83 FR 8734 - 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 83, Issue 40 (February 28, 2018)

The Internal Revenue Service (IRS), 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 information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning the Offshore Voluntary Disclosure Program (OVDP).

[Federal Register Volume 83, Number 40 (Wednesday, February 28, 2018)]
[Notices]
[Pages 8734-8735]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-04095]


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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 Internal Revenue Service (IRS), 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 information collections, as required by the Paperwork Reduction Act 
of 1995. The IRS is soliciting comments concerning the Offshore 
Voluntary Disclosure Program (OVDP).

DATES: Written comments should be received on or before April 30, 2018 
to be assured of consideration.

ADDRESSES: Direct all written comments to L. Brimmer, Internal Revenue 
Service, Room 6526, 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 Martha R. Brinson, 
at (202) 317-5753 or at Internal Revenue Service, Room 6526, 1111 
Constitution Avenue NW, Washington, DC 20224, 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, 14708, 15023.
    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. Form 
15023 is part of the Decline and Withdrawal Campaign, related to 
Offshore Voluntary Disclosure Program (OVDI) taxpayers.
    Current Actions: There is no change in the paperwork burden 
previously approved by OMB.
    Type of Review: Extension of currently approved collection.
    Affected Public: Individuals or households.
    Estimated Number of Responses: 474,569.
    Estimated Time per Respondent: 1 hour 35 mins.
    Estimated Total Annual Burden Hours: 758,138.
    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

[[Page 8735]]

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: February 23, 2018.
L. Brimmer,
Senior Tax Analyst.
[FR Doc. 2018-04095 Filed 2-27-18; 8:45 am]
 BILLING CODE 4830-01-P