SECTION 10. PAPERWORK

REDUCTION ACT

The collections of information in this notice have been reviewed and approved by the Office of Management and Budget (OMB) in accordance with the Paperwork Reduction Act (44 U.S.C. 3507) under control number 1545–1942.

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.

The collections of information in this notice are in sections 3, 4, 7, and 8. The collections of information in sections 3, 4, and 8 are required from donors to satisfy the substantiation requirements of

hicle. The qualified vehicle is sold without any significant intervening use or material improvement by O . Gross proceeds from the sale are $300. O provides an acknowledgment to the donor in which O knowingly includes a false or fraudulent statement that the gross proceeds from the sale of the vehicle were $1,000. O is subject to a penalty under § 6720 for knowingly furnishing a false or fraudulent acknowledgment to the donor. The amount of the penalty is $350, the product of the sales price stated in the acknowledgment ($1,000) and 35%, because that amount is greater than the gross proceeds from the sale of the vehicle ($300).

7.04 Sections 170(f)(12)(D) and 6720 inapplicable if donor claims deduction of $500 or less

For contributions within the scope of the rules described in section 4 of this notice (regarding deductions of $500 or less), §§ 170(f)(12)(D) and 6720 do not apply.