Proposed Collection; Comment Request for Information Collection Tools Relating to the Voluntary Disclosure Practice and the Streamlined Filing Compliance Procedures, 84252-84253 [2024-24277]

Agencies

• Internal Revenue Service
• DEPARTMENT OF THE TREASURY

[Federal Register Volume 89, Number 203 (Monday, October 21, 2024)]
[Notices]
[Pages 84252-84253]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[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 [email protected]. 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 
[email protected].

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