View Information Collection Request (ICR) Package
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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:
202006-1545-005
Status:
Historical Active
Previous ICR Reference No:
201702-1545-006
Agency/Subagency:
TREAS/IRS
Agency Tracking No:
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:
12/08/2020
Retrieve Notice of Action (NOA)
Date Received in OIRA:
10/30/2020
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
12/31/2023
36 Months From Approved
12/31/2020
Responses
30,729
0
1,082,700
Time Burden (Hours)
1,121,903
0
2,048,710
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 Generation Skipping Tax, imposed by IRC section 2601. IRS uses the information to enforce these taxes and to verify that the tax has been properly computed. Schedule R-1 (Form 706) serves as a payment voucher for the Generation-Skipping Transfer (GST) tax imposed on a direct skip from a trust, which the trustee of the trust, must pay.
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
US Code:
26 USC 2603
Name of Law: Liability for tax
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:
85 FR 43943
07/20/2020
30-day Notice:
Federal Register Citation:
Citation Date:
85 FR 86415
10/28/2020
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
2
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 (Form 706)
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
30,729
1,082,700
0
-961,100
-90,871
0
Annual Time Burden (Hours)
1,121,903
2,048,710
0
-1,131,248
204,441
0
Annual Cost Burden (Dollars)
0
0
0
0
0
0
Burden increases because of Program Change due to Agency Discretion:
No
Burden Increase Due to:
Burden decreases because of Program Change due to Agency Discretion:
Yes
Burden Reduction Due to:
Miscellaneous Actions
Short Statement:
Changes to the burden estimates of Form 706 are due to the reduction in filers based on the most recent filing data, from 117,00 to 30, 529 responses and reduction in burden hours from 909,090 to 1,121,635. Prior to this collection the schedules that were embedded in Form 706 was counted separately resulting in duplication counting of burden estimates. Also, Form Schedule R-1 (706) no longer embedded in Form 706, added to the collection which increased the responses by 200 and the burden hours by 268. Overall, the total responses are 30729 and the total burden hours are 1, 121, 903. We are making this submission to renew the OMB approval and revise the collection to add Form Schedule R-1 (Form 706).
Annual Cost to Federal Government:
$0
Does this IC contain surveys, censuses, or employ statistical methods?
No
Does this ICR request any personally identifiable information (see
OMB Circular No. A-130
for an explanation of this term)? Please consult with your agency's privacy program when making this determination.
Yes
Does this ICR include a form that requires a Privacy Act Statement (see
5 U.S.C. §552a(e)(3)
)? Please consult with your agency's privacy program when making this determination.
Yes
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?
No
Agency Contact:
Danielle Behler 859 488-3703
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:
10/30/2020
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