Proposed Collection; Comment Request for Proceeds From Broker and Barter Exchange Transactions, Form 1099-B, 43648 [2020-15440]

Download as PDF 43648 Federal Register / Vol. 85, No. 138 / Friday, July 17, 2020 / Notices Number of participants Total burden hours Form name National Survey ................................ National Survey ................................ Community Survey ........................... Community Survey ........................... Screening ......................................... Online Survey ................................... Screening ......................................... Online Survey ................................... 1 1 1 1 2 15 3 15 3,400 3,100 1,600 1,200 113 775 80 300 Total ........................................... ........................................................... ........................ ........................ ........................ 1,268 Estimated Annualized Burden Hours: 1,268 hours. Public Comments Invited: You are asked to comment on any aspects of this information collection, including (a) whether the proposed collection of information is necessary for the proper performance of the functions of the Department, including whether the information will have practical utility; (b) the accuracy of the Department’s estimate of the burden of the proposed information collection; (c) ways to enhance the quality, utility and clarity of the information to be collected; and (d) ways to minimize the burden of the collection of information on respondents, including the use of automated collection techniques or other forms of information technology. Authority: The Paperwork Reduction Act of 1995; 44 U.S.C. Chapter 35, as amended; 49 CFR 1.49; and DOT Order 1351.29. Issued in Washington, DC. Nanda Narayanan Srinivasan, Associate Administrator, Research and Program Development. [FR Doc. 2020–15445 Filed 7–16–20; 8:45 am] BILLING CODE 4910–59–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Proceeds From Broker and Barter Exchange Transactions, Form 1099–B Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. AGENCY: 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 proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995. Currently, the IRS is soliciting comments concerning Form 1099–B, SUMMARY: khammond on DSKJM1Z7X2PROD with NOTICES Estimated burden per response (min.) Number of responses per participant Participant group VerDate Sep<11>2014 18:12 Jul 16, 2020 Jkt 250001 Proceeds From Broker and Barter Exchange Transactions. DATES: Written comments should be received on or before September 15, 2020 to be assured of consideration. ADDRESSES: Direct all written comments to Kinna Brewington, Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224. Requests for additional information or copies of the form and instructions should be directed to LaNita Van Dyke, at Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224 or through the internet at Lanita.VanDyke@irs.gov. SUPPLEMENTARY INFORMATION: Title: Proceeds From Broker and Barter Exchange Transactions. OMB Number: 1545–0715. Form Number: Form 1099–B. Abstract: Internal Revenue Code section 6045 requires the filing of an information return by brokers to report the gross proceeds from transactions and by barter exchanges to report exchanges of property or services. Form 1099–B is used to report proceeds from these transactions to the Internal Revenue Service. Current Actions: There are no changes in the paperwork burden previously approved by OMB. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations and individuals. Estimated Number of Responses: 1,434,809,803. Estimated Time per Response: 47 minutes. Estimated Total Annual Burden Hours: 674,360,608. 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. PO 00000 Frm 00117 Fmt 4703 Sfmt 4703 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: July 6, 2020. Chakinna B. Clemons, Supervisory Tax Analyst. [FR Doc. 2020–15440 Filed 7–16–20; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Taxpayer Statement Regarding Refund Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. AGENCY: The Internal Revenue Service (IRS), in accordance with the Paperwork Reduction Act of 1995 (PRA 95), provides the general public and Federal agencies with an opportunity to comment on continuing collections of information. This helps the IRS assess the impact of its information collection requirements and minimize the reporting burden on the public and helps the public understand the IRS’s information collection requirements and provide the requested data in the SUMMARY: E:\FR\FM\17JYN1.SGM 17JYN1

Agencies

[Federal Register Volume 85, Number 138 (Friday, July 17, 2020)]
[Notices]
[Page 43648]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-15440]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Proceeds From Broker and 
Barter Exchange Transactions, Form 1099-B

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 
proposed and/or continuing information collections, as required by the 
Paperwork Reduction Act of 1995. Currently, the IRS is soliciting 
comments concerning Form 1099-B, Proceeds From Broker and Barter 
Exchange Transactions.

DATES: Written comments should be received on or before September 15, 
2020 to be assured of consideration.

ADDRESSES: Direct all written comments to Kinna Brewington, Internal 
Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 
20224. Requests for additional information or copies of the form and 
instructions should be directed to LaNita Van Dyke, at Internal Revenue 
Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224 
or through the internet at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Proceeds From Broker and Barter Exchange Transactions.
    OMB Number: 1545-0715.
    Form Number: Form 1099-B.
    Abstract: Internal Revenue Code section 6045 requires the filing of 
an information return by brokers to report the gross proceeds from 
transactions and by barter exchanges to report exchanges of property or 
services. Form 1099-B is used to report proceeds from these 
transactions to the Internal Revenue Service. Current Actions: There 
are no changes in the paperwork burden previously approved by OMB.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations and 
individuals.
    Estimated Number of Responses: 1,434,809,803.
    Estimated Time per Response: 47 minutes.
    Estimated Total Annual Burden Hours: 674,360,608.
    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: July 6, 2020.
Chakinna B. Clemons,
Supervisory Tax Analyst.
[FR Doc. 2020-15440 Filed 7-16-20; 8:45 am]
BILLING CODE 4830-01-P