Type:Notice
Citation:86 FR 10000
Reading Time:about 2 minutes
The Internal Revenue Service (IRS) is asking for public comments on certain information collections related to product liability losses and how they are accumulated. This request is part of their ongoing efforts to reduce paperwork and the burden on respondents. Comments are especially welcome on topics such as the necessity of the information collection, its usefulness, and ways to reduce the burden of collecting it. The deadline for submitting comments is April 19, 2021.
Simple Explanation
The IRS wants people to say what they think about some forms and questions that help figure out how companies deal with certain kinds of money losses. They are asking for ideas on how the forms can be easier to fill out without being too confusing or hard to understand.