[Federal Register Volume 89, Number 72 (Friday, April 12, 2024)]
[Notices]
[Pages 25918-25919]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-07764]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Itemized Statement 
Component of Advisee List

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 
itemized statement component of advisee list.

DATES: Written comments should be received on or before June 11, 2024 
to be assured of consideration

ADDRESSES: Direct all written comments to Andres Garcia, Internal 
Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 
20224, or by email to [email protected]. Include OMB control number 
1545-1686 or Itemized Statement Component of Advisee List.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the form should be directed to Kerry Dennis at (202) 317-
5751, or at Internal Revenue Service, Room 6526, 1111 Constitution 
Avenue NW, Washington, DC 20224, or through the internet, at 
[email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Itemized Statement Component of Advisee List.
    OMB Number: 1545-1686.
    Form Number: Form 13976.
    Abstract: Internal Revenue Code (IRC) Section 6112, (as amended by 
the American Jobs Creation Act of 2004, Pub. L. 108-357), requires that 
each material advisor with respect to any reportable transaction shall 
maintain (in such manner as the Secretary may by regulations prescribe) 
a list identifying each person with respect to whom the advisor acted 
as a material advisor. Form 13976, Itemized Statement Component of 
Advisee List, may be used by Material Advisors for the purpose of 
preparing and maintaining list with respect to reportable transaction 
under section 6112, but the form is not required to be used under 
301.6112-1, but is offered as an option for maintaining the transaction 
participants list.
    Current Actions: There is no change to the paperwork burden 
previously approved by OMB.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations, 
individuals or households, and not-for-profit institutions.
    Estimated Number of Respondents: 500.
    Estimated Time per Respondent: 100.
    Estimated Total Annual Burden Hours: 50,000 hours.
    The following paragraph applies to all 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 if their

[[Page 25919]]

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 1, 2024.
Kerry L. Dennis,
Tax Analyst.
[FR Doc. 2024-07764 Filed 4-11-24; 8:45 am]
BILLING CODE 4830-01-P