Common use of Paperwork Reduction Act Clause in Contracts

Paperwork Reduction Act. The collection of information contained in this revenue procedure has been reviewed and approved by the Office of Management and Budget in accordance with the Paperwork Reduction Act (44 U.S.C. 3507) under control number 1545-1673. 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. The collection of information in this revenue procedure is in sections 4.05, 6.02(5)(d), 6.05, 6.09(5), 6.09(6), 10.01, 10.02, 10.05-.07, 10.10-10.12, 11.02-11.05, 11.07-11.15, 13.01, section 2.01-2.07 of Appendix B, Appendix C, Appendix D, Appendix E, and Appendix F. This information is required to enable the Commissioner, Tax Exempt and Government Entities Division of the Internal Revenue Service to make determinations regarding the issuance of various types of closing agreements and compliance statements. This information will be used to issue closing agreements and compliance statements to allow individual plans to continue to maintain their tax qualified and tax- deferred status. As a result, favorable tax treatment of the benefits of the eligible employees is retained. The likely respondents are individuals, state or local governments, businesses or other for-profit institutions, nonprofit institutions, and small businesses or organizations. The estimated total annual reporting or recordkeeping burden is 76,222 hours. The estimated annual burden per respondent/recordkeeper varies from .5 to 45.5 hours, depending on individual circumstances, with an estimated average of 20.4 hours. The estimated number of respondents or recordkeepers is 3,745. The estimated frequency of responses is occasional. 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. DRAFTING INFORMATION The principal authors of this revenue procedure are Xxxxxxxx Xxxxxx and Xxxxxx Xxxxx of the Employee Plans, Tax Exempt and Government Entities Division. For further information regarding this revenue procedure, please contact the Employee Plans’ taxpayer assistance telephone service at 000-000-0000 (a toll-free number) between the hours of 8:30 a.m. and 4:30 p.m. Eastern Time, Monday through Friday. Alternatively, you can direct your questions to either Xx. Xxxxxx or Xx. Xxxxx by sending a question via electronic mail to XxxxxxxxxxXxxxXxxxxxxxx@xxx.xxx.