Proposed Collection; Comment Request for Forms 706 and Schedule R-1 (Form 706), 43943-43944 [2020-15584]

Download as PDF Federal Register / Vol. 85, No. 139 / Monday, July 20, 2020 / Notices (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 7, 2020. Chakinna B. Clemons, Supervisory Tax Analyst. Form 2848 [FR Doc. 2020–15572 Filed 7–17–20; 8:45 am] DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request Concerning Representation of Taxpayers Before the Internal Revenue Service 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 continuing information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning representation of taxpayers before the Internal Revenue Service. DATES: Written comments should be received on or before September 18, 2020 to be assured of consideration. ADDRESSES: Direct all written comments to Chakinna B. Clemons, 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 should be directed to Kerry Dennis, at (202) 317–5751 or Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224, or through the internet, at Kerry.Dennis@irs.gov. SUPPLEMENTARY INFORMATION: Title: Representation of taxpayers before the Internal Revenue Service. SUMMARY: 18:30 Jul 17, 2020 Jkt 250001 Form 2848 (SP) Estimated Number of Respondents: 80,000. Estimated Time per Respondent: 2.26 hours. Estimated Total Annual Burden Hours: 180,800 hours. 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. 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 PO 00000 Frm 00138 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 14, 2020. Chakinna B. Clemons, Supervisory Tax Analyst. [FR Doc. 2020–15573 Filed 7–17–20; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Forms 706 and Schedule R–1 (Form 706) Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. AGENCY: Estimated Number of Respondents: 458,333. Estimated Time per Respondent: 1.99 hours. Estimated Total Annual Burden Hours: 912,083 hours. BILLING CODE 4830–01–P VerDate Sep<11>2014 OMB Number: 1545–0150. Form Number: 2848 and 2848 (SP). Abstract: Form 2848 or Form 2848(SP) is issued to authorize someone to act for the taxpayer in tax matters. It grants all powers that the taxpayer has except signing a return and cashing refund checks. The information on the form is used to identify representatives and to ensure that confidential information is not divulged to unauthorized persons. 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: Individuals or households, business or other for-profit organizations, not-for-profit institutions, and farms. 43943 Fmt 4703 Sfmt 4703 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. The IRS is soliciting comments concerning Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return and Schedule R–1 (Form 706), Generation-Skipping Transfer Tax. DATES: Written comments should be received on or before September 18, 2020 to be assured of consideration. ADDRESSES: Direct all written comments to Paul Adams, 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 the internet at Sara.L.Covington@irs.gov. SUPPLEMENTARY INFORMATION: Title: United States Estate (and Generation-Skipping Transfer) Tax Return. OMB Number: 1545–0015. Forms Number: 706 and Schedule R– 1 (Form 706). Abstract: Form 706 is used by executors to report and compute the Federal estate tax imposed by Internal Revenue Code section 2001 and the Federal generation-skipping transfer (GST) tax imposed by Code section SUMMARY: E:\FR\FM\20JYN1.SGM 20JYN1 43944 Federal Register / Vol. 85, No. 139 / Monday, July 20, 2020 / Notices 2601. The IRS uses the information on the form to enforce the estate and GST tax provisions of the Code and to verify that the taxes have been properly computed. Schedule R–1 (Form 706) serves as a payment voucher for the Generation-Skipping Transfer (GST)tax imposed on a direct skip from a trust, which the trustee of the trust, must pay. Current Actions: Prior to this revision, Schedule R–1 and its instructions were embedded in Form 706. However, Schedule R–1 and its instructions were removed, to create a separate hybrid form for Schedule R–1 and its instructions. There are changes in the paperwork burden previously approved by OMB, due to the reduction in filers based on the most recent filing data. Type of Review: Revision of a currently approved collection. Affected Public: Individuals or households and business or other forprofit organizations. Estimated Number of Responses: 30,729. Estimated Time per Respondents: 36.50. Estimated Total Annual Burden Hours: 1,121,903. 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. VerDate Sep<11>2014 18:30 Jul 17, 2020 Jkt 250001 Approved: July 14, 2020. Sara L. Covington, IRS Tax Analyst. [FR Doc. 2020–15584 Filed 7–17–20; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Office of The Secretary List of Countries Requiring Cooperation With an International Boycott In accordance with section 999(a)(3) of the Internal Revenue Code of 1986, the Department of the Treasury is publishing a current list of countries which require or may require participation in, or cooperation with, an international boycott (within the meaning of section 999(b)(3) of the Internal Revenue Code of 1986). On the basis of the best information currently available to the Department of the Treasury, the following countries require or may require participation in, or cooperation with, an international boycott (within the meaning of section 999(b)(3) of the Internal Revenue Code of 1986). Iraq Kuwait Lebanon Libya Qatar Saudi Arabia Syria United Arab Emirates Yemen Douglas Poms, International Tax Counsel, Tax Policy. [FR Doc. 2020–15621 Filed 7–17–20; 8:45 am] BILLING CODE 4810–25–P DEPARTMENT OF THE TREASURY Debt Management Advisory Committee Meeting Notice is hereby given, pursuant to 5 U.S.C. App. 2, § 10(a)(2), that a meeting will take place via conference call on Tuesday, August 4, 2020 at 12:00 p.m. of the following debt management advisory committee: Treasury Borrowing Advisory Committee of the Securities Industry and Financial Markets Association. At this meeting, the Treasury is seeking advice from the Committee on topics related to the economy, financial markets, Treasury financing, and debt management. Following the working session, the Committee will present a written report of its recommendations. The meeting will be closed to the PO 00000 Frm 00139 Fmt 4703 Sfmt 9990 public, pursuant to 5 U.S.C. App. 2, § 10(d) and Public Law 103–202, 202(c)(1)(B) (31 U.S.C. 3121 note). This notice shall constitute my determination, pursuant to the authority placed in heads of agencies by 5 U.S.C. App. 2, 10(d) and vested in me by Treasury Department Order No. 101–05, that the meeting will consist of discussions and debates of the issues presented to the Committee by the Secretary of the Treasury and the making of recommendations of the Committee to the Secretary, pursuant to Public Law 103–202, 202(c)(1)(B). Thus, this information is exempt from disclosure under that provision and 5 U.S.C. 552b(c)(3)(B). In addition, the meeting is concerned with information that is exempt from disclosure under 5 U.S.C. 552b(c)(9)(A). The public interest requires that such meetings be closed to the public because the Treasury Department requires frank and full advice from representatives of the financial community prior to making its final decisions on major financing operations. Historically, this advice has been offered by debt management advisory committees established by the several major segments of the financial community. When so utilized, such a committee is recognized to be an advisory committee under 5 U.S.C. App. 2, § 3. Although the Treasury’s final announcement of financing plans may not reflect the recommendations provided in reports of the Committee, premature disclosure of the Committee’s deliberations and reports would be likely to lead to significant financial speculation in the securities market. Thus, this meeting falls within the exemption covered by 5 U.S.C. 552b(c)(9)(A). The Office of Debt Management is responsible for maintaining records of debt management advisory committee meetings and for providing annual reports setting forth a summary of Committee activities and such other matters as may be informative to the public consistent with the policy of 5 U.S.C. 552(b). The Designated Federal Officer or other responsible agency official who may be contacted for additional information is Fred Pietrangeli, Director for Office of Debt Management (202) 622–1876. Dated: July 14, 2020. Frederick E. Pietrangeli, Director (for Office of Debt Management). [FR Doc. 2020–15578 Filed 7–17–20; 8:45 am] BILLING CODE 4810–25–P E:\FR\FM\20JYN1.SGM 20JYN1

Agencies

[Federal Register Volume 85, Number 139 (Monday, July 20, 2020)]
[Notices]
[Pages 43943-43944]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-15584]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Forms 706 and Schedule 
R-1 (Form 706)

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

-----------------------------------------------------------------------

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. The IRS is soliciting comments 
concerning Form 706, United States Estate (and Generation-Skipping 
Transfer) Tax Return and Schedule R-1 (Form 706), Generation-Skipping 
Transfer Tax.

DATES: Written comments should be received on or before September 18, 
2020 to be assured of consideration.

ADDRESSES: Direct all written comments to Paul Adams, 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 the internet at 
[email protected].

SUPPLEMENTARY INFORMATION: 
    Title: United States Estate (and Generation-Skipping Transfer) Tax 
Return.
    OMB Number: 1545-0015.
    Forms Number: 706 and Schedule R-1 (Form 706).
    Abstract: Form 706 is used by executors to report and compute the 
Federal estate tax imposed by Internal Revenue Code section 2001 and 
the Federal generation-skipping transfer (GST) tax imposed by Code 
section

[[Page 43944]]

2601. The IRS uses the information on the form to enforce the estate 
and GST tax provisions of the Code and to verify that the taxes have 
been properly computed. Schedule R-1 (Form 706) serves as a payment 
voucher for the Generation-Skipping Transfer (GST)tax imposed on a 
direct skip from a trust, which the trustee of the trust, must pay.
    Current Actions: Prior to this revision, Schedule R-1 and its 
instructions were embedded in Form 706. However, Schedule R-1 and its 
instructions were removed, to create a separate hybrid form for 
Schedule R-1 and its instructions. There are changes in the paperwork 
burden previously approved by OMB, due to the reduction in filers based 
on the most recent filing data.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Individuals or households and business or other 
for-profit organizations.
    Estimated Number of Responses: 30,729.
    Estimated Time per Respondents: 36.50.
    Estimated Total Annual Burden Hours: 1,121,903.
    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 14, 2020.
Sara L. Covington,
IRS Tax Analyst.
[FR Doc. 2020-15584 Filed 7-17-20; 8:45 am]
BILLING CODE 4830-01-P