[Federal Register Volume 85, Number 176 (Thursday, September 10, 2020)]
[Notices]
[Page 55937]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-19930]


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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 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 
continuing information collections, as required by the Paperwork 
Reduction Act of 1995. The IRS is soliciting comments concerning United 
States gift (and generation-skipping transfer) tax return.

DATES: Written comments should be received on or before November 9, 
2020 to be assured of consideration.

ADDRESSES: Direct all written comments to Kinna Brewington, Internal 
Revenue Service, room 6526, 1111 Constitution Avenue NW, Washington, DC 
20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the form should be directed to Kerry Dennis, at (202) 317-
5751 or 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: There are no changes being made to the form at 
this time that would affect burden. However, the agency is updating the 
estimated number of respondents based on the most recent filing data, 
resulting in a decrease in respondents and overall annual burden hours.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 255,500.
    Estimated Time per Response: 6 hours, 12 minutes.
    Estimated Total Annual Burden Hours: 1,584,100.
    The following paragraph applies to all 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 if 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: September 3, 2020.
Chakinna B. Clemons,
Supervisory Tax Analyst.
[FR Doc. 2020-19930 Filed 9-9-20; 8:45 am]
BILLING CODE 4830-01-P