[Federal Register Volume 78, Number 37 (Monday, February 25, 2013)]
[Notices]
[Page 12830]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-04177]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 14420

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Department of the Treasury, 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 proposed and/or continuing information collections, as required by 
the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning 
Form 14420, Verification of Reported Income.

DATES: Written comments should be received on or before April 26, 2013 
to be assured of consideration.

ADDRESSES: Direct all written comments to Yvette Lawrence, Internal 
Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the form and instructions should be directed to Martha R. 
Brinson, (202) 622-3869, at Internal Revenue Service, Room 6129, 1111 
Constitution Avenue NW., Washington, DC 20224, or through the internet 
at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Verification of Reported Income.
    OMB Number: 1545-2236.
    Form Number: Form 14420.
    Abstract: The Pilots are aimed at determining the best method for 
and value of using the new Form 1099-K information to identify and 
treat non-compliance. This is expected to result in the identification 
of many new cases of gross receipts underreporting. As a result, this 
effort will also test new treatment streams to allow the IRS to work 
these cases. One of these treatment streams is a new notice process. 
Requesting the books and records needed to verify the gross receipts 
discrepancy through a notice process would result in extensive taxpayer 
burden. Instead, the taxpayer can fill out this form, which requests 
the minimum information needed for us to refine our analysis of the 
taxpayer's return and determine if there are any reporting errors/
business characteristics that may explain their outlier reported 
figures.
    Current Actions: There are no changes being made to this form at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses and other for-profit organizations, 
Individuals or Households.
    Estimated Number of Respondents: 5,600.
    Estimated Time per Respondent: 4 hours.
    Estimated Total Annual Burden Hours: 22,400.
    The following paragraph applies to all of 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 as long as 
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: February 19, 2013.
Yvette Lawrence,
IRS Reports Clearance Officer.
[FR Doc. 2013-04177 Filed 2-22-13; 8:45 am]
BILLING CODE 4830-01-P