[Federal Register Volume 90, Number 124 (Tuesday, July 1, 2025)]
[Notices]
[Pages 28865-28866]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-12285]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Agency Information Collection Activities; Comment Request on Form
1099-LTC--Long-Term Care and Accelerated Death Benefits
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice of information collection; request for comments.
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SUMMARY: In accordance with the Paperwork Reduction Act of 1995, the
IRS is inviting comments on the information collection request outlined
in this notice.
DATES: Written comments should be received on or before September 2,
2025 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.
1545-1519 in the subject line of the message.
FOR FURTHER INFORMATION CONTACT: View the latest drafts of the tax
forms related to the information collection listed in this notice at
https://www.irs.gov/draft-tax-forms. Requests for additional
information or copies of this collection should be directed to Marcus
W. McCrary, (470) 769-2001.
SUPPLEMENTARY INFORMATION: The IRS, in accordance with the Paperwork
Reduction Act of 1995 (PRA) (44 U.S.C. 3506(c)(2)(A)), provides the
general public and Federal agencies with an opportunity to comment on
proposed, revised, and continuing collections of information. This
helps the IRS assess the impact and minimize the burden of its
information collection requirements. 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.
Title: Long-Term Care and Accelerated Death Benefits.
OMB Control Number: 1545-1519.
Form Number: 1099-LTC.
Abstract: IRC sections 7702B and 101(g) respectively define
situations under which benefits paid under a long-term health care
insurance contract and accelerated death benefits paid under a life
insurance policy may qualify for special tax treatment. IRC section
6050Q requires the payer to report all such benefit amounts paid during
any calendar year, specifying whether or not the benefits were paid in
whole or in part on a per diem or other periodic basis without regard
to expenses. Benefit payers use Form 1099-LTC to report any long-term
care or accelerated death benefits paid to an individual. Payers
include insurance companies, governmental units, and viatical
settlement providers.
Current Actions: There is no change to the previously approved
information collection.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations, and
governments.
Estimated Number of Respondents: 3,000.
Estimated Number of Responses: 410,600.
Estimated Time per Response: 13 minutes.
Estimated Total Annual Burden Hours: 88,963.
[[Page 28866]]
Approved: June 27, 2025.
Marcus W. McCrary,
Tax Analyst.
[FR Doc. 2025-12285 Filed 6-30-25; 8:45 am]
BILLING CODE 4830-01-P