[Federal Register Volume 82, Number 77 (Monday, April 24, 2017)]
[Notices]
[Page 18969]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-08155]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for United States Gift (and
Generation-Skipping Transfer) Tax Return
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
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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. Currently, the IRS is soliciting
comments concerning United States Gift (and Generation-Skipping
Transfer) Tax Return.
DATES: Written comments should be received on or before June 23, 2017
to be assured of consideration.
ADDRESSES: Direct all written comments to Laurie E. Brimmer, Internal
Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington,
DC 20224. Requests for additional copies of the form and instructions
should be directed to Martha R. Brinson, Internal Revenue Service, Room
6526, 1111 Constitution Avenue NW., Washington, DC 20224, or through
the Internet at [email protected].
SUPPLEMENTARY INFORMATION:
Title: United States Gift (and Generation-Skipping Transfer) Tax
Return.
OMB Number: 1545-0020.
Form Number: 709.
Abstract: Form 709 is used by individuals to report transfers
subject to the gift and generation-skipping transfer taxes and to
compute these taxes. The IRS uses the information to collect and
enforce these taxes, to verify that the taxes are properly computed,
and to compute the tax base for the estate tax.
Current Actions: On page 4, Schedule C, Part 2, added new entry box
(Restored Exclusion Amount) for line 5.
Type of Review: Revision of a currently approved collection.
Affected Public: Individuals or households.
Estimated Number of Respondents: 278,500.
Estimated Time per Respondent: 6.2 hours.
Estimated Total Annual Burden Hours: 1,726,700.
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.
Approved: April 17, 2017.
Laurie E. Brimmer,
Senior Tax Analyst.
[FR Doc. 2017-08155 Filed 4-21-17; 8:45 am]
BILLING CODE 4830-01-P