Disclosure Statement (Form 8275), and Regulation Disclosure Statement (Form 8275-R)

Forms and Documents

Document Name	Status
Form 8275 Form 8275 - Disclosure Statement Form	Modified
Form 8275-R Form 8275-R - Regulation Disclosure Statement Form	New
ombat1.doc Supplementary Document	2010-05-04
8275 and 8275-R.Sup.doc Supporting Statement A	2010-05-04

IC Document Collections

IC ID	Document Title	Status
39853	Form 8275 - Disclosure Statement Form	Modified
192799	Form 8275-R - Regulation Disclosure Statement Form	New

ICR Details

OMB Control No: 1545-0889	ICR Reference No: 201005-1545-008
Status: Historical Active	Previous ICR Reference No: 200612-1545-030
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Disclosure Statement (Form 8275), and Regulation Disclosure Statement (Form 8275-R)
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 07/21/2010
	Date Received in OIRA: 05/18/2010
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2013	36 Months From Approved	07/31/2010
Responses	666,666	0	746,964
Time Burden (Hours)	3,716,664	0	4,164,325
Cost Burden (Dollars)	0	0	0

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Abstract: IRC section 6662 imposes accuracy related penalties for substantial understatement of tax liability or negligence or disregard of rules and regulations. Section 6694 imposes similar penalties on return preparers. Regulations section 1.6662-4(e) and (f) provide for reduction of these penalties if adequate disclosure of the tax treatment is made on Form 8275 or, if the position is contrary to a regulation on Form 8275-R.

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Authorizing Statute(s): US Code: 26 USC 6662 Name of Law: Imposition of accuracy-related penalty on underpayments
  

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
60-day Notice:	Federal Register Citation:	Citation Date:
	74 FR 60033	11/19/2009
30-day Notice:	Federal Register Citation:	Citation Date:
	75 FR 27859	05/18/2010
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
Form 8275 - Disclosure Statement	8275	Disclosure Statement
Form 8275-R - Regulation Disclosure Statement	8275-R	Regulation Disclosure Statement

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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	666,666	746,964	0	0	-80,298	0
Annual Time Burden (Hours)	3,716,664	4,164,325	0	0	-447,661	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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

Burden Increase Due to:

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

Burden Reduction Due to:

Short Statement: Form 8275 is used by taxpayers and tax return preparers to disclose items of positions, except those taken contrary to a regulation, that are not otherwise adequately disclosed on a tax return to avoid certain penalties. Form 8275-R is used by taxpayers and tax return preparers to disclose positions taken on a tax return that are contrary to Treasury regulations. There are no changes to the form at this time. However, due to inconsistencies with information currently on file with OMB, we requesting the OMB records be decreased by 80,298 responses and 447,661 hours.

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Annual Cost to Federal Government: $10,526

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]? No

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)? No

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: 05/18/2010

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