[Federal Register Volume 89, Number 57 (Friday, March 22, 2024)]
[Notices]
[Page 20535]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-06057]


-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request on Information Collection 
for Compliance Assurance Process (CAP) Application and Associated Forms

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 Form 
14234, Compliance Assurance Process (CAP) Application and Sub-forms (A, 
B, C, D, E, F).

DATES: Written comments should be received on or before May 21, 2024 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 [email protected]. Include OMB control number 
1545-2312 or Comment Request on Information Collection for Compliance 
Assurance Process (CAP) Application and Associated Forms.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the forms should be directed to Jason Schoonmaker at (801) 
620-2128, or at Internal Revenue Service, Room 6526, 1111 Constitution 
Avenue NW, Washington, DC 20224, or through the internet, at 
[email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Compliance Assurance Process (CAP) Application and 
Associated Forms.
    OMB Number: 1545-2312.
    Form Numbers: 14234 and sub-forms A, B, C, D, E, F.
    Abstract: The Compliance Assurance Process (CAP) is strictly a 
voluntary program available to Large Business and International 
Division (LB&I) taxpayers that meet the selection criteria. CAP is a 
real-time review of completed business transactions during the CAP year 
with the goal of providing certainty of the tax return within 60 days 
of the filing. Taxpayers in CAP are required to be cooperative and 
transparent and report all material issues and items related to 
completed business transactions to the review team.
    Current Actions: There are two new forms being added to the 
Information Collection Request. Form 14234-E, Compliance Assurance 
Process (CAP) Cross Border Activities Questionnaire (CBAQ), is used by 
the IRS for risk assessment purposes to review a taxpayer's material 
cross border activities transactions (other than transfer pricing) in 
the CAP year. Form 14234-F Post-Filing Representation by Taxpayer 
requires that the corporate officer, authorized to sign the tax return 
of the CAP taxpayer, attest that all material issues from the pre-
filing review have been disclosed and resolved, and all resolved issues 
are reported as agreed on the company's tax return.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Businesses.
    Estimated Number of Respondents: 125.
    Estimated Number of Responses: 875.
    Estimated Time per Response: 5.35 hours.
    Estimated Total Annual Burden Hours: 4,680 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: March 18, 2024.
Jason M. Schoonmaker,
Tax Analyst.
[FR Doc. 2024-06057 Filed 3-21-24; 8:45 am]
BILLING CODE 4830-01-P