Revenue Procedure 2003-11, Offshore Voluntary Compliance Initiative

ICR 200905-1545-013

OMB: 1545-1822

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2009-05-14
Supplementary Document
2009-05-13
IC Document Collections
ICR Details
1545-1822 200905-1545-013
Historical Active 200604-1545-001
TREAS/IRS CB-1822-013
Revenue Procedure 2003-11, Offshore Voluntary Compliance Initiative
Extension without change of a currently approved collection   No
Regular
Approved without change 07/24/2009
Retrieve Notice of Action (NOA) 05/27/2009
  Inventory as of this Action Requested Previously Approved
07/31/2012 36 Months From Approved 07/31/2009
2,000 0 2,000
100,000 0 100,000
0 0 0

Revenue Procedure 2003-11 describes the Offshore Voluntary Compliance Initiative, which is directed at taxpayers that have under-reported their tax liability through financial arrangements outside the United States that rely on the use of credit, debit, or charge cards (offshore credit cards) or foreign banks, financial institutions, corporations, partnership, trusts, or other entities (offshore financial arrangements). Taxpayers that participate in the initiative and provide the information and material that their participation requires can avoid certain penalties.

US Code: 26 USC 6662 Name of Law: Imposition of accuracy-related penalty on underpayments
  
None

Not associated with rulemaking

  74 FR 10809 03/12/2009
74 FR 24900 05/26/2009
No

1
IC Title Form No. Form Name
Revenue Procedure 2003-11, Offshore Voluntary Compliance Initiative

  Total Approved Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 2,000 2,000 0 0 0 0
Annual Time Burden (Hours) 100,000 100,000 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$0
No
No
Uncollected
Uncollected
No
Uncollected
Stuart Spielman 202 622-3620 [email protected]

  No

On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
 
 
 
 
 
 
 
    (i) Why the information is being collected;
    (ii) Use of information;
    (iii) Burden estimate;
    (iv) Nature of response (voluntary, required for a benefit, or mandatory);
    (v) Nature and extent of confidentiality; and
    (vi) Need to display currently valid OMB control number;
 
 
 
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
05/27/2009


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