View Information Collection Request (ICR) Package
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View Supporting Statement and Other Documents
Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
1545-0015
ICR Reference No:
201311-1545-008
Status:
Historical Active
Previous ICR Reference No:
201008-1545-051
Agency/Subagency:
TREAS/IRS
Agency Tracking No:
ah-0015-008
Title:
United States Estate (and Generation-Skipping Transfer) Tax Return
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
03/24/2014
Retrieve Notice of Action (NOA)
Date Received in OIRA:
11/29/2013
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
03/31/2017
36 Months From Approved
03/31/2014
Responses
1,082,700
0
1,078,700
Time Burden (Hours)
2,048,710
0
2,046,350
Cost Burden (Dollars)
0
0
0
Abstract:
Form 706 is used by executors to report and compute the Federal Estate Tax imposed by IRC section 2001 and the Federal GST tax imposed by IRC section 2601. IRS uses the information to enforce these taxes and to verify that the tax has been properly computed.
Authorizing Statute(s):
US Code:
26 USC 2001
Name of Law: Imposition and rate of tax
US Code:
26 USC 2601
Name of Law: Tax imposed
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
78 FR 46688
08/01/2013
30-day Notice:
Federal Register Citation:
Citation Date:
78 FR 70411
11/25/2013
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
24
IC Title
Form No.
Form Name
Form 706 Continuation Schedule
Form 706 contination schedule
CONTINUATION SCHEDULE
Sch. A-1 - Section 2032A Valuation
Sch. A-1
Section 2032A Valuation
Schedule A - Real estate
Schedule A
Real estate
Schedule B - Stocks and Bonds
Sch B
Stocks and Bonds
Schedule C - Mortgages, Notes, and Cash
Sch C
Mortgages, Notes, and Cash
Schedule D - Insurance on the Decedents Life
Sch D
Insurance on the Decedent¿s Life
Schedule E - Jointly Owned Property
Sch E
Jointly Owned Property
Schedule F - Other Miscellaneous Property Not Reportable Under Any Other Schedule
Sch F
Other Miscellaneous Property Not Reportable Under Any Other Schedule
Schedule G - Transfers During Decedents Life
Sch G
Transfers During Decedent¿s Life
Schedule H - Powers of Appointment
Sch H
Powers of Appointment
Schedule I - Annuities
Sch I
Annuities
Schedule J - Funeral Expenses and Expenses Incurred in Administering Property Subject to Claims
Sch J
Funeral Expenses and Expenses Incurred in Administering Property Subject to Claims
Schedule K - Debts of the Decedent, and Mortgages and Liens
Sch K
Debts of the Decedent, and Mortgages and Liens
Schedule L - Net Losses During Administration and Expenses Incurred in Administering Property Not Subject to Claims
Sch L
Net Losses During Administration and Expenses Incurred in Administering Property Not Subject to Claims
Schedule M - Bequests, etc., to Surviving Spouse
Sch M
Bequests, etc., to Surviving Spouse
Schedule O - Charitable, Public, and Similar Gifts and Bequests
Sch O
Charitable, Public, and Similar Gifts and Bequests
Schedule P - Credit for Foreign Death Taxes
Sch P
Credit for Foreign Death Taxes
Schedule PC - Protective Claim for Refund
Sch PC
Protective Claim for Refund
Schedule Q - Credit for Tax on Prior Transfers
Sch Q
Credit for Tax on Prior Transfers
Schedule R - Generation-Skipping Transfer Tax
Sch R
Generation-Skipping Transfer Tax
Schedule R-1 - Generation-Skipping Transfer Tax
Sch R-1
Generation-Skipping Transfer Tax
Schedule U - Qualified Conservation Easement Exclusion
Sch U
Qualified Conservation Easement Exclusion
United States Estate (and Generation-Skipping Transfer) Tax Return
706
United States Estate (and Generation-Skipping Transfer) Tax Return
Worksheet for Schedule QCredit for Tax on Prior Transfers
ICR Summary of Burden
Total Approved
Previously Approved
Change Due to New Statute
Change Due to Agency Discretion
Change Due to Adjustment in Estimate
Change Due to Potential Violation of the PRA
Annual Number of Responses
1,082,700
1,078,700
0
4,000
0
0
Annual Time Burden (Hours)
2,048,710
2,046,350
0
2,360
0
0
Annual Cost Burden (Dollars)
0
0
0
0
0
0
Burden increases because of Program Change due to Agency Discretion:
Yes
Burden Increase Due to:
Changing Regulations
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
A new Schedule PC (Protective Claims) was added to the form based on guidance received as Revenue Procedure 2011-48. Additional changes in support of the implementation of Schedule PC were made in Part 4-General Information (page 2, line 6) and Schedules J, K, and L ("Note" on all pages). Schedule PC will allow taxpayers who have unresolved claims (which are not deductible under section 2053 as of the end of the limitations period) related to assets included in the decedent's estate to preserve the right to a refund once resolution is reached. This results in a net increase of 2,360 burden hours.
Annual Cost to Federal Government:
$1,564,896
Does this IC contain surveys, censuses, or employ statistical methods?
No
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
No
Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]?
No
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
No
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Esther Woodworth 202 622-3090
Common Form ICR:
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It reduces burden on small entities;
(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
(f) It indicates the retention periods for recordkeeping requirements;
(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
(i) It uses effective and efficient statistical survey methodology (if applicable); and
(j) It makes appropriate use of information technology.
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Certification Date:
11/29/2013
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