[4830-01-u]
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 40
[PS-8-95]
RIN  1545-AT25
Deposits of Excise Taxes
AGENCY:  Internal Revenue Service (IRS), Treasury.
ACTION:  Notice of proposed rulemaking by cross-reference to temporary
regulations.
SUMMARY:  In the Rules and Regulations section of this issue of the Federal
Register, the IRS is issuing temporary regulations relating to deposits of
excise taxes.  The text of those temporary regulations also serves as the text
of these proposed regulations.
DATES:  Written comments and requests for a public hearing must be received by
November 27, 1995.
ADDRESSES:  Send submissions to:  CC:DOM:CORP:T:R (PS-8-95), room 5228,
Internal Revenue Service, POB 7604, Ben Franklin Station, Washington, DC
20044.  In the alternative, submissions may be hand delivered between the
hours of 8 a.m. and 5 p.m. to:  CC:DOM:CORP:T:R (PS-8-95), Courier's Desk,
Internal Revenue Service, 1111 Constitution Avenue NW., Washington, DC.
FOR FURTHER INFORMATION CONTACT:  Concerning submissions, the Regulations
Unit, (202) 622-7180;  concerning the regulations, Ruth Hoffman, (202) 622-
3130 (not toll-free numbers).
SUPPLEMENTARY INFORMATION:
Background
     Temporary regulations in the Rules and Regulations section of this
issue of the Federal Register amend the Excise Tax Procedural Regulations (26
CFR part 40) relating to deposits of excise taxes under section 6302.  The
temporary regulations contain special safe harbor rules for the additional
deposit of taxes due in September of each year.
    The text of those temporary regulations also serves as the text of these
proposed regulations.  The preamble to the temporary regulations explains the
temporary regulations.
Special Analyses
    It has been determined that this notice of proposed rulemaking is not a
significant regulatory action as defined in EO 12866.  Therefore, a regulatory
assessment is not required.  It also has been determined that section 553(b)
of the Administrative Procedure Act (5 U.S.C. chapter 5) and the Regulatory
Flexibility Act (5 U.S.C. chapter 6) do not apply to these regulations, and,
therefore, a Regulatory Flexibility Analysis is not required.  Pursuant to
section 7805(f) of the Internal Revenue Code, this notice of proposed
rulemaking will be submitted to the Chief Counsel for Advocacy of the Small
Business Administration for comment on its impact on small business.
Comments and Requests for a Public Hearing
    Before these proposed regulations are adopted as final regulations,
consideration will be given to any written comments (a signed original and
eight (8) copies) that are submitted timely to the IRS.  All comments will be
available for public inspection and copying.  A public hearing may be
scheduled if requested in writing by any person that timely submits written
comments.  If a public hearing is scheduled, notice of the date, time and
place for the hearing will be published in the Federal Register.
Drafting Information
    The principal author of these regulations is Ruth Hoffman, Office of
Assistant Chief Counsel (Passthroughs and Special Industries).  However, other
personnel from the IRS and Treasury Department participated in their
development.
List of Subjects in 26 CFR Part 40
    Excise taxes, Reporting and recordkeeping requirements.
Proposed Amendments to the Regulations
    Accordingly, 26 CFR part 40 is proposed to be amended as follows:
PART 40--EXCISE TAX PROCEDURAL REGULATIONS
    Paragraph 1.  The authority citation for part 40 continues to read in
part as follows:
    Authority:  26 U.S.C. 7805 * * *    Par. 2.  Section 40.6302(c)-5 is added to read as follows:
40.6302(c)-5  Use of Government depositaries; rules under sections 6302(e)
and (f).
    [The text of this proposed section is the same as the text of
40.6302(c)-5T published elsewhere in this issue of the Federal Register.]

                                  Margaret Milner Richardson
                                           Commissioner of Internal Revenue