Notice2023-25149
Proposed Collection; Comment Request for Form 1041-N
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
November 15, 2023
Issuing agencies
Treasury DepartmentInternal Revenue Service
Abstract
The Internal Revenue Service (IRS), 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 information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning U.S. Income Tax Return for Electing Alaska Native Settlement Trusts.
Full Text
<html>
<head>
<title>Federal Register, Volume 88 Issue 219 (Wednesday, November 15, 2023)</title>
</head>
<body><pre>
[Federal Register Volume 88, Number 219 (Wednesday, November 15, 2023)]
[Notices]
[Page 78472]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-25149]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Form 1041-N
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
-----------------------------------------------------------------------
SUMMARY: The Internal Revenue Service (IRS), 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 information collections, as required by the Paperwork Reduction Act
of 1995. The IRS is soliciting comments concerning U.S. Income Tax
Return for Electing Alaska Native Settlement Trusts.
DATES: Written comments should be received on or before January 16,
2024 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#205052410e434f4d4d454e5453604952530e474f56"><span class="__cf_email__" data-cfemail="215153400f424e4c4c444f5552614853520f464e57">[email protected]</span></a>. Include ``OMB Number 1545-
1776--U.S. Income Tax Return for Electing Alaska Native Settlement
Trusts'' in the subject line of the message.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of this collection should be directed to Martha R. Brinson, at
(202)317-5753, or 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#35785447415d541b671b77475c5b465a5b755c47461b525a43"><span class="__cf_email__" data-cfemail="24694556504c450a760a66564d4a574b4a644d56570a434b52">[email protected]</span></a>.
SUPPLEMENTARY INFORMATION:
Title: U.S. Income Tax Return for Electing Alaska Native Settlement
Trusts.
OMB Number: 1545-1776.
Form Number: 1041-N.
Abstract: An Alaska Native Settlement Trust (ANST) may elect under
section 646 to have the special income tax treatment of that section
apply to the trust and its beneficiaries. This one-time election is
made by filing Form 1041-N which is used by the ANST to report its
income, etc., and to compute and pay any income tax. Form 1041-N is
also used for the special information reporting requirements that apply
to ANSTs.
Current Actions: IRS is revising Form 1041-N, Part II, to allow the
elective payment election amount to be entered from Form 3800.
Type of Review: Revision of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 20.
Estimated Time per Response: 39 minutes.
Estimated Total Annual Burden Hours: 788.
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.
Comments will be 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 has
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 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: November 7, 2023.
Martha R. Brinson,
Tax Analyst.
[FR Doc. 2023-25149 Filed 11-14-23; 8:45 am]
BILLING CODE 4830-01-P
</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>Indexed from Federal Register on November 15, 2023.
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.