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OMB Control No: 1545-2205	ICR Reference No: 202601-1545-004
Status: Received in OIRA	Previous ICR Reference No: 202301-1545-003
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Information Reporting for Payments Made in Settlement of Payment Card and Third-Party Network Transactions
Type of Information Collection: Revision of a currently approved collection	Common Form ICR: No
Type of Review Request: Regular	Date Submitted to OIRA: 04/30/2026

	Requested	Previously Approved
Expiration Date	36 Months From Approved	05/31/2026
Responses	13,340,100	10,400,000
Time Burden (Hours)	6,403,248	4,992,000
Cost Burden (Dollars)	0	0

ICR Summary of Burden

	Total Request	Previously Approved	Change Due to New Statute
Annual Number of Responses	13,340,100	10,400,000	2,940,100
Annual Time Burden (Hours)	6,403,248	4,992,000	1,411,248
Annual Cost Burden (Dollars)	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: No

Burden Reduction Due to:

Short Statement: To comply with provisions of Public Law 119-21 (One Big Beautiful Bill Act), two lines were added to Form 1099-K to include cash tips and the Treasury tipped occupation code. This change is anticipated to increase the estimated annual number of responses by 3,694,100 and will increase the total burden by 1,773,168 hours, due to the new statute.

Annual Cost to Federal Government: $60,213

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. No

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. 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? No

Agency Contact: Christine Best 859 320-3410 christine.a.best@irs.gov

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