The Internal Revenue Service (IRS) is seeking public comments concerning ongoing information collection related to Coverdell Education Savings Account (ESA) contribution information. This request is part of the IRS's efforts to minimize paperwork and the burden on respondents, following the Paperwork Reduction Act of 1995. Public comments will be accepted until May 5, 2025, and should address the necessity and effectiveness of the information collection, as well as suggestions for improvement and cost minimization. Comments may become part of the public record and are considered in requests for approval from the Office of Management and Budget (OMB).
Simple Explanation
The IRS wants to hear from people about how they collect information on savings accounts for school, to make sure it's easy and not too much work for everyone. People have until May 5, 2025, to send in their ideas or thoughts on how to make it better.