Proposed Collection; Comment Request for Regulation Project, 13994-13995 [2025-05248]
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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:
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DATES:
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17:43 Mar 26, 2025
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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:
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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
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Federal Register / Vol. 90, No. 58 / Thursday, March 27, 2025 / Notices
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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
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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
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13995
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: March 21, 2025.
Kerry L. Dennis
Tax Analyst.
[FR Doc. 2025–05248 Filed 3–26–25; 8:45 am]
BILLING CODE 4830–01–P
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]]>Agencies
[Federal Register Volume 90, Number 58 (Thursday, March 27, 2025)]
[Notices]
[Pages 13994-13995]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-05248]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Regulation Project
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
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 [email protected]. 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
[email protected].
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
[[Page 13995]]
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: March 21, 2025.
Kerry L. Dennis
Tax Analyst.
[FR Doc. 2025-05248 Filed 3-26-25; 8:45 am]
BILLING CODE 4830-01-P
