The U.S. Department of the Treasury announced its plan to submit various information collection requests to the Office of Management and Budget (OMB) for review, following the Paperwork Reduction Act of 1995. The public is encouraged to comment on these requests before February 6, 2025. The Internal Revenue Service (IRS) is revising its collections, introducing new forms such as Form 709-NA for nonresident gift tax transfers and expanding e-filing authorization forms like Forms 8453-EG and 8879-EG. These changes aim to streamline tax reporting and electronic filing processes.
Simple Explanation
The U.S. Treasury Department is asking people to tell them what they think about some new forms and changes they want to make to tax paperwork that helps people file their taxes online more easily. They've added a new form for people who don't live here but make gifts, and want people to share their thoughts by February 6, 2025.