[Federal Register Volume 79, Number 66 (Monday, April 7, 2014)]
[Notices]
[Page 19173]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-07726]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 1099-LTC

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, Public Law 104-13(44 U.S.C. 
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning 
Form 1099-LTC, Long-term Care and Accelerated Death Benefits.

DATES: Written comments should be received on or before June 6, 2014 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 Kerry Dennis 
at Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., 
Washington, DC 20224, or through the Internet at [email protected].

SUPPLEMENTARY INFORMATION:
    Title: Long-Term Care and Accelerated Death Benefits.
    OMB Number: 1545-1519.
    Form Number: 1099-LTC.
    Abstract: Payers of benefits under a qualified long-term care 
insurance contract, and any payer of accelerated death benefits under a 
life insurance contract are required to report the gross amount of such 
benefits made to a payee in a tax year (Section 6050Q). Form 1099-LTC 
is used to report the gross amount of Long term Care benefits.
    Current Actions: There are no changes being made to the form at 
this time, however the Department has updated the burden associated 
with the ICR to reflect its most recent data on Form 1099-LTC filings. 
We estimate 213,453 additional filings which will increase our 
estimates from 79,047 to 292,500. The estimate is based on updated 
filing projections and previous year filings. There are no additional 
program changes that will affect the burden estimates.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses or other for-profit organizations, 
individuals or households, not-for-profit institutions, and state, 
local or tribal governments.
    Estimated Number of Responses: 292,500.
    Estimated Time per Response: 13 minutes.
    Estimated Total Annual Burden Hours: 67,275.
    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: March 19, 2014.
R. Joseph Durbala,
IRS Reports Clearance Officer.
[FR Doc. 2014-07726 Filed 4-4-14; 8:45 am]
BILLING CODE 4830-01-P