Disclosure by Tax-Exempt Entity Regarding Prohibited Tax Shelter Transaction

Forms and Documents

Document Name	Status
Form 8886-T Disclosure by Tax-Exempt Entity Regarding Prohibited Tax Shelter Transaction Form	New
brdn_busi.pdf Supplementary Document	2007-06-04
ombat2.doc Supplementary Document	2007-06-04
SS.doc Supporting Statement A	2007-06-04

IC Document Collections

IC ID	Document Title	Status
180459	Disclosure by Tax-Exempt Entity Regarding Prohibited Tax Shelter Transaction Form	New

ICR Details

OMB Control No: 1545-2078	ICR Reference No: 200706-1545-013
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Disclosure by Tax-Exempt Entity Regarding Prohibited Tax Shelter Transaction
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 06/07/2007
OIRA Conclusion Action: Approved without change	Conclusion Date: 06/05/2007
	Date Received in OIRA: 06/04/2007
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2007	6 Months From Approved
Responses	6,500	0	0
Time Burden (Hours)	55,900	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: Certain tax-exempt entities are required to file Form 8886-T to disclose information for each prohibited tax shelter transaction to which the entity was a party.

Emergency Justfication: Emergency review is required because temporary regulations are about to be issued under section 6033(a)(2) that require taxpayers to file this form. ICR 200704-1545-051 is currently pending approval from OMB.

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Authorizing Statute(s): None

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Disclosure by Tax-Exempt Entity Regarding Prohibited Tax Shelter Transaction	8886-T	Disclosure by Tax-Exempt Entity Regarding Prohibited Tax Shelter Transaction

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	6,500	0	0	6,500	0	0
Annual Time Burden (Hours)	55,900	0	0	55,900	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: Temporary regulations are about to be issued under section 6033(a)(2) that require taxpayers to file this form. ICR 200704-1545-051 is currently pending approval from OMB.

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Annual Cost to Federal Government: $5,000

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 06/04/2007

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