Proposed Collection; Comment Request for Form 4970, 3852 [2019-02118]

Agencies

• Internal Revenue Service
• DEPARTMENT OF THE TREASURY

[Federal Register Volume 84, Number 30 (Wednesday, February 13, 2019)]
[Notices]
[Page 3852]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-02118]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 4970

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 general public 
and other Federal agencies to take this opportunity to comment on 
collections, as required by the Paperwork Reduction Act of 1995. The 
IRS is soliciting comments concerning Form 4970, Tax on Accumulation 
Distributions of Trusts.

DATES: Written comments should be received on or April 15, 2019 to be 
assured of consideration.

ADDRESSES: Direct all written comments to Laurie Brimmer, Internal 
Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 
20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the form and instructions should be directed to Sara 
Covington, (202) 317-6038, at Internal Revenue Service, Room 6526, 1111 
Constitution Avenue NW, Washington, DC 20224, or through the internet 
at Sara.L.Covington@irs.gov.

SUPPLEMENTARY INFORMATION:
    Title: Tax on Accumulation Distribution of Trusts.
    OMB Number: 1545-0192.
    Form Number: 4970.
    Abstract: Internal Revenue Code 667 requires a tax to be paid by a 
beneficiary of domestic or foreign trust on accumulation distributions. 
Form 4970 is used to compute the tax adjustment attributable to an 
accumulation distribution and to verify whether the correct tax has 
been paid on the accumulation distribution.
    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: 30,000.
    Estimated Time per Response: 1 hour, 25 minutes.
    Estimated Total Annual Burden Hours: 42,900.
    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. 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: February 7, 2019.
Laurie Brimmer,
Senior Tax Analyst.
[FR Doc. 2019-02118 Filed 2-12-19; 8:45 am]
BILLING CODE 4830-01-P