SECTION 10. PAPERWORK

REDUCTION ACT

The collection of information contained in this revenue procedure has 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 1545–1880. 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.

This revenue procedure contains a collection of information requirement in sections 5.01 and 5.02. The purpose of the collection of information is to enable the Service to evaluate an issuer’s request for a waiver of a penalty, or an extension of time to make a late payment, in the case of a failure by the issuer to timely pay the correct rebate amount:

The likely respondents are state and local governments.

The estimated total annual reporting burden is: 3 hours.

neglect, an examination of the bond issue may be opened. If, however, an examination of the bond issue is not opened within 180 days after the date the Service’s notification described in this section 4.06 is sent, then the issuer’s failure to timely pay the rebate amount will be treated as not due to willful neglect.

.07 For purposes of this section 4, a notification in writing is made on the date the written notification is sent.