82 FR 57529 - Proposed Collection; Comment Request for Form 720X

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 82, Issue 232 (December 5, 2017)

The Internal Revenue Service, 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. The IRS is soliciting comments concerning Form 720X, Amended Quarterly Federal Excise Tax Return.

[Federal Register Volume 82, Number 232 (Tuesday, December 5, 2017)]
[Notices]
[Page 57529]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-26177]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 720X

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Internal Revenue Service, 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. The IRS is soliciting comments 
concerning Form 720X, Amended Quarterly Federal Excise Tax Return.

DATES: Written comments should be received on or before February 5, 
2018 to be assured of consideration.

ADDRESSES: Direct all written comments to L. Brimmer, Internal Revenue 
Service, Room 6526, 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 Sara 
Covington, (202) 317-6038, Internal Revenue Service, Room 6526, 1111 
Constitution Avenue NW., Washington, DC 20224, or through the internet 
at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Amended Quarterly Federal Excise Tax Return.
    OMB Number: 1545-1759.
    Form Number: 720X.
    Abstract: Form 720X is used to make adjustments to liability 
reported on forms 720 you have filed for previous quarters. It can be 
filed by itself or it can be attached to any subsequent Form 720. Code 
section 6416(d) allows taxpayers to take a credit on a subsequent 
return rather than filing a refund claim. The creation of Form 720X is 
to provide a uniform standard for trust fund accounting.
    Current Actions: There are no changes being made to Form 720X at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses or other for-profit organizations.
    Estimated Number of Responses: 22,000.
    Estimated Time per Response: 6 hrs, 56 minutes.
    Estimated Total Annual Burden Hours: 152,460.
    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: November 28, 2017.
L. Brimmer,
Senior Tax Analyst.
[FR Doc. 2017-26177 Filed 12-4-17; 8:45 am]
 BILLING CODE 4830-01-P