Upon renewal, IRS will address whether this collection should be consolidated with the collection associated with form 720 and ensure that any Privacy Act related information in the submission is accurate and up to date, including but not limited to, the inclusion of a Privacy Act statement.
Inventory as of this Action
Requested
Previously Approved
06/30/2018
6 Months From Approved
10,500
0
0
242,350
0
0
0
0
0
Internal Revenue Code section 6302(c) authorizes the use of Government depositaries for the receipt of taxes imposed under the internal revenue laws. These regulations provide reporting and recordkeeping requirements related to return, payments, and deposits of tax for excise taxes currently reportable on Form 720.
This collection pertains to the upcoming tax year 2016 filing season. Emergency reinstatement is requested so that a lapse in approval will not impact the ability of respondents to file necessary tax-related forms with the IRS and comply with income tax laws and regulations. The usage of normal clearance procedures would create confusion for potential respondents and negatively affect both them and the IRS if timely submissions cannot be made. IRS requests approval for six months, during which time a full extension request will be finalized and submitted to OMB.
US Code:
26 USC 6302(c)
Name of Law: Mode or time of collection; Use of Government depositories.
US Code:
26 USC 6302(f)
Name of Law: Time for deposit of certain excise taxes.
US Code:
26 USC 7805
Name of Law: Procedure and Administration
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.
1545-1296_SS.doc
1545-1296.PS-27-71.pdf
PS-27-91 (TD 8442) Procedural Rules for Excise Taxes Currently Reportable on Form 720; PS-8-95 (TD 8685) Deposits of Excise Taxes