Form 14234,Compliance Assurance Process (CAP) Application and Sub Forms:14234-A, 14234-B, 14234-C, 14234-D)

Forms and Documents

Document Name	Status
Form 14234 Compliance Assurance Process (CAP) Application and (Sub-forms A, B, C, D) Form	New
Suppt Stmnt _1545-xxxx.f-14234-MS-sc.docx Supporting Statement A	2023-07-06

IC Document Collections

IC ID	Document Title	Status
258273	Compliance Assurance Process (CAP) Application and (Sub-forms A, B, C, D) Form	New

ICR Details

OMB Control No:	ICR Reference No: 202302-1545-004
Status: Received in OIRA	Previous ICR Reference No:
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Form 14234,Compliance Assurance Process (CAP) Application and Sub Forms:14234-A, 14234-B, 14234-C, 14234-D)
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  Yes
Type of Review Request: Regular	Date Submitted to OIRA: 07/20/2023

	Requested	Previously Approved
Expiration Date	36 Months From Approved
Responses	125	0
Time Burden (Hours)	1,584	0
Cost Burden (Dollars)	0	0

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Abstract: Form 14234, Compliance Assurance Process (CAP) Application 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 90 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.

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Authorizing Statute(s): US Code: 26 USC 6011 Name of Law: General requirement of return, statement or list.;
  

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:
	87 FR 62184	10/13/2022
30-day Notice:	Federal Register Citation:	Citation Date:
	88 FR 44462	07/12/2023
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Compliance Assurance Process (CAP) Application and (Sub-forms A, B, C, D)	14234, 14234 -A, 14234-b, 14234-C, 14234-D	Compliance Assurance Process (CAP) Application ,   Compliance Assurance Process (CAP) ,   Material Intercompany Transactions Template (MITT) ,   Taxpayer Initial Issues List ,   Tax Control Framework Questionnaire

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ICR Summary of Burden

	Total Request	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	125	0	0	0	125	0
Annual Time Burden (Hours)	1,584	0	0	0	1,584	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: Request for New OMB Control number to remove Form 14234 series from 1545-1800.

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Annual Cost to Federal Government: $13,002

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.     No

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.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

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:  Yes

Description/Changes for Common Form Usage: 

Approved RCFs using this ICR

Agency/Sub Agency	RCF ID	RCF Title	RCF Status	IC Title

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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: 07/20/2023

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