80_FR_48151 80 FR 47998 - Proposed Collection; Comment Request on Information Collection Tools Relating to the Offshore Voluntary Disclosure Program (OVDP)

80 FR 47998 - Proposed Collection; Comment Request on Information Collection Tools Relating to the Offshore Voluntary Disclosure Program (OVDP)

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 80, Issue 153 (August 10, 2015)

Page Range47998-47999
FR Document2015-19521

The Department of the Treasury, 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 proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104-13(44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning the Offshore Voluntary Disclosure Program (OVDP).

Federal Register, Volume 80 Issue 153 (Monday, August 10, 2015) 
[Federal Register Volume 80, Number 153 (Monday, August 10, 2015)]
[Notices]
[Pages 47998-47999]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-19521]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request on Information Collection 
Tools Relating to the Offshore Voluntary Disclosure Program (OVDP)

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Department of the Treasury, 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 proposed and/or continuing information collections, as required by 
the Paperwork Reduction Act of 1995, Public Law 104-13(44 U.S.C. 
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning 
the Offshore Voluntary Disclosure Program (OVDP).

DATES: Written comments should be received on or before October 9, 2015 
to be assured of consideration.

ADDRESSES: Direct all written comments to Christie Preston, Internal 
Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, 
DC 20224. Please send separate comments for each specific information 
collection listed below. You must reference the information 
collection's title, form number, reporting or record-keeping 
requirement number, and OMB number (if any) in your comment.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the collection tools should be directed to R. Joseph Durbala, 
Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., 
Washington, DC 20224, or at (202)317-5746, or through the internet at 
[email protected].

SUPPLEMENTARY INFORMATION: Currently, the IRS is seeking comments 
concerning the following information collection tools, reporting, and 
record-keeping requirements:
    Title: Offshore Voluntary Disclosure Program (OVDP).
    OMB Number: 1545-2241.
    Form Number(s): 14452, 14453, 14454, 14457, 14467, 14653, 14654, 
and 14708.
    Abstract: The IRS is offering people with undisclosed income from 
offshore accounts an opportunity to get current with their tax returns. 
Taxpayers with undisclosed foreign accounts or entities should make a 
voluntary disclosure because it enables them to become compliant, avoid 
substantial civil penalties and generally eliminate the risk of 
criminal prosecution. The objective is to bring taxpayers that have 
used undisclosed foreign accounts and undisclosed foreign entities to 
avoid or evade tax into compliance with United States tax laws.
    Current Actions: In September 2012, the IRS announced a new 
offshore initiative entitled the Streamlined Non-filer program. This 
program was developed specifically for US citizens with income solely 
from non-us sources. Although this program was successful at closing 
the non-filer loop, this program did not allow for amended returns to 
be filed reporting previously unreported foreign sourced income. As a 
result, an enhanced process was developed in which taxpayers will be 
allowed to file amended returns in order to report previously 
unreported foreign source income while allowing a relief from 
penalties.
    Forms 14653, 14654, and the new Form 14708 have replaced the need 
for Form 14438. The net result is a burden increase of 15,500 estimated 
responses and 30,500 estimated annual hours per year.
    Type of Review: Revision of currently approved collection.
    Affected Public: Individuals or households.
    Estimated Number of Responses: 474,000.
    Estimated Time per Respondent: 1 hour 40 mins.
    Estimated Total Annual Burden Hours: 757,000.
    The following paragraph applies to all of 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 as long as 
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.


[[Page 47999]]


    Approved: August 3, 2015.
R. Joseph Durbala,
IRS Reports Clearance Officer.
[FR Doc. 2015-19521 Filed 8-7-15; 8:45 am]
 BILLING CODE 4830-01-P

47998 Federal Register / Vol. 80, No. 153 / Monday, August 10, 2015 / Notices DEPARTMENT OF THE TREASURY SUMMARY: The Department of the with income solely from non-us sources. Treasury, as part of its continuing effort Although this program was successful at Internal Revenue Service to reduce paperwork and respondent closing the non-filer loop, this program burden, invites the general public and did not allow for amended returns to be Open Meeting of the Taxpayer other Federal agencies to take this filed reporting previously unreported Advocacy Panel Special Projects opportunity to comment on proposed foreign sourced income. As a result, an Committee and/or continuing information enhanced process was developed in AGENCY: Internal Revenue Service (IRS), collections, as required by the which taxpayers will be allowed to file Treasury. Paperwork Reduction Act of 1995, amended returns in order to report Public Law 104–13(44 U.S.C. previously unreported foreign source ACTION: Notice of meeting. 3506(c)(2)(A)). Currently, the IRS is income while allowing a relief from soliciting comments concerning the penalties. SUMMARY: An open meeting of the Offshore Voluntary Disclosure Program Forms 14653, 14654, and the new Taxpayer Advocacy Panel Special (OVDP). Form 14708 have replaced the need for Projects Committee will be conducted. The Taxpayer Advocacy Panel is DATES: Written comments should be Form 14438. The net result is a burden soliciting public comments, ideas, and received on or before October 9, 2015 to increase of 15,500 estimated responses suggestions on improving customer be assured of consideration. and 30,500 estimated annual hours per service at the Internal Revenue Service. ADDRESSES: Direct all written comments year. to Christie Preston, Internal Revenue Type of Review: Revision of currently DATES: The meeting will be held Service, Room 6129, 1111 Constitution approved collection. Thursday, September 3, 2015. Avenue NW., Washington, DC 20224. Affected Public: Individuals or FOR FURTHER INFORMATION CONTACT: Kim Please send separate comments for each households. Vinci at 1–888–912–1227 or 916–974– specific information collection listed Estimated Number of Responses: 5086. below. You must reference the 474,000. SUPPLEMENTARY INFORMATION: Notice is information collection’s title, form Estimated Time per Respondent: 1 hereby given pursuant to Section number, reporting or record-keeping hour 40 mins. 10(a)(2) of the Federal Advisory requirement number, and OMB number Estimated Total Annual Burden Committee Act, 5 U.S.C. App. (1988) (if any) in your comment. Hours: 757,000. that a meeting of the Taxpayer FOR FURTHER INFORMATION CONTACT: The following paragraph applies to all Advocacy Panel Special Projects Requests for additional information or of the collections of information covered Committee will be held Thursday, copies of the collection tools should be by this notice: September 3, 2015, at 2:00 p.m. Eastern directed to R. Joseph Durbala, Internal Time via teleconference. The public is Revenue Service, Room 6129, 1111 An agency may not conduct or invited to make oral comments or Constitution Avenue NW., Washington, sponsor, and a person is not required to submit written statements for DC 20224, or at (202)317–5746, or respond to, a collection of information consideration. Due to limited through the internet at unless the collection of information conference lines, notification of intent RJoseph.Durbala@irs.gov. displays a valid OMB control number. to participate must be made with Kim Books or records relating to a collection SUPPLEMENTARY INFORMATION: Currently, Vinci. For more information please of information must be retained as long the IRS is seeking comments concerning contact: Kim Vinci at 1–888–912–1227 as their contents may become material the following information collection or 916–974–5086, TAP Office, 4330 in the administration of any internal tools, reporting, and record-keeping Watt Ave., Sacramento, CA 95821, or revenue law. Generally, tax returns and requirements: contact us at the Web site: http:// Title: Offshore Voluntary Disclosure tax return information are confidential, www.improveirs.org. Program (OVDP). as required by 26 U.S.C. 6103. The agenda will include a discussion OMB Number: 1545–2241. Request for Comments: Comments on various special topics with IRS Form Number(s): 14452, 14453, submitted in response to this notice will processes. 14454, 14457, 14467, 14653, 14654, and be summarized and/or included in the 14708. request for OMB approval. All Dated: August 3, 2015. Abstract: The IRS is offering people comments will become a matter of Sheila Andrews, with undisclosed income from offshore public record. Comments are invited on: Director, Taxpayer Advocacy Panel. accounts an opportunity to get current (a) Whether the collection of [FR Doc. 2015–19515 Filed 8–7–15; 8:45 am] with their tax returns. Taxpayers with information is necessary for the proper BILLING CODE 4830–01–P undisclosed foreign accounts or entities performance of the functions of the should make a voluntary disclosure agency, including whether the because it enables them to become information shall have practical utility; DEPARTMENT OF THE TREASURY compliant, avoid substantial civil (b) the accuracy of the agency’s estimate penalties and generally eliminate the of the burden of the collection of Internal Revenue Service risk of criminal prosecution. The information; (c) ways to enhance the objective is to bring taxpayers that have quality, utility, and clarity of the Proposed Collection; Comment used undisclosed foreign accounts and information to be collected; (d) ways to Request on Information Collection undisclosed foreign entities to avoid or minimize the burden of the collection of Tools Relating to the Offshore tkelley on DSK3SPTVN1PROD with NOTICES evade tax into compliance with United information on respondents, including Voluntary Disclosure Program (OVDP) States tax laws. through the use of automated collection AGENCY: Internal Revenue Service (IRS), Current Actions: In September 2012, techniques or other forms of information Treasury. the IRS announced a new offshore technology; and (e) estimates of capital initiative entitled the Streamlined Non- or start-up costs and costs of operation, ACTION: Notice and request for filer program. This program was maintenance, and purchase of services comments. developed specifically for US citizens to provide information. VerDate Sep<11>2014 18:16 Aug 07, 2015 Jkt 235001 PO 00000 Frm 00104 Fmt 4703 Sfmt 4703 E:\FR\FM\10AUN1.SGM 10AUN1

Federal Register / Vol. 80, No. 153 / Monday, August 10, 2015 / Notices 47999 Approved: August 3, 2015. be held Thursday, September 10, 2015, Committee will be conducted. The R. Joseph Durbala, at 12:00 p.m. Eastern Time via Taxpayer Advocacy Panel is soliciting IRS Reports Clearance Officer. teleconference. The public is invited to public comments, ideas, and [FR Doc. 2015–19521 Filed 8–7–15; 8:45 am] make oral comments or submit written suggestions on improving customer BILLING CODE 4830–01–P statements for consideration. Due to service at the Internal Revenue Service. limited conference lines, notification of The meeting will be held DATES: intent to participate must be made with Wednesday, September 30, 2015. DEPARTMENT OF THE TREASURY Theresa Singleton. For more information please contact: Theresa FOR FURTHER INFORMATION CONTACT: Lisa Internal Revenue Service Singleton at 1–888–912–1227 or 202– Billups at 1–888–912–1227 or (214) 317–3329, TAP Office, 1111 413–6523. Open Meeting of the Taxpayer Constitution Avenue NW., Room 1509- Advocacy Panel Notices and SUPPLEMENTARY INFORMATION: Notice is National Office, Washington, DC 20224, hereby given pursuant to Section Correspondence Project Committee or contact us at the Web site: http:// 10(a)(2) of the Federal Advisory AGENCY: Internal Revenue Service (IRS) www.improveirs.org. Committee Act, 5 U.S.C. App. (1988) Treasury. The agenda will include a discussion that an open meeting of the Taxpayer ACTION: Notice of meeting. on various letters, and other issues Advocacy Panel Joint Committee will be related to written communications from held Wednesday, September 30, 2015, at SUMMARY: An open meeting of the the IRS. 1:00 p.m. Eastern Time via Taxpayer Advocacy Panel Notices and Dated: August 3, 2015. teleconference. The public is invited to Correspondence Project Committee will Sheila Andrews, make oral comments or submit written be conducted. The Taxpayer Advocacy statements for consideration. For more Director, Taxpayer Advocacy Panel. Panel is soliciting public comments, information please contact Lisa Billups [FR Doc. 2015–19518 Filed 8–7–15; 8:45 am] ideas, and suggestions on improving at 1–888–912–1227 or 214–413–6523, or BILLING CODE 4830–01–P customer service at the Internal Revenue write TAP Office 1114 Commerce Street, Service. Dallas, TX 75242–1021, or post DATES: The meeting will be held comments to the Web site: http:// DEPARTMENT OF THE TREASURY Thursday, September 10, 2015. www.improveirs.org. FOR FURTHER INFORMATION CONTACT: Internal Revenue Service The agenda will include various Theresa Singleton at 1–888–912–1227 or committee issues for submission to the 202–317–3329. Open Meeting of the Taxpayer Advocacy Panel Joint Committee IRS and other TAP related topics. Public SUPPLEMENTARY INFORMATION: Notice is input is welcomed. hereby given pursuant to Section AGENCY: Internal Revenue Service (IRS) 10(a)(2) of the Federal Advisory Dated: August 3, 2015. Treasury. Committee Act, 5 U.S.C. App. (1988) Sheila Andrews, ACTION: Notice of meeting. that a meeting of the Taxpayer Director, Taxpayer Advocacy Panel. Advocacy Panel Notices and SUMMARY: An open meeting of the [FR Doc. 2015–19513 Filed 8–7–15; 8:45 am] Correspondence Project Committee will Taxpayer Advocacy Panel Joint BILLING CODE 4830–01–P tkelley on DSK3SPTVN1PROD with NOTICES VerDate Sep<11>2014 18:16 Aug 07, 2015 Jkt 235001 PO 00000 Frm 00105 Fmt 4703 Sfmt 9990 E:\FR\FM\10AUN1.SGM 10AUN1


Document Created: 2015-12-15 12:11:45
Document Modified: 2015-12-15 12:11:45
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
ActionNotice and request for comments.
DatesWritten comments should be received on or before October 9, 2015 to be assured of consideration.
ContactRequests for additional information or copies of the collection tools should be directed to R. Joseph Durbala, Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224, or at (202)317-5746, or through the internet at [email protected]
FR Citation80 FR 47998 
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