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[Federal Register Volume 89, Number 235 (Friday, December 6, 2024)]
[Notices]
[Pages 97169-97170]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-28578]

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DEPARTMENT OF THE TREASURY

Internal Revenue Service

Proposed Extension of Information Collection Request Submitted 
for Public Comment; Comment Request on Burden Related to Advanced 
Pricing Agreements

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Internal Revenue Service, as part of its continuing effort 
to reduce paperwork and respondent burden, invites the public and other 
Federal agencies to take this opportunity to comment on proposed and/or 
continuing information collections, as required by the Paperwork 
Reduction

[[Page 97170]]

Act of 1995. Currently, the IRS is soliciting comments concerning the 
burden for requesting and obtaining advance pricing agreements.

DATES: Written comments should be received on or before February 4, 
2025 to be assured of consideration.

ADDRESSES: Direct all written comments to Andr[eacute]s Garcia, 
Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, 
Washington, DC 20224, or by email to [email protected]. Please 
include, ``OMB Number: 1545-1503--Public Comment Request Notice'' in 
the Subject line.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the form and instructions should be directed to Ronald J. 
Durbala, at (202) 317-5746, at Internal Revenue Service, Room 6526, 
1111 Constitution Avenue NW, Washington, DC 20224, or through the 
internet at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Advance Pricing and Mutual Agreement Program.
    OMB Number: 1545-1503.
    Document Number: Rev. Proc. 2015-41.
    Abstract: The purpose of section 482 is to ensure that taxpayers 
clearly reflect income attributable to controlled transactions and to 
prevent the avoidance of taxes with respect to such transactions. 
Revenue Procedure 2015-41 provides guidance on the process of 
requesting and obtaining advance pricing agreements from the Advance 
Pricing and Mutual Agreement program (``APMA''). This revenue procedure 
also provides guidance on administration of an executed advance pricing 
agreement (APA).
    Current Actions: There are no changes being made to the forms at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations, 
individuals, or households.
    Estimated Number of Respondents: 390.
    Estimated Time per Respondent: 27 hrs., 57 min.
    Estimated Total Annual Burden Hours: 10,900.
    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.
    Desired Focus of Comments: The Internal Revenue Service (IRS) is 
particularly interested in comments that:
     Evaluate whether the proposed collection of information is 
necessary for the proper performance of the functions of the agency, 
including whether the information will have practical utility.
     Evaluate the accuracy of the agency's estimate of the 
burden of the proposed collection of information, including the 
validity of the methodology and assumptions used.
     Enhance the quality, utility, and clarity of the 
information to be collected; and
     Minimize the burden of the collection of information on 
those who are to respond, including using appropriate automated, 
electronic, mechanical, or other technological collection techniques or 
other forms of information technology, e.g., by permitting electronic 
submissions of responses.
    Comments submitted in response to this notice will be summarized 
and/or included in the ICR for OMB approval of the extension of the 
information collection; they will also become a matter of public 
record.

    Approved: December 3, 2024.
Ronald J. Durbala,
IRS Tax Analyst.
[FR Doc. 2024-28578 Filed 12-5-24; 8:45 am]
BILLING CODE 4830-01-P
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