REG-116641-01 (TD 9136 - Final) Information Reporting and Backup Withholding for Payment Card Transactions; (REG-163195-05 (NPRM))

Forms and Documents

Document	Type	Status	Availability
Summary of Changes.doc	Supplementary Document	Uploaded 2008-10-16	Available
REG-163195-05 Sup.doc	Supporting Statement A	Uploaded 2008-10-16	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
19440	REG-116641-01 (Final) Information Reporting and Backup Withholding for Payment Card Transactions		Modified

ICR Details

OMB Control No: 1545-1819	ICR Reference No: 200810-1545-018
Status: Historical Inactive	Previous ICR Reference No: 200512-1545-011
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: REG-116641-01 (TD 9136 - Final) Information Reporting and Backup Withholding for Payment Card Transactions; (REG-163195-05 (NPRM))
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Preapproved	Conclusion Date: 04/08/2009
	Date Received in OIRA: 12/16/2008
Terms of Clearance: Pre-approval contingent upon no substantive changes to this collection after adoption of the final rule. Otherwise this collection should be re-submitted to OMB for review.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2012	36 Months From Approved	11/30/2009
Responses	50,854,000	0	235,000,000
Time Burden (Hours)	37,239,570	0	11,750,000
Cost Burden (Dollars)	0	0	0

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Abstract: This document contains final regulations relating to the information reporting requirements, information reporting penalties, and backup withholding requirements for payment card transactions. This document also contains final regulations relating to the IRS TIN Matching Program.

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Authorizing Statute(s): US Code: 26 USC 3406 Name of Law: Backup withholding
  

Citations for New Statutory Requirements: US Code: 26 USC 3406 Name of Law: Backup withholding

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1545-BG53	Proposed rulemaking	72 FR 38534	07/13/2007

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	73 FR 46360	08/08/2008
30-day Notice:	Federal Register Citation:	Citation Date:
	73 FR 76449	12/16/2008
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
REG-116641-01 (Final) Information Reporting and Backup Withholding for Payment Card Transactions

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ICR Summary of Burden

	Total Request	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	50,854,000	235,000,000	0	-184,146,000	0	0
Annual Time Burden (Hours)	37,239,570	11,750,000	0	25,489,570	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: This document contains final regulations relating to the information reporting requirements, information reporting penalties, and backup withholding requirements for payment card transactions. This document also contains final regulations relating to the IRS TIN Matching Program. Proposed amendments to 26 CFR part 31 relating to backup withholding under section 3406 of the Internal Revenue Code (Code) and proposed amendments to 26 CFR part 301 relating to waivers under Code section 6724 of information reporting penalties under Code sections 6721 and 6722 have resulted in total burden increase. The combined estimated average reporting burden is 1.91 hours per taxpayer. The total estimated burden associated with TD 9136 was 11,750,000. The addition of REG-163195-05 added 25,489,570 total hours. This results in a total estimated reporting burden for this entire collection of information to 37,239,570 hours.

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Annual Cost to Federal Government: $0

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: 12/16/2008

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