60510 Federal Register / Vol. 75, No. 189 / Thursday, September 30, 2010 / Notices 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Comment 

Request for Form 8867 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Notice and request for 

comments. 

SUMMARY: The Department of the 

Treasury, 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 proposed 

and/or continuing information 

collections, as required by the 

Paperwork Reduction Act of 1995, 

Public Law 104–13 (44 U.S.C. 

3506(c)(2)(A)). Currently, the IRS is 

soliciting comments concerning Form 

8867, Paid Preparer’s Earned Income 

Credit Checklist. 

DATES: Written comments should be 

received on or before November 29, 

2010 to be assured of consideration. 

ADDRESSES: Direct all written comments 

to Gerald Shields, Internal Revenue 

Service, room 6129, 1111 Constitution 

Avenue, NW., Washington, DC 20224. 

FOR FURTHER INFORMATION CONTACT: 

Requests for additional information or 

copies of the form and instructions 

should be directed to Allan Hopkins at 

Internal Revenue Service, room 6129, 

1111 Constitution Avenue, NW., 

Washington, DC 20224, or at (202) 622– 

6665, or through the Internet at 

Allan.M.Hopkins@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Paid Preparer’s Earned Income 

Credit Checklist. 

OMB Number: 1545–1629. 

Form Number: 8867. 

Abstract: Form 8867 helps preparers 

meet the due diligence requirements of 

Internal Revenue Code section 6695(g), 

which was added by section 1085(a)(2) 

of the Taxpayer Relief Act of 1997. Paid 

preparers of Federal Income tax returns 

or claims for refund involving the 

earned income credit (EIC) must meet 

the due diligence requirements in 

determining if the taxpayer is eligible 

for the RIC and the amount of the credit. 

Failure to do so could result in a $100 

penalty for each failure. Completion of 

Form 8867 is one of the due diligence 

requirements. 

Current Actions: There are no changes 

being made to the form at this time. 

Type of Review: Extension of a 

currently approved collection. 

Affected Public: Business or other forprofit organizations. 

Estimated Number of Responses: 

8,368,447. 

Estimated Time per Respondent: 1 

hour, 47 minutes. 

Estimated Total Annual Burden 

Hours: 14,979,521. 

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. All 

comments will become a matter 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 shall have 

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 

respondents, including through the use 

of automated collection techniques 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: September 7, 2010. 

Allan Hopkins, 

Tax Analyst. 

[FR Doc. 2010–24483 Filed 9–29–10; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Comment 

Request for Form 1120–RIC 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Notice and request for 

comments. 

SUMMARY: The Department of the 

Treasury, 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 proposed 

and/or continuing information 

collections, as required by the 

Paperwork Reduction Act of 1995, 

Public Law 104–13 (44 U.S.C. 

3506(c)(2)(A)). Currently, the IRS is 

soliciting comments concerning Form 

1120–RIC, U.S. Income Tax Return for 

Regulated Investment Companies. 

DATES: Written comments should be 

received on or before November 29, 

2010 to be assured of consideration. 

ADDRESSES: Direct all written comments 

to Gerald Shields, Internal Revenue 

Service, room 6129, 1111 Constitution 

Avenue, NW., Washington, DC 20224. 

FOR FURTHER INFORMATION CONTACT: 

Requests for additional information or 

copies of the form and instructions 

should be directed to Allan Hopkins, at 

(202) 622–6665, or at Internal Revenue 

Service, room 6129, 1111 Constitution 

Avenue, NW., Washington, DC 20224, 

or through the Internet, at 

Allan.M.Hopkins@irs,gov. 

SUPPLEMENTARY INFORMATION: 

Title: U.S. Income Tax Return for 

Regulated Investment Companies. 

OMB Number: 1545–1010. 

Form Number: 1120–RIC. 

Abstract: Internal Revenue Code 

sections 851 through 855 provide rules 

for the taxation of a domestic 

corporation that meets certain 

requirements and elects to be taxed as 

a regulated investment company. Form 

1120–RIC is filed by a domestic 

corporation making such an election in 

order to report its income and 

deductions and to compute its tax 

liability. The IRS uses the information 

on Form 1120–RIC to determine 

whether the corporation’s income, 

deductions, credits, and tax have been 

correctly reported. 

Current Actions: There are no changes 

being made to the form at this time. 

Type of Review: Extension of a 

currently approved collection. 

Affected Public: Business or other forprofit organizations. 

Estimated Number of Respondents: 

3,605. 

Estimated Time per Respondent: 102 

hours, 22 minutes. 

Estimated Total Annual Burden 

Hours: 369,021. 

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 

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