The Department of the Treasury is set to submit several information collection requests to the Office of Management and Budget (OMB) as per the Paperwork Reduction Act of 1995. The requests cover various IRS forms, including forms related to voluntary disclosures, information returns, distributions from retirement plans, foreign tax credits, international boycott reports, and IRA contributions. The Treasury Department invites public comments on these requests within a 30-day period referenced in the notice. The estimated burden hours and respondent numbers vary across different forms and information collections.
Simple Explanation
The Treasury Department is asking for permission to collect information using different IRS forms like tax returns and retirement plans, and they want people to tell them what they think about it. They're trying to make sure this paperwork isn't too hard on anyone but it's a bit like figuring out a big puzzle.