The Internal Revenue Service (IRS) is seeking public comments on their ongoing information collection efforts concerning changes in accounting periods, as required by the Paperwork Reduction Act of 1995. This notice invites feedback on the necessity, accuracy, and methods to enhance these information collections, while also minimizing the burden on respondents. The comment period is open until March 16, 2021, and all responses will be part of the public record. The IRS ensures these collections display a valid OMB control number and maintains confidentiality in accordance with tax laws.
Simple Explanation
The IRS wants to make sure their rules about how people keep track of their money are easy and clear, so they asked everyone to share their thoughts and ideas by March 16, 2021, to help make these rules better without making them too hard for anyone.