OMB.report

Federal forms, ICRs, and supporting documents

Information Collection Request

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

ICR 201507-1545-025 · OMB 1545-2219 · Historical Active

Forms and Documents
DocumentTypeStatusAvailability
Form 14242 (SP) Form 14242 (SP) - Informe las Presuntas Promociones de Planes Form and Instruction New Available
Form 14242 Form 14242 - Reporting Abusive Tax Promotions or Preparers Form and Instruction Modified Repair queued
ombat2.doc Supplementary Document Uploaded 2015-09-17 Available
Supporting Statement.doc Supporting Statement A Uploaded 2016-11-21 Available
IC Document Collections
IC IDCollectionTypeStatusForm
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
1545-2219 201507-1545-025
Historical Active 201202-1545-003
TREAS/IRS
Form 14242 - Reporting Abusive Tax Promotions or Preparer's, & Form 14242 (SP) - Informe las Presuntas Promociones de Planes
Reinstatement with change of a previously approved collection   No
Regular
Approved without change 03/18/2017
Retrieve Notice of Action (NOA) 11/30/2016
  Inventory as of this Action Requested Previously Approved
03/31/2020 36 Months From Approved
460 0 0
77 0 0
0 0 0
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.
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
  
None
Not associated with rulemaking
  80 FR 52540 08/31/2015
81 FR 86380 11/30/2016
No
  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
Yes
Miscellaneous Actions
Yes
Miscellaneous Actions
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 .
$0
No
No
No
No
No
Uncollected
Portia Powell-Stringer 651 312-2251
  No
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:
 
 
 
 
 
 
 
    (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;
 
 
 
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.
11/30/2016