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Start Preamble
AGENCY:
Internal Revenue Service (IRS), Treasury.
ACTION:
Notice and request for comments.
SUMMARY:
The Internal Revenue Service (IRS), 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 information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning Generation-Skipping Transfer Tax Return For Terminations.
DATES:
Written comments should be received on or before September 13, 2022 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 omb.unit@irs.gov . Include “OMB Number 1545-1145-Generation-Skipping Transfer Tax Return For Terminations” in the subject line of the message.
Start Further InfoFOR FURTHER INFORMATION CONTACT:
Requests for additional information or copies of this collection should be directed to Martha R. Brinson, at (202)317-5753, or at Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224, or through the internet at Martha.R.Brinson@irs.gov .
End Further Info End Preamble Start Supplemental InformationSUPPLEMENTARY INFORMATION:
Title: Generation-Skipping Transfer Tax Return For Terminations.
OMB Number: 1545-1145.
Form Number: 706-GS(T).
Abstract: Form 706-GS(T) is used by trustees to compute and report the tax due on generation-skipping transfers that result from the termination of interests in a trust. The IRS uses the information to verify that the tax has been properly computed.
Current Actions: There are no changes being made to the form at this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals or households.
Estimated Number of Respondents: 500.
Estimated Number of Responses: 1 hour, 22 minutes.
Estimated Total Annual Burden Hours: 684 hours.
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. Comments will be 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 has 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, Start Printed Page 42547 and clarity of the information to be collected; (d)ways to minimize the burden of the collection of information on 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.
Start SignatureApproved: July 11, 2022.
Martha R. Brinson,
Tax Analyst.
[FR Doc. 2022-15182 Filed 7-14-22; 8:45 am]
BILLING CODE 4830-01-P
Document Information
- Published:
- 07/15/2022
- Department:
- Internal Revenue Service
- Entry Type:
- Notice
- Action:
- Notice and request for comments.
- Document Number:
- 2022-15182
- Dates:
- Written comments should be received on or before September 13, 2022 to be assured of consideration.
- Pages:
- 42546-42547 (2 pages)
- PDF File:
- 2022-15182.pdf