Notice2024-13589
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Compliance Assurance Process (CAP) Application and Associated Forms
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
June 21, 2024
Issuing agencies
Treasury Department
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 Form 14234, Compliance Assurance Process (CAP) Application and Sub-forms (A, B, C, D, E, F).
Full Text
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<title>Federal Register, Volume 89 Issue 120 (Friday, June 21, 2024)</title>
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[Federal Register Volume 89, Number 120 (Friday, June 21, 2024)]
[Notices]
[Page 52218]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-13589]
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DEPARTMENT OF THE TREASURY
Agency Information Collection Activities; Submission for OMB
Review; Comment Request; Compliance Assurance Process (CAP) Application
and Associated Forms
AGENCY: Departmental Offices, Department of the Treasury.
ACTION: Notice.
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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 Form
14234, Compliance Assurance Process (CAP) Application and Sub-forms (A,
B, C, D, E, F).
DATES: Comments should be received on or before July 22, 2024 to be
assured of consideration.
ADDRESSES: Written comments and recommendations for the proposed
information collection should be sent within 30 days of publication of
this notice to <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a>. Find this particular
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.
FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be
obtained from Melody Braswell by emailing <a href="/cdn-cgi/l/email-protection#7424263534000611150701060d5a131b02"><span class="__cf_email__" data-cfemail="88d8dac9c8fcfaede9fbfdfaf1a6efe7fe">[email protected]</span></a>, calling
(202) 622-1035, or viewing the entire information collection request at
<a href="http://www.reginfo.gov">www.reginfo.gov</a>.
SUPPLEMENTARY INFORMATION:
Internal Revenue Service (IRS)
Title: Compliance Assurance Process (CAP) Application and
Associated Forms.
OMB Number: 1545-2312.
Form Numbers: 14234 and sub-forms A, B, C, D, E, F.
Abstract: The Compliance Assurance Process (CAP) is strictly a
voluntary program available to Large Business and International
Division (LB&I) taxpayers that meet the selection criteria. CAP is a
real-time review of completed business transactions during the CAP year
with the goal of providing certainty of the tax return within 60 days
of the filing. Taxpayers in CAP are required to be cooperative and
transparent and report all material issues and items related to
completed business transactions to the review team.
Current Actions: There are two new forms being added to the
Information Collection Request. Form 14234-E, Compliance Assurance
Process (CAP) Cross Border Activities Questionnaire (CBAQ), is used by
the IRS for risk assessment purposes to review a taxpayer's material
cross border activities transactions (other than transfer pricing) in
the CAP year. Form 14234-F Post-Filing Representation by Taxpayer
requires that the corporate officer, authorized to sign the tax return
of the CAP taxpayer, attest that all material issues from the pre-
filing review have been disclosed and resolved, and all resolved issues
are reported as agreed on the company's tax return.
Type of Review: Revision of a currently approved collection.
Affected Public: Businesses.
Estimated Number of Respondents: 125.
Estimated Number of Responses: 875.
Estimated Time per Response: 5.35 hours.
Estimated Total Annual Burden Hours: 4,680 hours.
Authority: 44 U.S.C. 3501 et seq.
Melody Braswell,
Treasury PRA Clearance Officer.
[FR Doc. 2024-13589 Filed 6-20-24; 8:45 am]
BILLING CODE 4830-01-P
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