The Internal Revenue Service (IRS) is requesting comments from the public and other federal agencies regarding its information collections tied to the Amortization of Intangible Property. This initiative is part of their ongoing effort to reduce paperwork and respondent burden, in line with the Paperwork Reduction Act of 1995. People interested in providing their comments should do so by March 18, 2025, and these comments will help in the evaluation of the utility and necessity of the information collection as well as in exploring ways to enhance the quality and reduce the burden of such collections.
Simple Explanation
The IRS wants to hear what people think about certain rules that help them know how to handle things they can't touch, like ideas or special rights, to make sure it's not too much work to follow these rules. They're asking everyone to send their thoughts before March 18, 2025, to help make these rules better and simpler.