[Federal Register Volume 84, Number 198 (Friday, October 11, 2019)]
[Notices]
[Pages 54948-54949]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-22248]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Regulation Project

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 
information collections, as required by the Paperwork Reduction Act of 
1995. The IRS is soliciting comments concerning estate and gift taxes; 
qualified disclaimers of property (section 2518).

DATES: Written comments should be received on or before December 10, 
2019 to be assured of consideration.

ADDRESSES: Direct all written comments to Dr. Philippe Thomas, Internal 
Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 
20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the regulations should be directed to Sara Covington, at 
(202) 317-6038, or Internal Revenue Service, Room 6526, 1111 
Constitution Avenue NW, Washington, DC 20224, or through the internet, 
at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Estate and Gift Taxes; Qualified Disclaimers of Property.
    OMB Number: 1545-0959. Regulation Project Number: TD 8095.
    Abstract: Internal Revenue Code section 2518 allows a person to 
disclaim an interest in property received by gift or inheritance. The 
interest is treated as if the disclaimant never received or transferred 
such interest for Federal gift tax purposes. A qualified disclaimer 
must be in writing and delivered to the transferor or trustee.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension without change of a currently approved 
collection.
    Affected Public: Individuals or households.
    Estimated Number of Respondents: 2,000.
    Estimated Time per Respondent: 30 minutes.
    Estimated Total Annual Burden Hours: 1,000.
    The following paragraph applies to all of the collections of 
1information covered by this notice:

[[Page 54949]]

    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: October 07, 2019.
Philippe Thomas,
IRS Supervisory Tax Analyst.
[FR Doc. 2019-22248 Filed 10-10-19; 8:45 am]
 BILLING CODE 4830-01-P