Notices. Notice and request for comments
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/register/2022/08/09/2022-17080A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
BILLING CODE 4910-22-P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Employee Plans Compliance Resolution System AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. 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 the employee plans compliance resolution system. DATES: Written comments should be received on or before October 11, 2022 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 *pra.comments@irs.gov* . Include OMB control number 1545-1673 or Employee Plans Compliance Resolution System, in the subject line of the message.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the form 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 *Kerry.L.Dennis@irs.gov* . SUPPLEMENTARY INFORMATION: *Title:* Employee Plans Compliance Resolution System (EPCRS). *OMB Number:* 1545-1673. *Regulation Project Number:* RP 2021-30. *Form Number:* Forms 8950, 8951, 14568, 14568-A thru I. *Abstract:* The information requested in Revenue Procedure 2021-30 is required to enable the Internal Revenue Service to make determinations on the issuance of various types of closing agreements and compliance statements. The issuance of the agreements and statements allow individual plans to maintain their tax-qualified status. As a result, the favorable tax treatment of the benefits of the eligible employees is retained. Applicants under the Voluntary Correction Program
(VCP)must file Forms 8950 and 8951, and the appropriate scheduled(s) to the applicable part of the model compliance statement, in order to request written approval from the IRS for a correction of a qualified plan that has failed to comply with the requirements of the Internal Revenue Code. *Current Actions:* There is no change to the paperwork burden previously approved by OMB. *Type of Review:* Extension of a currently approved collection. *Affected Public:* Individuals and business or other for-profit organizations, not-for profit institutions, and state, local or tribal governments. *Estimated Number of Respondents:* 15,375. *Estimated Time per Respondent:* 12 hours, 25 minutes. *Estimated Total Annual Burden Hours:* 190,941 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: August 3, 2022. Kerry L. Dennis, Tax Analyst. [FR Doc. 2022-17080 Filed 8-8-22; 8:45 am]
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