SECTION 25. PAPERWORK

REDUCTION ACT

The collections of information contained in this revenue procedure have been reviewed and approved by the Office of Management and Budget in accordance with the Paperwork Reduction Act (44 U.S.C. 3507) under control number 1545-1601. 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 control number.

The collections of information in this revenue procedure are in sections 5, 6, 7, 8, 12, 14, 15, and 16 of this revenue procedure. This information is required to implement EFTPS, and verify that taxpayers have met their obligations to pay their taxes and make FTDs by EFTPS. This information will be used to identify persons paying taxes and making FTDs on behalf of taxpayers and to credit taxpayers’ tax accounts for FTDs and FTPs made through EFTPS. The collections of information are mandatory. The likely respondents are business or other for-profit institutions.

The estimated total annual reporting and recordkeeping burden will be 51,885 hours.

.03 Section 6651 imposes a failure-topay penalty if a taxpayer does not make a timely FTP, unless such failure is due to reasonable cause and not due to willful neglect.

April 27, 1998 18 1998–17 I.R.B.

The estimated annual burden per respondent/recordkeeper will vary from 71 hours to 91 hours, depending on individual circumstances, with an estimated average of 74.33 hours. The estimated number

of respondents and recordkeepers is 620.

The estimated annual frequency of responses is on occasion.

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.

1998–17 I.R.B. 19 April 27, 1998