REG-120168-97 (Final) Preparer Due Diligence Requirements for Determining Earned Income Credit Eligibility

ICR 200804-1545-027

OMB: 1545-1570

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2008-04-28
ICR Details
1545-1570 200804-1545-027
Historical Active 200504-1545-004
TREAS/IRS ah-1570-027
REG-120168-97 (Final) Preparer Due Diligence Requirements for Determining Earned Income Credit Eligibility
Extension without change of a currently approved collection   No
Regular
Approved without change 08/05/2008
Retrieve Notice of Action (NOA) 05/21/2008
  Inventory as of this Action Requested Previously Approved
08/31/2011 36 Months From Approved 08/31/2008
760,704 0 760,704
507,136 0 507,136
0 0 0

Income tax return preparers who satisfy the due diligence requirements in this regulation will avoid the imposition of the penalty under section 6695(g) of the Internal Revenue Code for returns or claims for refund due after December 31, 1997. The due diligence requirements include soliciting the information necessary to determine a taxpayer's eligibility for, and amount of, the Earned Income Tax Credit, and the retention of this information.

US Code: 26 USC 6695(g) Name of Law: Failure to be diligent in determining eligibility for earned income credit.
  
None

1545-AW74 Final or interim final rulemaking 65 FR 61268 10/17/2000

  73 FR 7630 02/08/2008
73 FR 27892 05/14/2008
No

1
IC Title Form No. Form Name
REG-120168-97 (Final) Preparer Due Diligence Requirements for Determining Earned Income Credit Eligibility

  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 760,704 760,704 0 0 0 0
Annual Time Burden (Hours) 507,136 507,136 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$0
No
No
Uncollected
Uncollected
Uncollected
Uncollected
Charles Hall 202 622-4940

  No

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.
05/21/2008


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