Proposed Collection; Comment Request on Information Collection Tools Relating to the Offshore Voluntary Disclosure Program (OVDP), 47998-47999 [2015-19521]

Download as PDF 47998 Federal Register / Vol. 80, No. 153 / Monday, August 10, 2015 / Notices Internal Revenue Service Open Meeting of the Taxpayer Advocacy Panel Special Projects Committee Internal Revenue Service (IRS), Treasury. ACTION: Notice of meeting. AGENCY: An open meeting of the Taxpayer Advocacy Panel Special Projects Committee will be conducted. The Taxpayer Advocacy Panel is soliciting public comments, ideas, and suggestions on improving customer service at the Internal Revenue Service. DATES: The meeting will be held Thursday, September 3, 2015. FOR FURTHER INFORMATION CONTACT: Kim Vinci at 1–888–912–1227 or 916–974– 5086. SUMMARY: Notice is hereby given pursuant to Section 10(a)(2) of the Federal Advisory Committee Act, 5 U.S.C. App. (1988) that a meeting of the Taxpayer Advocacy Panel Special Projects Committee will be held Thursday, September 3, 2015, at 2:00 p.m. Eastern Time via teleconference. The public is invited to make oral comments or submit written statements for consideration. Due to limited conference lines, notification of intent to participate must be made with Kim Vinci. For more information please contact: Kim Vinci at 1–888–912–1227 or 916–974–5086, TAP Office, 4330 Watt Ave., Sacramento, CA 95821, or contact us at the Web site: http:// www.improveirs.org. The agenda will include a discussion on various special topics with IRS processes. SUPPLEMENTARY INFORMATION: Dated: August 3, 2015. Sheila Andrews, Director, Taxpayer Advocacy Panel. [FR Doc. 2015–19515 Filed 8–7–15; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY tkelley on DSK3SPTVN1PROD with NOTICES Internal Revenue Service Proposed Collection; Comment Request on Information Collection Tools Relating to the Offshore Voluntary Disclosure Program (OVDP) Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. AGENCY: VerDate Sep<11>2014 18:16 Aug 07, 2015 Jkt 235001 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 RJoseph.Durbala@irs.gov. 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 Nonfiler program. This program was developed specifically for US citizens SUMMARY: DEPARTMENT OF THE TREASURY PO 00000 Frm 00104 Fmt 4703 Sfmt 4703 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. E:\FR\FM\10AUN1.SGM 10AUN1 Federal Register / Vol. 80, No. 153 / Monday, August 10, 2015 / Notices 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 DEPARTMENT OF THE TREASURY Internal Revenue Service Open Meeting of the Taxpayer Advocacy Panel Notices and Correspondence Project Committee Internal Revenue Service (IRS) Treasury. ACTION: Notice of meeting. AGENCY: An open meeting of the Taxpayer Advocacy Panel Notices and Correspondence Project Committee will be conducted. The Taxpayer Advocacy Panel is soliciting public comments, ideas, and suggestions on improving customer service at the Internal Revenue Service. DATES: The meeting will be held Thursday, September 10, 2015. FOR FURTHER INFORMATION CONTACT: Theresa Singleton at 1–888–912–1227 or 202–317–3329. SUPPLEMENTARY INFORMATION: Notice is hereby given pursuant to Section 10(a)(2) of the Federal Advisory Committee Act, 5 U.S.C. App. (1988) that a meeting of the Taxpayer Advocacy Panel Notices and Correspondence Project Committee will tkelley on DSK3SPTVN1PROD with NOTICES SUMMARY: VerDate Sep<11>2014 18:16 Aug 07, 2015 Jkt 235001 be held Thursday, September 10, 2015, at 12:00 p.m. Eastern Time via teleconference. The public is invited to make oral comments or submit written statements for consideration. Due to limited conference lines, notification of intent to participate must be made with Theresa Singleton. For more information please contact: Theresa Singleton at 1–888–912–1227 or 202– 317–3329, TAP Office, 1111 Constitution Avenue NW., Room 1509National Office, Washington, DC 20224, or contact us at the Web site: http:// www.improveirs.org. The agenda will include a discussion on various letters, and other issues related to written communications from the IRS. Dated: August 3, 2015. Sheila Andrews, Director, Taxpayer Advocacy Panel. [FR Doc. 2015–19518 Filed 8–7–15; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Open Meeting of the Taxpayer Advocacy Panel Joint Committee Internal Revenue Service (IRS) Treasury. ACTION: Notice of meeting. AGENCY: An open meeting of the Taxpayer Advocacy Panel Joint SUMMARY: PO 00000 Frm 00105 Fmt 4703 Sfmt 9990 47999 Committee will be conducted. The Taxpayer Advocacy Panel is soliciting public comments, ideas, and suggestions on improving customer service at the Internal Revenue Service. The meeting will be held Wednesday, September 30, 2015. DATES: FOR FURTHER INFORMATION CONTACT: Lisa Billups at 1–888–912–1227 or (214) 413–6523. Notice is hereby given pursuant to Section 10(a)(2) of the Federal Advisory Committee Act, 5 U.S.C. App. (1988) that an open meeting of the Taxpayer Advocacy Panel Joint Committee will be held Wednesday, September 30, 2015, at 1:00 p.m. Eastern Time via teleconference. The public is invited to make oral comments or submit written statements for consideration. For more information please contact Lisa Billups at 1–888–912–1227 or 214–413–6523, or write TAP Office 1114 Commerce Street, Dallas, TX 75242–1021, or post comments to the Web site: http:// www.improveirs.org. The agenda will include various committee issues for submission to the IRS and other TAP related topics. Public input is welcomed. SUPPLEMENTARY INFORMATION: Dated: August 3, 2015. Sheila Andrews, Director, Taxpayer Advocacy Panel. [FR Doc. 2015–19513 Filed 8–7–15; 8:45 am] BILLING CODE 4830–01–P E:\FR\FM\10AUN1.SGM 10AUN1

Agencies

[Federal Register Volume 80, Number 153 (Monday, August 10, 2015)]
[Notices]
[Pages 47998-47999]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-19521]


-----------------------------------------------------------------------

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.

-----------------------------------------------------------------------

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 
RJoseph.Durbala@irs.gov.

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