Search Results for keywords:"IRS"

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Search Results: keywords:"IRS"

  • Type:Notice
    Citation:90 FR 16591
    Reading Time:about 2 minutes

    The Internal Revenue Service (IRS) is inviting the public and other federal agencies to provide comments on two specific forms: Form 8717 and Form 8717-A. These forms are used by organizations for paying user fees required by the IRS when they request certain official letters related to employee plans. The IRS aims to gather feedback to help reduce paperwork and improve the process, as mandated by the Paperwork Reduction Act of 1995. Comments are being accepted until June 17, 2025.

    Simple Explanation

    The IRS is asking everyone to share their thoughts on some forms that people use when they need special letters about how their company's retirement plans work. They want to make sure these forms are easy to use and not too much work for anyone.

  • Type:Proposed Rule
    Citation:89 FR 96622
    Reading Time:about a minute or two

    The Internal Revenue Service (IRS) has cancelled a public hearing that was scheduled for December 6, 2024. This hearing was supposed to discuss a proposed rule allowing the IRS to accept tax payments directly via credit or debit card, as per changes made by the Taxpayer First Act. The cancellation occurred because no one requested to testify by the deadline. Public comments on the proposal can still be accessed online.

    Simple Explanation

    The document talks about how the IRS was planning to have a meeting to talk about letting people pay their taxes using credit or debit cards directly, like when you buy toys with your cards, but they canceled the meeting because nobody wanted to come and talk. You can still see what people thought about this idea on the internet.

  • Type:Notice
    Citation:90 FR 11209
    Reading Time:about 3 minutes

    The Internal Revenue Service (IRS) is inviting public comments on the information collection related to Treasury Decision (TD) 9764, specifically regarding Section 6708, which deals with penalties for not maintaining lists of advisees for reportable transactions. This is part of a broader initiative to reduce paperwork burdens as per the Paperwork Reduction Act of 1995. The IRS is particularly interested in feedback on the necessity, accuracy, and ways to improve the collection process. Comments, due by May 5, 2025, will become public and assist in gaining approval for the collection tools used.

    Simple Explanation

    The IRS wants people to tell them if it's okay and helpful to collect certain information about people who give advice on tricky money matters, like special tax deals. They are asking for ideas on how to make this easier and better by May 5, 2025.

  • Type:Notice
    Citation:89 FR 103931
    Reading Time:about 2 minutes

    The Treasury Department's Internal Revenue Service (IRS) is requesting public comments on forms used by business entities, as part of efforts to reduce paperwork and respondent burden. This request is in compliance with the Paperwork Reduction Act of 1995 and involves forms such as 1065, 1120, and others related to business income tax returns. The IRS estimates that 13.9 million respondents will spend an average of 67 hours and 25 minutes, with a total annual monetized time valued at $56,152,000,000, and total out-of-pocket costs at $71,617,000,000. Comments are to be received by January 21, 2025, to ensure consideration.

    Simple Explanation

    The IRS is asking people to share their thoughts on how to make tax forms for businesses easier to fill out, so that completing them takes less time and effort. They want to know how to make the forms better and are inviting feedback from everyone.

  • Type:Notice
    Citation:90 FR 6098
    Reading Time:about 2 minutes

    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.

  • Type:Notice
    Citation:89 FR 97169
    Reading Time:about 2 minutes

    The Internal Revenue Service (IRS) is asking for public comments on the paperwork involved in obtaining advance pricing agreements. These agreements help determine pricing for transactions between related companies to ensure fair tax practices. The IRS is particularly interested in feedback about whether the information collected is necessary, how accurate their burden estimate is, and ways to reduce the burden on respondents. Comments need to be received by February 4, 2025, to be considered.

    Simple Explanation

    The IRS wants to know if getting special tax pricing deals, called advance pricing agreements, takes too much time and effort for people. They're asking for thoughts on how to make it easier and more fair, and everyone can share their ideas by a certain date, which is like when a big homework project is due!

  • Type:Notice
    Citation:90 FR 9803
    Reading Time:about 2 minutes

    The Internal Revenue Service (IRS) is inviting public comments on the burden related to Form 13768, the "Electronic Tax Administration Advisory Committee Membership Application," as part of efforts to reduce paperwork and respondent burden. Comments should be submitted by April 21, 2025. The form is being reviewed for renewal, with updates in burden calculations increasing the estimated annual burden by 13 hours. The IRS particularly seeks comments evaluating the collection's necessity, accuracy, quality, and methods to minimize respondent burdens, including technological solutions.

    Simple Explanation

    The IRS wants to know what people think about how much work it takes to fill out a form to join a special tax committee. They're checking to see if they can make it easier and want ideas from everyone by April 21, 2025.

  • Type:Notice
    Citation:90 FR 8830
    Reading Time:less than a minute

    The notice published by the Internal Revenue Service (IRS) and the Treasury Department lists individuals who have given up their United States citizenship during the last quarter of 2024. Under the Health Insurance Portability and Accountability Act (HIPAA) of 1996, the names are disclosed for those who have lost their U.S. citizenship, including some long-term residents treated as if they had lost citizenship. This information complies with section 6039G of the Act, showing transparency in expatriation records.

    Simple Explanation

    The notice is a list of people who decided not to be part of the United States anymore, and it helps everyone stay informed by showing these names every few months.

  • Type:Notice
    Citation:90 FR 10780
    Reading Time:about 2 minutes

    The Internal Revenue Service (IRS) is seeking comments on Form 8850 as part of its effort to reduce paperwork and the burden on respondents, in line with the Paperwork Reduction Act of 1995. This form, used by employers, helps to certify employees from targeted groups for the Work Opportunity Credit. The deadline for submitting written comments is April 28, 2025. Interested parties can direct their comments to Andres Garcia at the IRS, and any submitted feedback will be considered in the request for approval by the Office of Management and Budget (OMB).

    Simple Explanation

    The IRS wants to hear what people think about a special form called Form 8850 that helps businesses get a tax credit for hiring certain employees. They hope to make filling out the form easier and ask people to share their ideas by April.

  • Type:Notice
    Citation:90 FR 11354
    Reading Time:about 2 minutes

    The Internal Revenue Service (IRS) is asking for public comments about certain regulations concerning partner liabilities. They want to make sure these information collections are necessary and efficient, and they're inviting feedback on how the processes might be improved. Comments must be submitted by May 5, 2025, and each response should provide practical suggestions for reducing paperwork and improving clarity. This initiative is part of the IRS's ongoing efforts to minimize the burden on respondents while ensuring compliance with federal tax laws.

    Simple Explanation

    The IRS wants people to tell them if the rules about sharing money problems between business partners make sense and are easy to follow. They are looking for ideas to make filling out forms simpler and clearer for everyone.

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