[Federal Register Volume 88, Number 172 (Thursday, September 7, 2023)]
[Notices]
[Pages 61670-61671]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-19341]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Requesting Comments on Form 706 and Schedule 
R-1 (Form 706)

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 
proposed and/or continuing information collections, as required by the 
Paperwork Reduction Act of 1995. The IRS is soliciting comments 
concerning Form 706, United States Estate (and Generation-Skipping 
Transfer) Tax Return, and Schedule R-1 (Form 706), Generation-Skipping 
Transfer Tax.

DATES: Written comments should be received on or before November 6, 
2023 to be assured of consideration.

ADDRESSES: Direct all written comments to Andres Garcia, Internal 
Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 
20224, or by email to [email protected]. Include OMB Control No. 
1545-0015 in the subject line of the message.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of this collection should be directed to Jon Callahan, (737) 
800-7639, at Internal Revenue Service, Room 6526, 1111 Constitution 
Avenue NW, Washington, DC 20224, or through the internet at 
[email protected].

SUPPLEMENTARY INFORMATION:  The IRS is currently seeking comments 
concerning the following information collection tools, reporting, and 
record-keeping requirements:
    Title: United States Estate (and Generation-Skipping Transfer) Tax 
Return.
    OMB Number: 1545-0015.
    Form Number: Form 706, and Schedule R-1 (Form 706).
    Abstract: Executors use Form 706 to report and compute the Federal 
Estate Tax imposed by Internal Revenue Code (IRC) section 2001 and the 
Federal Generation Skipping Tax, imposed by IRC section 2601. The IRS 
uses the information to enforce these taxes and to verify that the tax 
has been properly computed. Schedule R-1 (Form 706) serves as a payment 
voucher for the Generation-Skipping Transfer (GST) tax imposed on a 
direct skip from a trust, which the trustee of the trust, must pay.
    Current Actions: There is no change to the existing collection. 
However, the estimated number of responses was reduced based on current 
filing data.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or Households; and Businesses or other 
for-profit organizations.
    Estimated Number of Responses: 14,267.
    Estimated Time Per Respondent: 36 hours, 14 minutes.
    Estimated Total Annual Burden Hours: 517,090.
    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

[[Page 61671]]

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 1, 2023.
Jon R. Callahan,
Senior Tax Analyst.
[FR Doc. 2023-19341 Filed 9-6-23; 8:45 am]
BILLING CODE 4830-01-P