IRC SECTION 6655 IMPOSES A PENALTY ON
CORPORATIONS FOR FAILURE TO PAY ESTIMATED TAX. SECTION 6655(D) SETS
FORTH THE EXCEPTIONS UNDER WHICH THE PENALTY WILL NOT BE IMPOSED.
FORM 201 220 IS USED BY CORPORATIONS TO FURNISH AN EXPLANATION TO
AVOID THE PENALTY FOR UNDERPAYMENT OF ESTIMATED TAX. THE
INFORMATION IS USED TO DETERMINE WHETHER THE PENALTY SHOULD BE
ASSESSED.
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.