The Department of the Treasury has announced that it will submit several information collection requests to the Office of Management and Budget for review under the Paperwork Reduction Act of 1995. These requests include forms for reporting income tax withholding on non-payroll payments, procedures for master and prototype plans, and rules for longevity annuity contracts. Public comments on these requests are invited until March 22, 2021. This notice provides detailed information on the purpose and requirements of each collection, along with estimates of the number of respondents and total annual burden hours.
Simple Explanation
The Treasury Department wants to check with people about some forms needed for paying taxes. They are asking people to give their thoughts about these forms by March 22, 2021, to make sure everything is clear and fair.