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	Modified
Form 14242 Form 14242 - Reporting Abusive Tax Promotions or Preparers Form and Instruction	Modified
30 day notice - 3-31-20.pdf Supplementary Document	2020-03-31
SUP STAT (Form 14242 and Form 14242(SP).doc Supporting Statement A	2020-01-09

IC Document Collections

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

ICR Details

OMB Control No: 1545-2219	ICR Reference No: 201912-1545-011
Status: Active	Previous ICR Reference No: 201507-1545-025
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: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 05/11/2020
	Date Received in OIRA: 03/31/2020
Terms of Clearance: OMB understands that the IRS is currently in the process of revising the methodology it uses to estimate burden and costs. OMB expects that future ICRs under this OMB control number will include dollar estimates of annual burden costs to taxpayers calculated using this revised methodology.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	05/31/2023	36 Months From Approved	05/31/2020
Responses	460	0	460
Time Burden (Hours)	77	0	77
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 preparers 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 preparers.

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Authorizing Statute(s): 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
   US Code: 26 USC 6700 Name of Law: Promoting abusive tax shelters, etc.
  

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:
	84 FR 25883	11/29/2019
30-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 17951	03/31/2020
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	460	0	0	0	0
Annual Time Burden (Hours)	77	77	0	0	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement:

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Annual Cost to Federal Government: $0

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

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     Yes

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     Yes

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Yes

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? No

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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: 03/31/2020

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