[Federal Register Volume 89, Number 215 (Wednesday, November 6, 2024)]
[Notices]
[Pages 88111-88112]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-25719]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Regulation Project

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Internal Revenue Service (IRS), as part of its continuing 
effort to reduce paperwork and respondent burden, invites the general 
public and other Federal agencies to take this opportunity to comment 
on information collections, as required by the Paperwork Reduction Act 
of 1995. The IRS is soliciting comments concerning, De Minimis Error 
Safe Harbor Exceptions to Penalties for Failure To File Correct 
Information Returns or Furnish Correct Payee Statements.

DATES: Written comments should be received on or before January 6, 2025 
to be assured of consideration.

ADDRESSES: Direct all written comments to Andres Garcia, Internal 
Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 
20224, or by email to <a href="/cdn-cgi/l/email-protection#fd8d8f9cd39e9290909893898ebd948f8ed39a928b"><span class="__cf_email__" data-cfemail="bacac8db94d9d5d7d7dfd4cec9fad3c8c994ddd5cc">[email protected]</span></a>. Include ``OMB Number 1545-
2301--De Minimis Error Safe Harbor Exceptions to Penalties for Failure 
To File Correct Information Returns or Furnish Correct Payee 
Statements'' in the subject line of the message.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of this collection should be directed to Martha R. Brinson, at 
(202) 317-5753, or at Internal Revenue Service, Room 6526, 1111 
Constitution Avenue NW, Washington, DC 20224, or through the internet 
at <a href="/cdn-cgi/l/email-protection#14597566607c753a463a56667d7a677b7a547d66673a737b62"><span class="__cf_email__" data-cfemail="5f123e2d2b373e710d711d2d36312c30311f362d2c71383029">[email protected]</span></a>.

SUPPLEMENTARY INFORMATION: 
    Title: De Minimis Error Safe Harbor Exceptions to Penalties for 
Failure To File Correct Information Returns or Furnish Correct Payee 
Statements.
    OMB Number: 1545-2301.
    Regulation Project Number: TD 9984.
    Abstract: Treasury Decision (TD) 9984 contains regulation 
implementing statutory safe harbor rules that protect persons required 
to file information

[[Page 88112]]

returns or to furnish payee statement from Internal Revenue Code 
penalties for failure to file correct information returns or furnish 
correct payee statements. The statutory safe harbor rules treat 
information returns and payee statements with erroneous dollar amounts 
as correct returns or statements for certain penalty purposes if the 
errors are de minimis in dollar amount. The final regulations also 
prescribe the time and manner in which a payee may elect not to have 
the statutory safe harbor rules apply. The collection of information 
will be the election, revocation of the election, notification of the 
election, and specified record retention regarding these actions. The 
collection is necessary for the effective operation of the exception 
and election. Respondents are payees or filers.
    Current Actions: There is no change to the collection requirements 
since the previous OMB approval.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or Households.
    Estimated Number of Responses: 16,123,292.
    Estimated Time per Response: 4 minutes.
    Estimated Total Annual Burden Hours: 1,074,886.
    The following paragraph applies to all of the collections of 
information covered by this notice:
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless the collection of 
information displays a valid OMB control number. 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.
    Request for Comments: Comments submitted in response to this notice 
will be summarized and/or included in the request for OMB approval. 
Comments will be of public record. Comments are invited on: (a) whether 
the collection of information is necessary for the proper performance 
of the functions of the agency, including whether the information has 
practical utility; (b) the accuracy of the agency's estimate of the 
burden of the collection of information; (c) ways to enhance the 
quality, utility, and clarity of the information to be collected; (d) 
ways to minimize the burden of the collection of information on or 
other forms of information technology; and (e) estimates of capital or 
start-up costs and costs of operation, maintenance, and purchase of 
services to provide information.

    Approved: October 28, 2024.
Martha R. Brinson,
Tax Analyst.
[FR Doc. 2024-25719 Filed 11-5-24; 8:45 am]
BILLING CODE 4830-01-P


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