View Information Collection Request (ICR) Package

View ICR - Agency Submission

OMB Control No: 1545-0023	ICR Reference No: 202601-1545-006
Status: Received in OIRA	Previous ICR Reference No: 202406-1545-001
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Quarterly Federal Excise Tax Return
Type of Information Collection: Revision of a currently approved collection	Common Form ICR: No
Type of Review Request: Regular	Date Submitted to OIRA: 01/30/2026

	Requested	Previously Approved
Expiration Date	36 Months From Approved	09/30/2027
Responses	206,700	205,400
Time Burden (Hours)	3,105,408	2,746,000
Cost Burden (Dollars)	0	0

Authorizing Statute(s): US Code: 26 USC 5000D Name of Law: Designated drugs during noncompliance periods
   US Code: 26 USC 4475 Name of Law: Imposition Of Tax
   US Code: 26 USC 4081 Name of Law: Imposition of tax
   US Code: 26 USC 4461 Name of Law: Imposition of tax
   US Code: 26 USC 4681 Name of Law: Imposition of tax
   US Code: 26 USC 4682 Name of Law: Definitions and special rules

Citations for New Statutory Requirements: PL: Pub.L. 119 - 21 70604 Name of Law: The One Big Beautiful Bill
US Code: 26 USC 4475 Name of Law: Imposition Of Tax

ICR Summary of Burden

	Total Request	Previously Approved	Change Due to New Statute	Change Due to Adjustment in Estimate
Annual Number of Responses	206,700	205,400	500	800
Annual Time Burden (Hours)	3,105,408	2,746,000	346,480	12,928
Annual Cost Burden (Dollars)	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: No

Burden Reduction Due to:

Short Statement: The One Big Beautiful Bill [PL 119-21 sec. 70604] created the Transfer Remittance Tax under new IRC section 4475. IRS No. 155 will be used to report this tax. Form 720 is being modified to add a new line in Part I on page 2 under Other Excise Tax for IRS No. 155 Remittance transfer tax. This increases the number of responses by 500 and the burden hours by 346,480 annually due to New Statute. The estimated number of respondents has changed based on current filing data. This increases the number of responses by 800 and the burden hours by 12,928 due to Agency Estimate.

Annual Cost to Federal Government: $369,637

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]? Yes

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: Jason Cowdin 512 339-5342

Something went wrong when downloading this file. If you have any questions, please send an email to risc@gsa.gov.