Proposed Extension of Information Collection Request Submitted for Public Comment; Comment Request on Burden Related to Form 1099-PATR, 13994 [2025-05247]

Download as PDF 13994 Federal Register / Vol. 90, No. 58 / Thursday, March 27, 2025 / Notices DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Extension of Information Collection Request Submitted for Public Comment; Comment Request on Burden Related to Form 1099–PATR 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 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 related to Form 1099–PATR, ‘‘Taxable Distributions Received from Cooperatives’’. SUMMARY: Written comments should be received on or before May 27, 2025 to be assured of consideration. ADDRESSES: Written comments and recommendations for the proposed information collection should be sent within 60 days of publication of this notice to pra.comments@irs.gov. Please include, ‘‘OMB Number: 1545–0118— Public Comment Request Notice’’ in the Subject line. Requests for additional information or copies of this collection can be directed to Ronald J. Durbala, at RJoseph.Durbala@irs.gov. SUPPLEMENTARY INFORMATION: Title: Taxable Distributions Received from Cooperatives. OMB Number: 1545–0118. Project Number: Form 1099–PATR. Abstract: Form 1099–PATR is used to report patronage dividends paid by cooperatives in accordance with Internal Revenue Code section 6044. The information is used by IRS to verify reporting compliance on the part of the recipient. Current Actions: There are updates in the projections of reporting Form 1099– PATR. Type of Review: Revision of a currently approved collection. Affected Public: Businesses and other for-profit organizations. Estimated Number of Respondents: 1,615,000. Estimated Time per Respondent: 20 min. Estimated Total Annual Burden Hours: 549,100. The following paragraph applies to all the collections of information covered by this notice: lotter on DSK11XQN23PROD with NOTICES1 DATES: VerDate Sep<11>2014 17:43 Mar 26, 2025 Jkt 265001 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: March 24, 2025. Ronald J. Durbala, IRS Tax Analyst. [FR Doc. 2025–05247 Filed 3–26–25; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Regulation Project 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 SUMMARY: PO 00000 Frm 00143 Fmt 4703 Sfmt 4703 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 reporting requirements for widely held fixed investment trusts. DATES: Written comments should be received on or before May 27, 2025 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 number 1545– 1540 or Reporting Requirements for Widely Held Fixed Investment Trusts, in the subject line of the message. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the regulation should be directed to Kerry Dennis at (202) 317– 5751, or at Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224, or through the internet, at Kerry.L.Dennis@irs.gov. SUPPLEMENTARY INFORMATION: Title: Reporting Requirements for Widely Held Fixed Investment Trusts. OMB Number: 1545–1540. Regulation Project Number: TD 9308. Abstract: Under regulation section 1.671–5, the trustee or the middleman who holds an interest in a widely held fixed investment trust for an investor will be required to provide a Form 1099 to the IRS and a tax information statement to the investor. The trust is also required to provide more detailed tax information to middlemen and certain other persons, upon request. Current Actions: There are no changes to the paperwork burden previously approved by OMB. Type of Review: Extension of a currently approved collection. Affected Public: Businesses and other for-profit organizations. Estimated Number of Respondents: 1,200. Estimated Time per Respondent: 2 hours. Estimated Total Annual Burden Hours: 2,400. 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 E:\FR\FM\27MRN1.SGM 27MRN1

Agencies

[Federal Register Volume 90, Number 58 (Thursday, March 27, 2025)]
[Notices]
[Page 13994]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-05247]



[[Page 13994]]

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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 1099-PATR

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 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 related to Form 1099-PATR, ``Taxable 
Distributions Received from Cooperatives''.

DATES: Written comments should be received on or before May 27, 2025 to 
be assured of consideration.

ADDRESSES: Written comments and recommendations for the proposed 
information collection should be sent within 60 days of publication of 
this notice to [email protected]. Please include, ``OMB Number: 
1545-0118--Public Comment Request Notice'' in the Subject line. 
Requests for additional information or copies of this collection can be 
directed to Ronald J. Durbala, at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Taxable Distributions Received from Cooperatives.
    OMB Number: 1545-0118.
    Project Number: Form 1099-PATR.
    Abstract: Form 1099-PATR is used to report patronage dividends paid 
by cooperatives in accordance with Internal Revenue Code section 6044. 
The information is used by IRS to verify reporting compliance on the 
part of the recipient.
    Current Actions: There are updates in the projections of reporting 
Form 1099-PATR.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Businesses and other for-profit organizations.
    Estimated Number of Respondents: 1,615,000.
    Estimated Time per Respondent: 20 min.
    Estimated Total Annual Burden Hours: 549,100.
    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: March 24, 2025.
Ronald J. Durbala,
IRS Tax Analyst.
[FR Doc. 2025-05247 Filed 3-26-25; 8:45 am]
BILLING CODE 4830-01-P
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