(TD 8656 - Final) Section 6662 - Imposition of the Accuracy-Related Penalty

Forms and Documents

Document Name	Status
2025 Supporting Statement (1545-1426) TD 8656.docx Supporting Statement A	2025-08-11

IC Document Collections

IC ID	Document Title	Status
43875	INTL-21-91 (TD 8656 - Final) Section 6662 - Imposition of the Accuracy-Related Penalty	Unchanged

ICR Details

OMB Control No: 1545-1426	ICR Reference No: 202506-1545-003
Status: Received in OIRA	Previous ICR Reference No: 202205-1545-003
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: (TD 8656 - Final) Section 6662 - Imposition of the Accuracy-Related Penalty
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 09/26/2025

	Requested	Previously Approved
Expiration Date	36 Months From Approved	09/30/2025
Responses	2,500	2,500
Time Burden (Hours)	20,125	20,125
Cost Burden (Dollars)	0	0

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Abstract: Section 6662(e) of the Internal Revenue Code ("Code") defines a substantial valuation misstatement under Chapter 1 of the Code for purposes of the accuracy related penalty imposed under section 6662(a). The penalty is imposed on underpayments of tax, including those caused by a substantial valuation misstatement for transactions subject to section 482. Section 6662(e)(3)(B) provides, in general, that certain adjustments are excluded in determining whether the penalty applies if a taxpayer demonstrates that it followed certain requirements in analyzing its transfer pricing, documented that analysis, and provided that documentation to the IRS upon request. Consistent with the statute, these regulations require that taxpayers contemporaneously document their transfer pricing analysis, notify the IRS of the use of certain methods for determining an arm's length price, and provide that documentation to the IRS upon request.

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Authorizing Statute(s): US Code: 26 USC 482 Name of Law: Allocation of Income and Deductions
   US Code: 26 USC 6662 (e) Name of Law: Substantial valuation misstatement under chapter 1
   US Code: 26 USC 6662 (a) Name of Law: Imposition of Penalty
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	90 FR 20552	05/14/2025
30-day Notice:	Federal Register Citation:	Citation Date:
	90 FR 46306	09/25/2025
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
INTL-21-91 (TD 8656 - Final) Section 6662 - Imposition of the Accuracy-Related Penalty

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ICR Summary of Burden

	Total Request	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	2,500	2,500	0	0	0	0
Annual Time Burden (Hours)	20,125	20,125	0	0	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement:

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 09/26/2025

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