89 FR 165 pgs. 68496-68497 - Proposed Extension of Information Collection Request Submitted for Public Comment; Comment Request for Third-Party Disclosure Requirements
Type: NOTICEVolume: 89Number: 165Pages: 68496 - 68497
Pages: 68496, 68497FR document: [FR Doc. 2024-19112 Filed 8-23-24; 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 Extension of Information Collection Request Submitted for Public Comment; Comment Request for Third-Party Disclosure Requirements
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 third-party disclosure requirements.
DATES:
Written comments should be received on or before October 25, 2024 to be assured of consideration.
ADDRESSES:
Direct all written comments to Andrés Garcia, Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224, or by email to pra.comments@irs.gov. Please include, "OMB Number: 1545-1466-Public Comment Request Notice" in the Subject line.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or copies of the form and instructions should be directed to Ronald J. Durbala, at (202) 317-5746, at Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224, or through the internet at RJoseph.Durbala@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Third-Party Disclosure Requirements.
OMB Number: 1545-1466.
Abstract: Taxpayers must obtain third-party certification or documentation to avail themselves of certain credits, deductions or other benefits permitted by the Internal Revenue Code. Taxpayers will use these documents or information to support claims for certain credits, deductions, or tax benefits on their returns. The Internal Revenue Service may review these documents or information during any examination of taxpayers' returns to verify the taxpayers' entitlement to the claimed credits, deductions, or tax benefits. This submission contains third-party disclosure regulations subject to the Paperwork Reduction Act of 1995.
Current Actions: There are no changes being made to this collection at this time. However, updates in the burden estimates will result in a burden increase of 297,453 hours.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals or households, business or other for-profit organizations, and not-for-profit institutions.
Estimated Number of Responses: 130,723,849.
Estimated Average Time per Respondent: 16 min.
[top] Estimated Total Annual Burden Hours: 34,228,870.
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: August 21, 2024.
Ronald J. Durbala,
IRS Tax Analyst.
[FR Doc. 2024-19112 Filed 8-23-24; 8:45 am]
BILLING CODE 4830-01-P