The Internal Revenue Service (IRS), part of the Treasury Department, has issued a notice inviting comments from the public regarding information collections related to treaty-based return position disclosures under the Paperwork Reduction Act of 1995. The IRS is specifically seeking feedback on Form 8833, used by taxpayers to disclose certain positions based on tax treaties. This form is primarily used by dual resident taxpayers and businesses. The IRS has maintained the burden of paperwork unchanged and is looking to renew the current approval for this form, estimating around 4,100 respondents and a total annual burden of 25,740 hours. Public comments should be submitted by March 26, 2021.
Simple Explanation
The IRS wants to know what people think about a form called Form 8833, which some people use when filing taxes with special rules from other countries. They plan to keep using this form and expect that it takes a lot of time for everyone to fill it out, and they want to hear if anyone has ideas or issues about it.