Proposed Extension of Information Collection Request Submitted for Public Comment; Comment Request on Burden Related to Form CT-1 and CT-1 X, 77341 [2020-26393]

Agencies

• Internal Revenue Service
• DEPARTMENT OF THE TREASURY

[Federal Register Volume 85, Number 231 (Tuesday, December 1, 2020)]
[Notices]
[Page 77341]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-26393]


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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 Form CT-1 and 
CT-1 X

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 Act of 1995. Currently, the IRS is soliciting comments 
concerning the burden associated with Form CT-1, Employer's Annual 
Railroad Retirement Tax Return and Form CT-1 X, Adjusted Employer's 
Annual Railroad Retirement Tax Return or Claim for Refund.

DATES: Written comments should be received on or before February 1, 
2021 to be assured of consideration.

ADDRESSES: Direct all written comments to Kinna Brewington, Internal 
Revenue Service, Room 6529, 1111 Constitution Avenue NW, Washington, DC 
20224. Requests for additional information or copies of the regulations 
should be directed to Ronald J. Durbala, at Internal Revenue Service, 
Room 6129, 1111 Constitution Avenue NW, Washington DC 20224, or through 
the internet, at [email protected].

SUPPLEMENTARY INFORMATION:
    Title: Railroad Retirement Tax Act (Form CT-1 and CT-1X).
    OMB Number: 1545-0001.
    Regulation Project Number: Form CT-1 and Form CT-1 X.
    Abstract: Railroad employers are required to file an annual return 
to report employer and employee Railroad Retirement Tax Act (RRTA) 
taxes. Form CT-1 is used for this purpose. The IRS uses the information 
to ensure that the employer has paid the correct tax. Form CT-1X is 
used to correct previously filed Forms CT-1.
    Current Actions: We have significantly revised the 2020 Form CT-1 
to allow for the reporting of new employment tax credits and the 
deferral of deposit and payment of certain taxes from the following 
provisions.
     Public Law 116-127: Section 7001, Payroll credit for 
required paid sick leave; Section 7003, Payroll credit for required 
family leave; and Section 7005, Wages paid by reason of the Emergency 
Paid Sick Leave Act and the Emergency Family and Medical Leave 
Expansion Act not considered compensation under section 3221(a)
     Public Law 116-136: Section 2301 Employee Retention 
Credit; and Section 2302, Delay of payment for employer payroll taxes.
    The changes to Form CT-1 will result in an estimated burden 
increase of 5,985 hours. This submission is for renewal purposes.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Businesses or other for-profit organizations, not-
for-profit institutions, and state, local or tribal governments.
    Estimated Number of Respondents: 2,400.
    Estimated Time per Respondent: 18 hrs., 56 min.
    Estimated Total Annual Burden Hours: 45,440.

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: November 24, 2020.
Ronald J. Durbala,
IRS Tax Analyst.
[FR Doc. 2020-26393 Filed 11-30-20; 8:45 am]
BILLING CODE 4830-01-P