[Federal Register Volume 89, Number 189 (Monday, September 30, 2024)]
[Notices]
[Pages 79692-79693]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-22305]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Extension of Information Collection Request Submitted 
for Public Comment; Comment Request on Burden Related to the Qualified 
Severance of Trusts

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 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. Currently, the IRS is soliciting comments 
concerning the burden related to the guidance regarding a qualified 
severance of a trust.

DATES: Written comments should be received on or before November 29, 
2024 to be assured of consideration.

ADDRESSES: Direct all written comments to Andr[eacute]s Garcia, 
Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, 
Washington, DC 20224, or by email to <a href="/cdn-cgi/l/email-protection#f9898b98d79a9694949c978d8ab9908b8ad79e968f"><span class="__cf_email__" data-cfemail="c9b9bba8e7aaa6a4a4aca7bdba89a0bbbae7aea6bf">[email protected]</span></a>. Please 
include, ``OMB Number: 1545-1902--Public Comment Request Notice'' in 
the Subject line.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the form and instructions should be directed to Ronald J. 
Durbala, at (202) 317-5746, at Internal Revenue Service, Room 6526, 
1111 Constitution Avenue NW, Washington, DC 20224, or through the 
internet at <a href="/cdn-cgi/l/email-protection#0a584065796f7a62244e7f78686b666b4a637879246d657c"><span class="__cf_email__" data-cfemail="bceef6d3cfd9ccd492f8c9cededdd0ddfcd5cecf92dbd3ca">[email protected]</span></a>.

SUPPLEMENTARY INFORMATION: 
    Title: Qualified Severance.
    OMB Number: 1545-1902.
    Document Number: TD 9348, TD 9421.
    Abstract: TD 9438 contains final regulations providing guidance 
regarding the qualified severance of a trust for generation-skipping 
transfer (GST) tax purposes under section

[[Page 79693]]

2642(a)(3) of the Internal Revenue Code (Code), which was added to the 
Code by the Economic Growth and Tax Relief Reconciliation Act of 2001 
(EGTRRA). TD 9421 contains final regulations providing guidance 
regarding the GST tax consequences of the severance of a trust in a 
manner that is effective under state law, but that does not meet the 
requirements of a qualified severance under section 2642(a)(3) of the 
Code.
    Current Actions: There is no change in the collections of 
information previously approved by OMB. However, IRS is requesting 
updates to properly account for both burdens addressed in TD 9348 and 
TD 9421. This request is to extend the current approval for another 3 
years.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Individuals or households.
    Estimated Number of Respondents: 700.
    Estimated Time per Respondent: 2 hrs., 1 min.
    Estimated Total Annual Burden Hours: 1,402.
    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.
    Desired Focus of Comments: The Internal Revenue Service (IRS) is 
particularly interested in comments that:
    <bullet> 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.
    <bullet> 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.
    <bullet> Enhance the quality, utility, and clarity of the 
information to be collected; and
    <bullet> Minimize the burden of the collection of information on 
those who are to respond, including using 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: September 25, 2024.
Ronald J. Durbala,
IRS Tax Analyst.
[FR Doc. 2024-22305 Filed 9-27-24; 8:45 am]
BILLING CODE 4830-01-P


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