Form 14242 - Reporting Abusive Tax Promotions or Preparer's, & Form 14242 (SP) - Informe las Presuntas Promociones de Planes

Forms and Documents

Document Name	Status
Form 14242 (SP) Form 14242 (SP) - Informe las Presuntas Promociones de Planes Form and Instruction	New
Form 14242 Form 14242 - Reporting Abusive Tax Promotions or Preparers Form and Instruction	Modified
ombat2.doc Supplementary Document	2015-09-17
Supporting Statement.doc Supporting Statement A	2016-11-21

IC Document Collections

IC ID	Document Title	Status
217594	Form 14242 (SP) - Informe las Presuntas Promociones de Planes Form and Instruction	New
199681	Form 14242 - Reporting Abusive Tax Promotions or Preparers Form and Instruction	Modified

ICR Details

OMB Control No: 1545-2219	ICR Reference No: 201507-1545-025
Status: Historical Active	Previous ICR Reference No: 201202-1545-003
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Form 14242 - Reporting Abusive Tax Promotions or Preparer's, & Form 14242 (SP) - Informe las Presuntas Promociones de Planes
Type of Information Collection: Reinstatement with change of a previously approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 03/18/2017
	Date Received in OIRA: 11/30/2016
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2020	36 Months From Approved
Responses	460	0	0
Time Burden (Hours)	77	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: Form 14242 and Form 14242 (SP) are both used to report an abusive tax avoidance scheme and tax return preparer's who promote such schemes (Form 14242 (SP) is the Spanish translation of Form 14242) . The information is collected to combat abusive tax promoters. Respondents can be individuals, businesses and tax return preparer's.

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Authorizing Statute(s): US Code: 26 USC 6700 Name of Law: Promoting abusive tax shelters, etc.
   US Code: 26 USC 6701 Name of Law: Penalties for aiding and abetting understatement of tax liability
   US Code: 26 USC 7408 Name of Law: Actions to enjoin specified conduct related to tax shelters and reportable transactions
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	80 FR 52540	08/31/2015
30-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 86380	11/30/2016
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
Form 14242 (SP) - Informe las Presuntas Promociones de Planes	14242 (SP)	Informe las Presuntas Promociones de Planes
Form 14242 - Reporting Abusive Tax Promotions or Preparers	14242	Report Suspected Abusive Tax Promotions or Preparers

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ICR Summary of Burden

	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	460	0	0	100	0	360
Annual Time Burden (Hours)	77	0	0	17	-3,540	3,600
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: The agency is updating this collection to include new Form 14242 SP. Form 14242 SP is the Spanish translation of Form 14242 and increases the burden by 100 respondents and 17 hours. However, by making a correction to Form 14242's previously reported estimate, the time to complete the form is now correctly reported as 10 minutes versus 10 hours, which results in an overall decrease in estimated burden by 3,523 hours. There were no changes made to Form 14242 that would affect burden, just a correction to a clerical error in the previous submission .

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 11/30/2016

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