Notice2024-24277
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
October 21, 2024
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 information collection requirements related to voluntary disclosure practice and the streamlined filing compliance procedures.
Full Text
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<title>Federal Register, Volume 89 Issue 203 (Monday, October 21, 2024)</title>
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[Federal Register Volume 89, Number 203 (Monday, October 21, 2024)]
[Notices]
[Pages 84252-84253]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-24277]
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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.
[[Page 84253]]
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
information collection requirements related to voluntary disclosure
practice and the streamlined filing compliance procedures.
DATES: Written comments should be received on or before December 20,
2024 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#8dfdffeca3eee2e0e0e8e3f9fecde4fffea3eae2fb"><span class="__cf_email__" data-cfemail="354547541b565a5858505b4146755c47461b525a43">[email protected]</span></a>. Include OMB control number
1545-2241 or Voluntary Disclosure Practice and the Streamlined Filing
Compliance Procedures, in the subject line.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the form(s) 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#206b455252590e6c0e64454e4e4953604952530e474f56"><span class="__cf_email__" data-cfemail="602b051212194e2c4e24050e0e0913200912134e070f16">[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, 14654 and 15023.
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 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. Form 15023 has been revised to be used as a
response to compliance alerts.
Current Actions: There are changes to the paperwork burden
previously approved by OMB. The agency has updated the number of
respondents/responses for Forms 14457, 14653, and 14654. Form 15023 has
been revised, but the changes do not affect burden and the estimated
number of respondents/responses will remain the same and will be re-
evaluated during the next revision cycle. The changes to the response
estimates result in an overall decrease of 1,478 responses and an
overall annual time burden of 61,496 hours.
Type of Review: Revision of a currently approved collection.
Affected Public: Individuals or Households.
Estimated Number of Respondents: 15,091.
Estimated Time per Response: 21 hours, 47 min.
Estimated Total Annual Burden Hours: 328,892 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: October 16, 2024.
Kerry L. Dennis,
Tax Analyst.
[FR Doc. 2024-24277 Filed 10-18-24; 8:45 am]
BILLING CODE 4830-01-P
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