[Federal Register Volume 64, Number 165 (Thursday, August 26, 1999)]
[Notices]
[Pages 46750-46751]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-22252]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Revenue Procedure 99-31
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, Pub. L. 104-13 (44 U.S.C.
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning
Revenue Procedure 99-31, Employee Plans Compliance Programs--Acceptable
Methods of Self-Correction and Closing Agreements.
DATES: Written comments should be received on or before October 25,
1999 to be assured of consideration.
ADDRESSES: Direct all written comments to Garrick R. Shear, Internal
Revenue Service, room 5244, 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 Carol Savage,
(202) 622-3945, Internal Revenue Service, room 5242, 1111 Constitution
Avenue NW., Washington, DC 20224.
SUPPLEMENTARY INFORMATION:
Title: Employee Plans Compliance Programs--Acceptable Methods of
Self-Correction and Closing Agreements.
OMB Number: 1545-1656.
Revenue Procedure Number: Revenue 99-31.
Abstract: The information requested in Revenue Procedure 99-31 is
required to enable the Internal Revenue Service to make determinations
on the issuance of various closing agreements and compliance statements
as well as to verify that plan participants have been notified by their
employers. The issuance of these agreements and proper notification
allows individual plans to maintain their tax-qualified status. As a
result, the favorable tax treatment of the benefits of the eligible
employees is retained.
Current Actions: There are no changes being made to the revenue
procedure at this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals or households, business or other for-
profit organizations, not-for-profit institutions, and state, local or
tribal governments.
Estimated Number of Respondents: 1,000.
Estimated Time Per Respondent: 10.8 hours.
Estimated Total Annual Burden Hours: 10,800.
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.
[[Page 46751]]
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: August 19, 1999.
Garrick R. Shear,
IRS Reports Clearance Officer.
[FR Doc. 99-22252 Filed 8-25-99; 8:45 am]
BILLING CODE 4830-01-P
