Notice2021-15769
Proposed Collection; Comment Request for Information Collection Tools Relating to the Voluntary Disclosure Practice and the Streamlined Filing Compliance Procedures
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
July 26, 2021
Issuing agencies
Treasury DepartmentInternal Revenue Service
Abstract
The Internal Revenue Service published a document in the Federal Register on July 7, 2021, concerning requests for comments on the forms 14452, 14453, 14454, 14457, 14467, 14653, 14654, and 14708. The document was inadvertently titled Offshore Voluntary Disclosure Program (OVDP) and included forms that have been discontinued. Forms 14452, 14453, 14454, 144657, and 14708 are obsolete and no longer in use. The correct title is now Voluntary Disclosure Practice and the Streamlined Filing Compliance Procedures.
Full Text
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<title>Federal Register, Volume 86 Issue 140 (Monday, July 26, 2021)</title>
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[Federal Register Volume 86, Number 140 (Monday, July 26, 2021)]
[Notices]
[Pages 40138-40139]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-15769]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Information Collection
Tools Relating to the Voluntary Disclosure Practice and the Streamlined
Filing Compliance Procedures
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice; correction.
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SUMMARY: The Internal Revenue Service published a document in the
Federal Register on July 7, 2021, concerning requests for comments on
the forms 14452, 14453, 14454, 14457, 14467, 14653, 14654, and 14708.
The document was inadvertently titled Offshore Voluntary Disclosure
Program (OVDP) and included forms that have been discontinued. Forms
14452, 14453, 14454, 144657, and 14708 are obsolete and no longer in
use. The correct title is now Voluntary Disclosure Practice and the
Streamlined Filing Compliance Procedures.
DATES: Written comments should be received on or before September 24,
2021 to be assured of consideration.
ADDRESSES: Direct all written comments to Kinna Brewington, Internal
Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC
20224.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the form should be directed to Kerry Dennis, at (202) 317-
5751 or Internal Revenue Service, Room 6526, 1111 Constitution Avenue
NW, Washington, DC 20224, or through the internet, at
<a href="/cdn-cgi/l/email-protection#f8b39d8a8a81d6bc9d9696918bb8918a8bd69f978e"><span class="__cf_email__" data-cfemail="773c1205050e59331219191e04371e050459101801">[email protected]</span></a>.
SUPPLEMENTARY INFORMATION:
Title: Voluntary Disclosure Practice and the Streamlined Filing
Compliance Procedures.
OMB Number: 1545-2241.
Form Number(s): 14457, 14653, and 14654.
Abstract: The IRS offers two very different compliance paths to two
very different populations of taxpayers. First, the Voluntary
Disclosure Practice is a longstanding practice of IRS Criminal
Investigation (CI). CI takes timely, accurate, and complete voluntary
disclosures under consideration when determining whether to recommend
criminal prosecution. A voluntary
[[Page 40139]]
disclosure will not automatically guarantee immunity from prosecution;
however, a voluntary disclosure may result in prosecution not being
recommended. Form 14457 is used for all voluntary disclosures. Second,
the Streamlined Filing Compliance Procedures are available to eligible
taxpayers who can truthfully certify that their failure to report
foreign financial assets and pay all tax due in respect of those assets
resulted from non-willful conduct. Forms 14653 and 14654 relate to the
Streamlined Filing Compliance Procedures.
Current Actions: There is no change in the paperwork burden
previously approved by OMB procedure.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals or Households.
Estimated Number of Respondents: 16,000.
Estimated Time per Response: 25 hours, 38 min.
Estimated Total Annual Burden Hours: 410,000.
The following paragraph applies to all the collections of
information covered by this notice.
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless the collection of
information displays a valid OMB control number. Books or records
relating to a collection of information must be retained if their
contents may become material in the administration of any internal
revenue law. Generally, tax returns and tax return information are
confidential, as required by 26 U.S.C. 6103.
Request for Comments: Comments submitted in response to this notice
will be summarized and/or included in the request for OMB approval. All
comments will become a matter of public record. Comments are invited
on: (a) Whether the collection of information is necessary for the
proper performance of the functions of the agency, including whether
the information shall have practical utility; (b) the accuracy of the
agency's estimate of the burden of the collection of information; (c)
ways to enhance the quality, utility, and clarity of the information to
be collected; (d) ways to minimize the burden of the collection of
information on respondents, including through the use of automated
collection techniques or other forms of information technology; and (e)
estimates of capital or start-up costs and costs of operation,
maintenance, and purchase of services to provide information.
Approved: July 14, 2021.
Kerry L. Dennis,
Tax Analyst.
[FR Doc. 2021-15769 Filed 7-23-21; 8:45 am]
BILLING CODE 4830-01-P
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