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:
202304-1545-008
Status:
Historical Inactive
Previous ICR Reference No:
202006-1545-005
Agency/Subagency:
TREAS/IRS
Agency Tracking No:
Ready for Treasury
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:
Comment filed on proposed rule and continue
Conclusion Date:
06/07/2023
Retrieve Notice of Action (NOA)
Date Received in OIRA:
04/24/2023
Terms of Clearance:
OIRA will review upon finalization of the rule.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
12/31/2023
36 Months From Approved
02/29/2024
Responses
30,729
0
30,729
Time Burden (Hours)
1,121,903
0
1,121,903
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. The regulations included in Regulation Identifier Number (RIN) 1545-BI11 require the filer to attach a statement or written appraisal document to Form 706 in support of deductions or claims against the estate allowed by IRC section 2503.
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
US Code:
26 USC 2053
Name of Law: Expenses, Indebtedness, And Taxes
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
1545-BI11
Proposed rulemaking
87 FR 38331
06/28/2022
Federal Register Notices & Comments
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
3
IC Title
Form No.
Form Name
RIN 1545-BI11 Regulatory Requirements
Schedule R-1 (Form 706) - Generation-Skipping Transfer Tax
Sch R-1
Generation-Skipping Transfer Tax
United States Estate (and Generation-Skipping Transfer) Tax Return
706
United States Estate (and Generation-Skipping Transfer) Tax Return
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:
The change in burden for Form 706 is due to better estimates of the number of filers based on current filing data. This decreases the total burden by 16,462 responses and 604,813 hours annually due to Agency Estimate. The addition of the regulatory requirements in IRN 1545-BI11 increases the total burden by 11,042 responses and 23,661 hours annually due to Agency Discretion.
Annual Cost to Federal Government:
$116,559
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:
Juli Kim 202 317-6859 juli.ro.kim@irscounsel.treas.gov
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:
04/24/2023
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