[Federal Register Volume 86, Number 12 (Thursday, January 21, 2021)]
[Notices]
[Page 6417]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-01169]


-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 1099-A

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

-----------------------------------------------------------------------

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 
proposed and information collections, as required by the Paperwork 
Reduction Act of 1995. The IRS is soliciting comments concerning Form 
1099-A, Acquisition or Abandonment of Secured Property.

DATES: Written comments should be received on or before March 22, 2021 
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. Requests for additional information or copies of the forms and 
instructions should be directed to Sara Covington, at (737) 800-6149, 
Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, 
Washington, DC 20224, or through the internet at 
[email protected].

SUPPLEMENTARY INFORMATION:
    Title: Acquisition or Abandonment of Secured Property.
    OMB Number: 1545-0877.
    Form Number: 1099-A.
    Abstract: Form 1099-A is used by persons who lend money in 
connection with a trade or business, and who acquire an interest in the 
property that is security for the loan or who have reason to know that 
the property has been abandoned, to report the acquisition or 
abandonment.
    Current Actions: There are no changes being made to the form 
approved under this collection. However, changes to the estimated 
number of filers (563,000 to 466,000), will result in a total burden 
decrease of 15520 (90080 minus 74560).
    Type of Review: Revision of a current OMB approval.
    Affected Public: Businesses or other for-profit organizations.
    Estimated Number of Responses: 466,000.
    Estimated Time per Response: 9 min.
    Estimated Total Annual Burden Hours: 74,560.
    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: January 13, 2021.
Sara L. Covington,
IRS Tax Analyst.
[FR Doc. 2021-01169 Filed 1-19-21; 8:45 am]
BILLING CODE P