SECTION 6. EFFECT OF

CORRECTING A FAILURE TO PAY REBATE

If an issuer satisfies the requirements of this revenue procedure for correcting a failure to timely pay a rebate amount under § 148(f)(3) and § 1.148–3(g), the rebate amount will be treated as paid on the computation date to which it relates. Any interest or penalty amounts paid under this revenue procedure are not treated as payments under § 1.148–3(d) for purposes of computing the rebate amount. Acceptance by the Service of a late payment amount under this revenue procedure does not constitute a determination by the Service that the issuer paid a correct rebate amount as required by § 148(f) and § 1.148–3.

2005–28 I.R.B. 85 July 11, 2005

vision Counsel/Associate Chief Counsel (Tax Exempt and Government Entities). For further information regarding this revenue procedure, contact Mr. Kawecki at (202) 283–9782 (not a toll-free call).

The estimated annual burden per respondent: 30 minutes.

The estimated number of respondents: 6. The estimated annual frequency of responses: on occasion.

The collection of information contained in section 3.04 of this revenue procedure has been previously reviewed and approved by OMB under control number 1545–1219. 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.

DRAFTING INFORMATION

The principal authors of this revenue procedure are Lynn Kawecki of the Tax Exempt Bond office of the Tax Exempt and Government Entities (TE/GE) Division and David White of the Office of Di

July 11, 2005 86 2005–28 I.R.B.