80 FR 117 pgs. 34961-34962 - Proposed Collection; Comment Request for Form 712
Type: NOTICEVolume: 80Number: 117Pages: 34961 - 34962
Pages: 34961, 34962FR document: [FR Doc. 2015-15049 Filed 6-17-15; 8:45 am]
Agency: Treasury Department
Sub Agency: Internal Revenue Service
Official PDF Version: PDF Version
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Form 712
AGENCY:
Internal Revenue Service (IRS), Treasury.
ACTION:
Notice and request for comments.
SUMMARY:
The Department of the Treasury, 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, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning Form 712, Life Insurance Statement.
DATES:
Written comments should be received on or before August 17, 2015 to be assured of consideration.
ADDRESSES:
Direct all written comments to Christie Preston, Internal Revenue Service, Room 6129, 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 R. Joseph Durbala at (202) 317-5746, Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224 or through the internet at RJoseph.Durbala@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Life Insurance Statement.
OMB Number: 1545-0022.
Form Number: 712.
Abstract: Form 712 provides taxpayers and the IRS with information to determine if insurance on the decedent's life is includible in the gross estate and to determine the value of the policy for estate and gift tax purposes. The tax is based on the value of the life insurance policy.
Current Actions: There are no changes being made to Form 712 at this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Businesses or other for-profit organizations.
Estimated Number of Responses: 60,000.
Estimated Time Per Response: 18 hrs. 40 minutes.
Estimated Total Annual Burden Hours: 1,120,200.
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.
[top] 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
Approved: June 8, 2015.
Christie Preston,
IRS, Reports Clearance Officer.
[FR Doc. 2015-15049 Filed 6-17-15; 8:45 am]
BILLING CODE 4830-01-P