We commend the issuance of the Proposed Regulations and guidance provided relating to the failure to maintain a list of advisees with respect to reportable transactions. We respectfully offer for your consideration the following suggested changes:

• Exclude the language in Prop. Treas. Reg. § 301.6708-1(b)(3), which permits the IRS to leave a written request for a Section 6112 list at the last and usual place of abode or usual place of business of the person required to maintain the list; 

• Revise the language in subsection (b) of the Proposed Regulations to require that, in situations where the IRS mails a request for a Section 6112 list, the notice state the date of mailing and to provide that the 20-day period begins to run from the later of three days after the stated date of mailing by the IRS or the date of actual delivery by the U.S. Post Office if the recipient can establish that delivery occurred at a later date. 

• Clarify that all issues pertaining to the applicability and amount of the penalty arc subject to administrative review by an IRS Appeals office ; 

• Clarify how the Proposed Regulations apply to Jaw firms, accounting firms and other entities comprised of individual advisors; and 

• Clarify certain aspects of reasonable compliance procedures establishing reasonable cause.