Comment on FR Doc # E9-05951

Outline of Oral Comments Internal Revenue Service 26 CFR Part 31 [REG–158747–06] RIN 1545–BG45 Withholding Under Internal Revenue Code Section 3402(t); Hearing Purpose of this document is to provide an outline of the oral comments relating to the notice of proposed rulemaking (REG–158747–06) that was published in the Federal Register on Friday, December 5, 2008 (73 FR 74082). Total time for comments: 10 minutes Comment: TIPRA represents an unfunded mandate (3 minutes). During a time of unprecedented economic challenges, the States are being asked to make significant expenditures with NO expected return. Comment: TIPRA should be repealed. (1 minute). Our preference would be to have TIPRA repealed but considering the purpose of this Hearing; our position is to exclude payment card transactions from the withholding/reporting requirement. Comment: Loss of the use of payment cards will compound the negative impact to the States caused by withholding and reporting (5 minutes). Without a payment card exclusion, or the ability for commercial card processing to perform withholding, States will be forced to forgo many of the acquisition and financial management savings they currently receive through the use of payment cards. Even with a threshold of $10,000, the Federal Government had over $7 billion in payments on a card last year. Glen B. Gainer III WV State Auditor