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###### Department of the Treasury

###### Internal Revenue Service

# 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 information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning Form 4972, Tax on Lump-Sum Distributions (From Qualified Plans of Participants Born Before January 2, 1936).

# DATES:

Written comments should be received on or before June 13, 2022 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                         *omb.unit@irs.gov.*

Please include the “OMB Number 1545-0193” in the Subject Line.

# FOR FURTHER INFORMATION CONTACT:

                        Requests for additional information or copies of the form and instructions should be directed to Sara Covington, at Internal Revenue Service, room 6526, 1111 Constitution Avenue NW, Washington, DC 20224, or at (202) 317-4542, or through the internet at                         *Sara.L.Covington@irs.gov.*

# SUPPLEMENTARY INFORMATION:

*Title:*                     Tax on Lump-Sum Distributions (From Qualified Plans of Participants Born Before January 2, 1936).                

*OMB Number:*                     1545-0193.                

*Form Number:*                     Form 4972.                

*Abstract:*                     Form 4972 is used to figure the tax on a qualified lump-sum distribution you received in the tax year using the 20 percent capital gain election, the 10-year tax option, or both. These are special formulas used to figure a separate tax on the distribution that may result in a smaller tax than if you reported the taxable amount of the distribution as ordinary income.                

*Current Actions:*                     There are no changes being made to the form at this time.                

*Type of Review:*                     Extension of a currently approved collection.                

*Affected Public:*                     Individuals or households.                

*Estimated Number of Responses:*                     5,601.                

*Estimated Time per Respondent:*                     4 hrs. 24 min.                

*Estimated Total Annual Burden Hours:*                     24,644.                

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: April 05, 2022.

Sara L. Covington,

IRS Tax Analyst.

[FR Doc. 2022-07739 Filed 4-11-22; 8:45 am]

BILLING CODE 4830-01-P