14 May 2025
📄IRS Requests Comments on Accuracy-Related Penalty Collection Requirements
Agency Information Collection Activities; Comment Request for TD 8656 Collection Requirements
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 information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning the collection requirements of TD 8656, Imposition of the Accuracy-Related Penalty.
Agencies
- Treasury Department
- Internal Revenue Service
Business Impact
$$ - Med
The text discusses the IRS's request for comments on information collection related to the imposition of the accuracy-related penalty. This impacts business owners as it relates to compliance with tax regulations, specifically the collection of information necessary to avoid penalties.