# 2025-08424: IRS Seeks Comments on Business Valuation Penalty Paperwork

2025-08424, Agency Information Collection Activities; Comment Request for TD 8656 Collection Requirements, is a Federal Register notice from Treasury Department, Internal Revenue Service published 2025-05-14, effective Approved: May 7, 2025.; PRIA reads it as touching household money (as of 2026-10-19).

- Canonical: https://policyrisk.com/federal-register/2025-08424
- As of: 2026-10-19
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2025-08424
- Title: Agency Information Collection Activities; Comment Request for TD 8656 Collection Requirements
- Type: Notice
- Agencies: Treasury Department; Internal Revenue Service
- Citation: 90 FR 20552
- Published: 2025-05-14
- Effective: Approved: May 7, 2025.
- Comments close: not stated
- Significant: no
- Touches household money: yes
- Regulation identifier numbers: none
- Last updated: 2026-10-19

## In one line

IRS Seeks Comments on Business Valuation Penalty Paperwork

## Summary

The IRS is asking businesses to share their thoughts on rules about penalties for tax mistakes related to how they value transactions. There’s no change in paperwork, but they want comments by July 14, 2025. This helps keep tax rules clear and fair without adding extra hassle or costs.

## Abstract

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.

## Effects PRIA read

- Avoid Accuracy-Related Penalty With Documentation: benefit, medium. If your business has a transaction subject to Internal Revenue Code section 482, you can exclude an amount from the Section 6662 accuracy-related penalty if you meet certain requirements and maintain documentation showing how the transfer price was determined. The documentation requirement is descr…
- Paperwork Burden Continues: 8h per Response: cost, medium. The IRS estimates 2,500 responses for TD 8656 with an average of 8 hours and 3 minutes per respondent, totaling 20,125 annual burden hours. The notice states there is no change in the paperwork burden previously approved by OMB.
- Ongoing Record Retention Requirement: cost, low. Books or records related to this information collection must be retained as long as their contents may become material in the administration of any internal revenue law. Tax returns and tax return information generally remain confidential under 26 U.S.C. 6103.

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- [2026-18219](https://policyrisk.com/federal-register/2026-18219): Car Loan Interest Deduction, 2026-09-08
- [2026-17622](https://policyrisk.com/federal-register/2026-17622): Federal Independent Dispute Resolution Operations; Correction, 2026-08-28

## Sources
- [2025-08424 on federalregister.gov](https://www.federalregister.gov/documents/2025/05/14/2025-08424/agency-information-collection-activities-comment-request-for-td-8656-collection-requirements)
- [2025-08424 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2025-05-14/pdf/2025-08424.pdf)

## Related
- [Previous: 2025-08422, Filing of Surveys: Idaho](https://policyrisk.com/federal-register/2025-08422)
- [Next: 2025-08425, Superfund Tax on Chemical Substances; Request To Modify List of Taxable Substan…](https://policyrisk.com/federal-register/2025-08425)
- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2025-08424 (as of 2026-10-19).