Notice2022-17080
Proposed Collection; Comment Request for Employee Plans Compliance Resolution System
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
August 9, 2022
Issuing agencies
Treasury DepartmentInternal Revenue Service
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 continuing information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning the employee plans compliance resolution system.
Full Text
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<title>Federal Register, Volume 87 Issue 152 (Tuesday, August 9, 2022)</title>
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[Federal Register Volume 87, Number 152 (Tuesday, August 9, 2022)]
[Notices]
[Pages 48558-48559]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-17080]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Employee Plans
Compliance Resolution System
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
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SUMMARY: 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
continuing information collections, as required by the Paperwork
Reduction Act of 1995. The IRS is soliciting comments concerning the
employee plans compliance resolution system.
DATES: Written comments should be received on or before October 11,
2022 to be assured of consideration
ADDRESSES: Direct all written comments to Andres Garcia, Internal
Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC
20224, or by email to <a href="/cdn-cgi/l/email-protection#0c7c7e6d226f6361616962787f4c657e7f226b637a"><span class="__cf_email__" data-cfemail="addddfcc83cec2c0c0c8c3d9deedc4dfde83cac2db">[email protected]</span></a>. Include OMB control number
1545-1673 or Employee Plans Compliance Resolution System, in the
subject line of the message.
[[Page 48559]]
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the form should be directed to Kerry Dennis at (202) 317-
5751, or at Internal Revenue Service, Room 6526, 1111 Constitution
Avenue NW, Washington, DC 20224, or through the internet, at
<a href="/cdn-cgi/l/email-protection#6f240a1d1d164123412b0a0101061c2f061d1c41080019"><span class="__cf_email__" data-cfemail="f0bb95828289debcdeb4959e9e9983b0998283de979f86">[email protected]</span></a>.
SUPPLEMENTARY INFORMATION:
Title: Employee Plans Compliance Resolution System (EPCRS).
OMB Number: 1545-1673.
Regulation Project Number: RP 2021-30.
Form Number: Forms 8950, 8951, 14568, 14568-A thru I.
Abstract: The information requested in Revenue Procedure 2021-30 is
required to enable the Internal Revenue Service to make determinations
on the issuance of various types of closing agreements and compliance
statements. The issuance of the agreements and statements allow
individual plans to maintain their tax-qualified status. As a result,
the favorable tax treatment of the benefits of the eligible employees
is retained. Applicants under the Voluntary Correction Program (VCP)
must file Forms 8950 and 8951, and the appropriate scheduled(s) to the
applicable part of the model compliance statement, in order to request
written approval from the IRS for a correction of a qualified plan that
has failed to comply with the requirements of the Internal Revenue
Code.
Current Actions: There is no change to the paperwork burden
previously approved by OMB.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals and business or other for-profit
organizations, not-for profit institutions, and state, local or tribal
governments.
Estimated Number of Respondents: 15,375.
Estimated Time per Respondent: 12 hours, 25 minutes.
Estimated Total Annual Burden Hours: 190,941 hours.
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: August 3, 2022.
Kerry L. Dennis,
Tax Analyst.
[FR Doc. 2022-17080 Filed 8-8-22; 8:45 am]
BILLING CODE 4830-01-P
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