[Federal Register Volume 85, Number 102 (Wednesday, May 27, 2020)]
[Notices]
[Page 31852]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-11349]
[[Page 31852]]
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DEPARTMENT OF THE TREASURY
Agency Information Collection Activities; Submission for OMB
Review; Comment Request; Multiple Internal Revenue Service Information
Collection Requests
AGENCY: Departmental Offices, U.S. Department of the Treasury.
ACTION: Notice.
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SUMMARY: The Department of the Treasury will submit the following
information collection requests to the Office of Management and Budget
(OMB) for review and clearance in accordance with the Paperwork
Reduction Act of 1995, on or after the date of publication of this
notice. The public is invited to submit comments on these requests.
DATES: Comments should be received on or before June 26, 2020 to be
assured of consideration.
ADDRESSES: Written comments and recommendations for the proposed
information collection should be sent within 30 days of publication of
this notice to www.reginfo.gov/public/do/PRAMain. Find this particular
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.
FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be
obtained from Molly Stasko by emailing [email protected], calling (202)
622-8922, or viewing the entire information collection request at
www.reginfo.gov.
SUPPLEMENTARY INFORMATION:
Internal Revenue Service (IRS)
1. Title: Application To Use Last In, First Out (LIFO) Inventory
Method.
OMB Control Number: 1545-0042.
Type of Review: Extension without change of a currently approved
collection.
Description: Form 970 is filed by individuals, partnerships,
trusts, estates, or corporations to elect to use the LIFO inventory
method or to extend the LIFO method to additional goods. The Internal
Revenue Service uses Form 970 to determine if the election was properly
made.
Form: Form 970.
Affected Public: Business or other for-profit organizations, and
individuals or households.
Estimated Number of Respondents: 2,000.
Frequency of Response: On occasion.
Estimated Total Number of Annual Responses: 2,000.
Estimated Time per Response: 21 hours, 6 minutes.
Estimated Total Annual Burden Hours: 42,220.
2. Title: Requirements for qualified domestic trust.
OMB Control Number: 1545-1443.
Type of Review: Extension without change of a currently approved
collection.
Description: The regulation provides guidance relating to the
additional requirements necessary to ensure the collection of the
estate tax imposed under Section 2056A(b) with respect to taxable
events involving qualified domestic trusts (QDOT'S). In order to ensure
collection of the tax, the regulation provides various security options
that may be selected by the trust and the requirements associated with
each option. In addition, under certain circumstances the trust is
required to file an annual statement with the IRS disclosing the assets
held by the trust.
Form: None.
Affected Public: Individuals or Households.
Estimated Number of Respondents: 4,390.
Frequency of Response: On occasion.
Estimated Total Number of Annual Responses: 4,390.
Estimated Time per Response: 1 hour, 23 minutes.
Estimated Total Annual Burden Hours: 6,070 hours.
3. Title: Wage and Investment Strategies and Solutions Behavioral
Laboratory Customer Surveys and Support.
OMB Control Number: 1545-2274.
Type of Review: Extension without change of a currently approved
collection.
Description: As outlined in the IRS Strategic Plan, the Agency is
working towards allocating IRS resources strategically to address the
evolving scope and increasing complexity of tax administration. In
order to do this, the IRS must realize their operational efficiencies
and effectively manage costs by improving enterprise-wide resource
allocation and streamlining processes using feedback from various
behavioral research techniques.
To assist the Agency in accomplishing the goal outlined in the
Strategic Plan, the Wage and Investment Division continuously maintains
a ``customer-first'' focus through routinely soliciting information
concerning the needs and characteristics of its customers and
implementing programs based on the information received. W&I Strategies
and Solutions (WISS), is developing the implementation of a Behavioral
Laboratory to identify, plan and deliver business improvement processes
that support fulfillment of the IRS strategic goals.
The collection of information through the Behavioral Laboratory is
necessary to enable the Agency to garner customer and stakeholder
feedback in an efficient, timely manner, in accordance with the
commitment to improving taxpayer service delivery. Improving agency
programs requires ongoing assessment of service delivery. WISS, through
the Behavioral Laboratory, will collect, analyze, and interpret
information gathered through this generic clearance to identify
strengths and weaknesses of current services and make improvements in
service delivery based on feedback provided by taxpayers and IRS
employees.
Form: None.
Affected Public: Business or other for-profit organizations and
individuals or households.
Estimated Number of Respondents: 150,000.
Frequency of Response: On occasion.
Estimated Total Number of Annual Responses: 150,000.
Estimated Time per Response: 1 hour.
Estimated Total Annual Burden Hours: 150,000 hours.
(Authority: 44 U.S.C. 3501 et seq.)
Dated: May 21, 2020.
Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2020-11349 Filed 5-26-20; 8:45 am]
BILLING CODE 4830-01-P