This section of the FEDERAL REGISTER

contains regulatory documents having general

applicability and legal effect, most of which

are keyed to and codified in the Code of

Federal Regulations, which is published under

50 titles pursuant to 44 U.S.C. 1510.

The Code of Federal Regulations is sold by

the Superintendent of Documents. Prices of

new books are listed in the first FEDERAL

REGISTER issue of each week.

Rules and Regulations Federal Register

17521 

Vol. 76, No. 61 

Wednesday, March 30, 2011 

FEDERAL DEPOSIT INSURANCE 

CORPORATION 

12 CFR Part 327 

RIN 3064–AD66 

Assessments, Large Bank Pricing 

AGENCY: Federal Deposit Insurance 

Corporation (FDIC). 

ACTION: Final rule; correction. 

SUMMARY: The FDIC is correcting a final 

rule that appeared in the Federal 

Register of February 25, 2011 (76 FR 

10672), regarding Assessments, Large 

Bank Pricing. This correction clarifies 

words of amendatory instruction 

numbered 8 on page 10720. 

DATES: Effective Date: April 1, 2011. 

FOR FURTHER INFORMATION CONTACT: 

Christopher Bellotto, Counsel, Legal 

Division, (202) 898–3801, 550 17th 

Street, NW., Washington, DC 20429. 

SUPPLEMENTARY INFORMATION: In FR Doc. 

2011–3086, appearing on page 10720 in 

the Federal Register of Friday, February 

25, 2011, the following correction is 

made: 

On page 10720, in the third column, 

amendatory instruction 8 is revised, and 

asterisks and a section VI heading are 

added below the Appendix A heading to 

read as follows: 

■ 8. Amend appendix A to subpart A of 

part 327 by adding section VI, and 

revise appendices B and C to subpart A 

of part 327 to read as follows: 

Appendix A to Subpart A of Part 327— 

Description of Scorecard Measures 

* * * * * 

VI. Description of Scorecard Measures 

Dated: March 25, 2011. 

Federal Deposit Insurance Corporation. 

Robert E. Feldman, 

Executive Secretary. 

[FR Doc. 2011–7457 Filed 3–29–11; 8:45 am] 

BILLING CODE 6714–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

26 CFR Parts 1 and 301 

[TD 9518] 

RIN 1545–BJ52 

Specified Tax Return Preparers 

Required To File Individual Income Tax 

Returns Using Magnetic Media 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Final regulations. 

SUMMARY: This document contains final 

regulations on the requirement for 

‘‘specified tax return preparers’’ to file 

individual income tax returns using 

magnetic media pursuant to section 

6011(e)(3) of the Internal Revenue Code 

(Code). The final regulations reflect 

changes made to the law by the Worker, 

Homeownership, and Business 

Assistance Act of 2009. These 

regulations provide guidance to 

specified tax return preparers who 

prepare and file individual income tax 

returns. Unless an exception in these 

regulations applies, a tax return 

preparer who meets the definition of a 

‘‘specified tax return preparer’’ must 

electronically file Federal income tax 

returns that the preparer prepares and 

files for individuals, trusts, and estates. 

These regulations provide a two-year 

transition period for certain specified 

tax return preparers. 

DATES: Effective Date: These regulations 

are effective March 30, 2011. 

Applicability Dates: In accordance 

with sections 7805(b)(1)(B) and (b)(2) 

and section 6011(e)(3), these regulations 

are applicable to individual income tax 

returns filed after December 31, 2010. 

See § 301.6011–7(g). 

FOR FURTHER INFORMATION CONTACT: 

Keith L. Brau, (202) 622–4940 (not a 

toll-free number). 

SUPPLEMENTARY INFORMATION: 

Paperwork Reduction Act 

The collection of information 

contained in these final regulations has 

been reviewed and approved by the 

Office of Management and Budget in 

accordance with the Paperwork 

Reduction Act of 1995 (44 U.S.C. 

3507(d)) under control number 1545– 

2201. The collection of information in 

these final regulations is in § 301.6011– 

7(a)(4)(ii). This taxpayer choice 

statement information will be used by 

tax return preparers and specified tax 

return preparers to demonstrate to the 

IRS that the related individual income 

tax returns filed in paper format were 

not required to be filed electronically 

pursuant to section 6011(e)(3), § 1.6011– 

7, and § 301.6011–7. The collection of 

information is voluntary to obtain a 

benefit. 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless it displays a valid control 

number assigned by the Office of 

Management and Budget. 

Books or records relating to a 

collection of information must be 

retained as long as their contents may 

become material in the administration 

of any internal revenue law. Generally, 

tax returns and tax return information 

are confidential, as required by 26 

U.S.C. 6103. 

Background 

This document contains final 

amendments to the Regulations on 

Income Taxes (26 CFR part 1) and the 

Regulations on Procedure and 

Administration (26 CFR part 301) under 

section 6011(e) of the Code relating to 

the requirement for specified tax return 

preparers to file individual income tax 

returns using magnetic media 

(electronically). Section 17 of the 

Worker, Homeownership, and Business 

Assistance Act of 2009 (Pub. L. 111–92 

(123 Stat. 2984, 2996)) amended section 

6011(e)(1) and added new section 

6011(e)(3) as an exception to the 

restriction in section 6011(e)(1) that the 

Secretary may not require returns of any 

tax imposed by subtitle A on 

individuals, estates, and trusts to be 

filed in any format other than paper 

forms supplied by the Secretary. New 

section 6011(e)(3) provides that the 

Secretary shall require the filing on 

magnetic media of any individual 

income tax returns prepared and filed 

by a specified tax return preparer. 

Section 6011(e)(3)(B) defines a specified 

tax return preparer as, with respect to 

any calendar year, any tax return 

preparer unless such preparer 

reasonably expects to file 10 or fewer 

individual income tax returns during 

such calendar year. Section 6011(e)(3) 

does not define the term ‘‘filed.’’ 

Under section 6011(e)(3)(C), an 

individual income tax return is any 

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