Notice2023-19341
Proposed Collection; Requesting Comments on Form 706 and Schedule R-1 (Form 706)
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
September 7, 2023
Issuing agencies
Treasury DepartmentInternal Revenue Service
Abstract
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 proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return, and Schedule R-1 (Form 706), Generation-Skipping Transfer Tax.
Full Text
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<title>Federal Register, Volume 88 Issue 172 (Thursday, September 7, 2023)</title>
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[Federal Register Volume 88, Number 172 (Thursday, September 7, 2023)]
[Notices]
[Pages 61670-61671]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-19341]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Requesting Comments on Form 706 and Schedule
R-1 (Form 706)
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
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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
proposed and/or continuing information collections, as required by the
Paperwork Reduction Act of 1995. The IRS is soliciting comments
concerning Form 706, United States Estate (and Generation-Skipping
Transfer) Tax Return, and Schedule R-1 (Form 706), Generation-Skipping
Transfer Tax.
DATES: Written comments should be received on or before November 6,
2023 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 <a href="/cdn-cgi/l/email-protection#1f6f6d7e317c7072727a716b6c5f766d6c31787069"><span class="__cf_email__" data-cfemail="b8c8cad996dbd7d5d5ddd6cccbf8d1cacb96dfd7ce">[email protected]</span></a>. Include OMB Control No.
1545-0015 in the subject line of the message.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of this collection should be directed to Jon Callahan, (737)
800-7639, at Internal Revenue Service, Room 6526, 1111 Constitution
Avenue NW, Washington, DC 20224, or through the internet at
<a href="/cdn-cgi/l/email-protection#6d070203431f430e0c01010c050c032d041f1e430a021b"><span class="__cf_email__" data-cfemail="503a3f3e7e227e33313c3c3138313e103922237e373f26">[email protected]</span></a>.
SUPPLEMENTARY INFORMATION: The IRS is currently seeking comments
concerning the following information collection tools, reporting, and
record-keeping requirements:
Title: United States Estate (and Generation-Skipping Transfer) Tax
Return.
OMB Number: 1545-0015.
Form Number: Form 706, and Schedule R-1 (Form 706).
Abstract: Executors use Form 706 to report and compute the Federal
Estate Tax imposed by Internal Revenue Code (IRC) section 2001 and the
Federal Generation Skipping Tax, imposed by IRC section 2601. The IRS
uses the information to enforce these taxes and to verify that the tax
has been properly computed. Schedule R-1 (Form 706) serves as a payment
voucher for the Generation-Skipping Transfer (GST) tax imposed on a
direct skip from a trust, which the trustee of the trust, must pay.
Current Actions: There is no change to the existing collection.
However, the estimated number of responses was reduced based on current
filing data.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals or Households; and Businesses or other
for-profit organizations.
Estimated Number of Responses: 14,267.
Estimated Time Per Respondent: 36 hours, 14 minutes.
Estimated Total Annual Burden Hours: 517,090.
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
[[Page 61671]]
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: September 1, 2023.
Jon R. Callahan,
Senior Tax Analyst.
[FR Doc. 2023-19341 Filed 9-6-23; 8:45 am]
BILLING CODE 4830-01-P
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This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.