Type:Notice
Citation:90 FR 13994
Reading Time:about 2 minutes
The Internal Revenue Service (IRS) is seeking public comments on the reporting requirements for widely held fixed investment trusts. This request is part of the IRS's effort to reduce paperwork, as dictated by the Paperwork Reduction Act of 1995. Those involved are encouraged to submit comments by May 27, 2025. The regulations require certain tax information to be shared between trustees, middlemen, and investors, ensuring compliance with tax laws.
Simple Explanation
The IRS wants people to tell them what they think about the rules for sharing certain money information. They hope to find better ways to do this with less paperwork!