[Federal Register Volume 85, Number 205 (Thursday, October 22, 2020)]
[Notices]
[Pages 67423-67424]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-23380]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Extension of Information Collection Request Submitted 
for Public Comment; Election Out of GST Deemed Allocations

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice.

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SUMMARY: The Internal Revenue Service (IRS), in accordance with the 
Paperwork Reduction Act of 1995 (PRA 95), provides the general public 
and Federal agencies with an opportunity to comment on proposed and 
continuing collections of information. This helps IRS assess the impact 
of its information collection requirements and minimize the reporting 
burden on the public and helps the public understand IRS's information 
collection requirements and provide the requested data in the desired 
format. Currently, the IRS is soliciting comments concerning the 
reporting burden associated with making the Election Out of GST Deemed 
Allocations.

DATES: Written comments should be received on or before December 21, 
2020 to be assured of consideration.

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

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the regulations should be directed to LaNita Van Dyke, at 
(202) 317-6009, at Internal Revenue Service, Room 6526, 1111 
Constitution Avenue NW, Washington DC 20224, or through the internet, 
at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Election Out of GST Deemed Allocations.
    OMB Number: 1545-1892.
    Regulation Project Number: TD 9208.
    Abstract: This information is required by the IRS for taxpayers who 
elect to have the automatic allocation rules not apply to the current 
transfer and/or to future transfers to the trust or to terminate such 
election. This information is also required by the IRS for taxpayers 
who elect to treat trusts described in section 2632(c)(3)(B)(i) through 
(vi) as GST trusts or to terminate such election. This information will 
be used to identify the trusts to which the election or termination of 
election will apply.
    Current Actions: This notice requests public comment on the burden 
associated with making the Election Out of GST Deemed Allocations. The 
IRS notes that an agency may not conduct or sponsor, and a person is 
not required to respond to, an information collection unless it 
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.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households.
    Estimated Number of Respondents: 25,000.

[[Page 67424]]

    Estimated Time per Respondent: 30 minutes.
    Estimated Total Annual Burden Hours: 12,500.
    Desired Focus of Comments: The Internal Revenue Service (IRS) is 
particularly interested in comments that:
     Evaluate whether the proposed collection of information is 
necessary for the proper performance of the functions of the agency, 
including whether the information will have practical utility;
     Evaluate the accuracy of the agency's estimate of the 
burden of the proposed collection of information, including the 
validity of the methodology and assumptions used;
     Enhance the quality, utility, and clarity of the 
information to be collected; and
     Minimize the burden of the collection of information on 
those who are to respond, including through the use of appropriate 
automated, electronic, mechanical, or other technological collection 
techniques or other forms of information technology, e.g., by 
permitting electronic submissions of responses.
    Comments submitted in response to this notice will be summarized 
and/or included in the ICR for OMB approval of the extension of the 
information collection; they will also become a matter of public 
record.

    Approved: October 18, 2020.
Chakinna B. Clemons,
Supervisory Tax Analyst.

[FR Doc. 2020-23380 Filed 10-21-20; 8:45 am]
BILLING CODE 4830-01-P