[FR Doc. 2022-08147 Filed 4-14-22; 8:45 am]
BILLING CODE 4830-01-P