[Federal Register Volume 87, Number 135 (Friday, July 15, 2022)]
[Notices]
[Pages 42546-42547]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-15182]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 706-GS(T)

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Internal Revenue Service (IRS), 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 Generation-Skipping 
Transfer Tax Return For Terminations.

DATES: Written comments should be received on or before September 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 <a href="/cdn-cgi/l/email-protection#e6898b84c893888f92a68f9495c8818990"><span class="__cf_email__" data-cfemail="82edefe0acf7ecebf6c2ebf0f1ace5edf4">[email protected]</span></a>. Include ``OMB Number 1545-1145-
Generation-Skipping Transfer Tax Return For Terminations'' in the 
subject line of the message.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of this collection should be directed to Martha R. Brinson, at 
(202)317-5753, or 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#a6ebc7d4d2cec788f488e4d4cfc8d5c9c8e6cfd4d588c1c9d0"><span class="__cf_email__" data-cfemail="cf82aebdbba7aee19de18dbda6a1bca0a18fa6bdbce1a8a0b9">[email protected]</span></a>.

SUPPLEMENTARY INFORMATION: 
    Title: Generation-Skipping Transfer Tax Return For Terminations.
    OMB Number: 1545-1145.
    Form Number: 706-GS(T).
    Abstract: Form 706-GS(T) is used by trustees to compute and report 
the tax due on generation-skipping transfers that result from the 
termination of interests in a trust. The IRS uses the information to 
verify that the tax has been properly computed.
    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 Respondents: 500.
    Estimated Number of Responses: 1 hour, 22 minutes.
    Estimated Total Annual Burden Hours: 684 hours.
    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. 
Comments will be 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 has 
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,

[[Page 42547]]

and clarity of the information to be collected; (d)ways to minimize the 
burden of the collection of information on 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: July 11, 2022.
Martha R. Brinson,
Tax Analyst.
[FR Doc. 2022-15182 Filed 7-14-22; 8:45 am]
BILLING CODE 4830-01-P


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