Agency Collection Activities; Burden Related to Information Reporting for Certain Life Insurance Contract Transactions, 81989-81990 [2024-23394]
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Federal Register / Vol. 89, No. 196 / Wednesday, October 9, 2024 / Notices
be conducted. The Taxpayer Advocacy
Panel is soliciting public comments,
ideas, and suggestions on improving
customer service at the Internal Revenue
Service. This meeting will be held via
teleconference.
The meeting will be held
Thursday, November 14, 2024.
DATES:
Ann
Tabat at 1–888–912–1227 or (602) 636–
9143.
FOR FURTHER INFORMATION CONTACT:
Notice is
hereby given pursuant to section
10(a)(2) of the Federal Advisory
Committee Act, 5 U.S.C. app. (1988) that
a meeting of the Taxpayer Advocacy
Panel’s Tax Forms and Publications
Project Committee will be held
Thursday, November 14, 2024, at 2:30
p.m. Eastern Time. The public is invited
to make oral comments or submit
written statements for consideration.
Due to limited time and structure of
meeting, notification of intent to
participate must be made with Ann
Tabat. For more information, please
contact Ann Tabat at 1–888–912–1227
or (602) 636–9143, or write TAP Office,
4041 N. Central Ave Phoenix, AZ 85012
or contact us at the website: https://
www.improveirs.org. The agenda will
include TAP 2024 committee project
focus areas.
SUPPLEMENTARY INFORMATION:
Dated: October 1, 2024.
Shawn Collins,
Director, Taxpayer Advocacy Panel.
[FR Doc. 2024–23310 Filed 10–8–24; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Agency Collection Activities;
Requesting Comments on Form 8892
Internal Revenue Service (IRS),
Treasury.
AGENCY:
Notice and request for
comments.
ACTION:
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 8892,
Application for Automatic Extension of
Time to File Form 709 or Form 709–NA
and/or Payment of Gift/GenerationSkipping Transfer Tax.
khammond on DSKJM1Z7X2PROD with NOTICES
SUMMARY:
VerDate Sep<11>2014
17:05 Oct 08, 2024
Jkt 265001
Written comments should be
received on or before December 9, 2024
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 pra.comments@irs.gov.
Include OMB Control No. 1545–1913 in
the subject line of the message.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of this collection should be
directed to Jason Schoonmaker, (801)
620–2128, at Internal Revenue Service,
Room 6526, 1111 Constitution Avenue
NW, Washington, DC 20224, or through
the internet at jason.m.schoonmaker@
irs.gov.
DATES:
The IRS is
currently seeking comments concerning
the following information collection
tools, reporting, and record-keeping
requirements:
Title: Application for Automatic
Extension of Time To File Form 709 or
Form 709–NA and/or Payment of Gift/
Generation-Skipping Transfer Tax.
OMB Number: 1545–1913.
Form Number: Form 8892.
Abstract: Form 8892 was created to
serve a dual purpose. First, the form
enables the taxpayers to request an
automatic 6-month extension of time to
file Form 709 or Form 709–NA when
they are not filing an individual income
tax extension using Form 4868. Second,
to make a payment of gift tax when
you’re applying for an extension of time
to file Form 709 or 709–NA (including
payment of any generation-skipping
transfer (GST) tax from Form 709 or
709–NA).
Current Actions: The title of the form
is changing. There are no changes to the
response time for completing the form.
The IRS is adjusting the burden
estimates to increase the number of
potential respondents to 300.
Type of Review: Revision of a
currently approved collection.
Affected Public: Individuals or
households.
Estimated Number of Respondents:
300.
Estimated Time per Respondent: 41
minutes.
Estimated Total Annual Burden
Hours: 204.
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
SUPPLEMENTARY INFORMATION:
PO 00000
Frm 00110
Fmt 4703
Sfmt 4703
81989
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: October 3, 2024.
Jason M. Schoonmaker,
Tax Analyst.
[FR Doc. 2024–23295 Filed 10–8–24; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Agency Collection Activities; Burden
Related to Information Reporting for
Certain Life Insurance Contract
Transactions
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. The IRS is soliciting
comments concerning the burden
related to the information reporting for
certain life insurance contract
transactions.
DATES: Written comments should be
received on or before December 9, 2024
to be assured of consideration.
ADDRESSES: Direct all written comments
to Andres Garcia, Internal Revenue
SUMMARY:
E:\FR\FM\09OCN1.SGM
09OCN1
81990
Federal Register / Vol. 89, No. 196 / Wednesday, October 9, 2024 / Notices
Service, Room 6526, 1111 Constitution
Avenue NW, Washington, DC 20224, or
by email to pra.comments@irs.gov.
Include OMB Control No. 1545–2281 in
the subject line of the message.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of this collection should be
directed to Jason Schoonmaker, (801)
620–2128, at Internal Revenue Service,
Room 6526, 1111 Constitution Avenue
NW, Washington, DC 20224, or through
the internet at jason.m.schoonmaker@
irs.gov.
The IRS is
currently seeking comments concerning
the following information collection
tools, reporting, and record-keeping
requirements:
Title: Information Reporting for
Certain Life Insurance Contract
Transactions.
OMB Number: 1545–2281.
Form Number: Forms 1099–LS and
1099–SB.
Abstract: The collection covers the
information reporting requirements for
certain life insurance contracts under
IRC 6050Y, which was added by the Tax
Cuts and Jobs Act (TCJA). Form 1099–
LS is used by the acquirer of any
interest in a life insurance contract (also
known as a life insurance policy) in a
reportable policy sale to report the
acquisition. Form 1099–SB is used by
the issuer of a life insurance contract
(also known as a life insurance policy)
to report the seller’s investment in the
contract and surrender amount with
respect to an interest in a life insurance
contract transferred in a ‘‘reportable
policy sale’’ or transferred to a foreign
person.
Current Actions: There is no change to
the burden previously approved.
Type of Review: Extension of a
currently approved collection.
Affected Public: Businesses or other
for-profits.
Estimated Number of Responses:
13,100.
Estimated Time per Respondent: 7
min.
Estimated Total Annual Burden
Hours: 1,572.
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
khammond on DSKJM1Z7X2PROD with NOTICES
SUPPLEMENTARY INFORMATION:
VerDate Sep<11>2014
17:05 Oct 08, 2024
Jkt 265001
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.
Dated: October 4, 2024.
Jason M. Schoonmaker,
Tax Analyst.
invited to make oral comments or
submit written statements for
consideration. Due to limited time and
structure of meeting, notification of
intent to participate must be made with
Robert Rosalia. For more information,
please contact Robert Rosalia at 1–888–
912–1227 or (718) 834–2203, or write
TAP Office, 2 Metrotech Center, 100
Myrtle Avenue, Brooklyn, NY 11201 or
contact us at the website: https://
www.improveirs.org. The agenda will
include TAP 2024 committee project
focus areas.
Dated: October 1, 2024.
Shawn Collins,
Director, Taxpayer Advocacy Panel.
[FR Doc. 2024–23307 Filed 10–8–24; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Open meeting of the Taxpayer
Advocacy Panel’s Toll-Free Phone
Lines Project Committee
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice of meeting.
AGENCY:
[FR Doc. 2024–23394 Filed 10–8–24; 8:45 am]
BILLING CODE 4830–01–P
An open meeting of the
Taxpayer Advocacy Panel’s Toll-Free
Phone Lines Project Committee will be
conducted. The Taxpayer Advocacy
Panel is soliciting public comments,
ideas, and suggestions on improving
customer service at the Internal Revenue
Service. This meeting will be held via
teleconference.
DATES: The meeting will be held
Thursday, November 14, 2024.
FOR FURTHER INFORMATION CONTACT:
Kelvin Johnson at 1–888–912–1227 or
504–202–9679.
SUPPLEMENTARY INFORMATION: Notice is
hereby given pursuant to Section
10(a)(2) of the Federal Advisory
Committee Act, 5 U.S.C. App. (1988)
that an open meeting of the Taxpayer
Advocacy Panel Toll-Free Phone Lines
Project Committee will be held
Thursday, November 14, 2024, at 4:00
p.m. Eastern Time. The public is invited
to make oral comments or submit
written statements for consideration.
Due to limited time and structure of
meeting, notification of intent to
participate must be made with Kelvin
Johnson. For more information, please
contact Kelvin Johnson at 1–888–912–
1227 or 504–202–9679, or write TAP
Office, 1555 Poydras Street, Suite 12
New Orleans, LA 70112 or contact us at
the website: https://www.improveirs.org.
The agenda will include TAP 2024
committee project focus areas.
SUMMARY:
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Open Meeting of the Taxpayer
Advocacy Panel’s Notices and
Correspondence Project Committee
Internal Revenue Service (IRS)
Treasury.
ACTION: Notice of meeting.
AGENCY:
An open meeting of the
Taxpayer Advocacy Panel’s Notices and
Correspondence Project Committee will
be conducted. The Taxpayer Advocacy
Panel is soliciting public comments,
ideas, and suggestions on improving
customer service at the Internal Revenue
Service. This meeting will be held via
teleconference.
DATES: The meeting will be held
Tuesday, November 12, 2024.
FOR FURTHER INFORMATION CONTACT:
Robert Rosalia at 1–888–912–1227 or
(718) 834–2203.
SUPPLEMENTARY INFORMATION: Notice is
hereby given pursuant to section
10(a)(2) of the Federal Advisory
Committee Act, 5 U.S.C. app. (1988) that
an open meeting of the Taxpayer
Advocacy Panel’s Notices and
Correspondence Project Committee will
be held Tuesday, November 12, 2024, at
11:00 a.m. Eastern Time. The public is
SUMMARY:
PO 00000
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Fmt 4703
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]]>Agencies
[Federal Register Volume 89, Number 196 (Wednesday, October 9, 2024)]
[Notices]
[Pages 81989-81990]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-23394]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Agency Collection Activities; Burden Related to Information
Reporting for Certain Life Insurance Contract Transactions
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 the burden related to the information reporting for certain
life insurance contract transactions.
DATES: Written comments should be received on or before December 9,
2024 to be assured of consideration.
ADDRESSES: Direct all written comments to Andres Garcia, Internal
Revenue
[[Page 81990]]
Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224,
or by email to [email protected]. Include OMB Control No. 1545-2281
in the subject line of the message.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of this collection should be directed to Jason Schoonmaker,
(801) 620-2128, at Internal Revenue Service, Room 6526, 1111
Constitution Avenue NW, Washington, DC 20224, or through the internet
at [email protected].
SUPPLEMENTARY INFORMATION: The IRS is currently seeking comments
concerning the following information collection tools, reporting, and
record-keeping requirements:
Title: Information Reporting for Certain Life Insurance Contract
Transactions.
OMB Number: 1545-2281.
Form Number: Forms 1099-LS and 1099-SB.
Abstract: The collection covers the information reporting
requirements for certain life insurance contracts under IRC 6050Y,
which was added by the Tax Cuts and Jobs Act (TCJA). Form 1099-LS is
used by the acquirer of any interest in a life insurance contract (also
known as a life insurance policy) in a reportable policy sale to report
the acquisition. Form 1099-SB is used by the issuer of a life insurance
contract (also known as a life insurance policy) to report the seller's
investment in the contract and surrender amount with respect to an
interest in a life insurance contract transferred in a ``reportable
policy sale'' or transferred to a foreign person.
Current Actions: There is no change to the burden previously
approved.
Type of Review: Extension of a currently approved collection.
Affected Public: Businesses or other for-profits.
Estimated Number of Responses: 13,100.
Estimated Time per Respondent: 7 min.
Estimated Total Annual Burden Hours: 1,572.
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.
Dated: October 4, 2024.
Jason M. Schoonmaker,
Tax Analyst.
[FR Doc. 2024-23394 Filed 10-8-24; 8:45 am]
BILLING CODE 4830-01-P
