Agency Information Collection Activities; Submission for OMB Review; Comment Request; Multiple Internal Revenue Service Information Collection Requests

DEPARTMENT OF THE TREASURY

Agency Information Collection Activities; Submission for OMB Review; Comment Request; Multiple Internal Revenue Service Information Collection Requests

AGENCY:

Departmental Offices, U.S. Department of the Treasury.

ACTION:

Notice of information collection; request for comment.

SUMMARY:

The Department of the Treasury will submit the following information collection requests to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, on or after the date of publication of this notice. The public is invited to submit comments on these requests.

DATES:

Comments should be received on or before July 30, 2026 to be assured of consideration.

ADDRESSES:

Written comments and recommendations for the proposed information collection should be sent within 30 days of publication of this notice to

www.reginfo.gov/public/do/PRAMain.

Find this particular information collection by selecting “Currently under 30-day Review—Open for Public Comments” or by using the search function.

FOR FURTHER INFORMATION CONTACT:

Copies of the submissions may be obtained from Spencer W. Clark by emailing

PRA@treasury.gov,

calling (202) 927-5331, or viewing the entire information collection request at

www.reginfo.gov.

SUPPLEMENTARY INFORMATION:

Internal Revenue Service (IRS)

1. Title:

Original Issue Discount.

OMB Control Number:

1545-0117.

Type of Request:

Extension of a currently approved collection.

Description:

Form 1099-OID is used for reporting original issue discount as required by section 6049 of the Internal Revenue Code. It is used to verify that income earned on discount obligations is properly reported by the recipient.

Affected Public:

Business or other for-profit.

Estimated Number of Responses:

5,832,633.

Estimated Time per Response:

23 minutes.

Estimated Total Annual Burden Hours:

2,274,727.

2. Title:

Qualified Disclaimers of Property.

OMB Control Number:

1545-0959.

Type of Request:

Extension of a currently approved collection.

Description:

Internal Revenue Code section 2518 allows a person to disclaim an interest in property received by gift or inheritance. The interest is treated as if the disclaimant never received or transferred such interest for Federal gift tax purposes. A qualified disclaimer must be in writing and delivered to the transferor or trustee.

Affected Public:

Individuals or Households.

Estimated Number of Responses:

2,000.

Estimated Time per Response:

30 minutes.

Estimated Total Annual Burden Hours:

1,000.

3. Title:

Buildings qualifying for carryover allocations.

OMB Control Number:

1545-0990.

Type of Request:

Extension of a currently approved collection.

Description:

State housing credit agencies (Agencies) are required by Internal Revenue Code section 42(l)(3) to report annually the amount of low-income housing credits that they allocated to qualified buildings during the year. Agencies report the amount allocated to the building owners and to the IRS in Part I of Form 8609. Carryover allocations are reported to the Agencies in carryover allocation documents. The Agencies report the carryover allocations to the IRS on Schedule A (Form 8610). Form 8610 is a transmittal and reconciliation document for Forms 8609, Schedule A (Form 8610), binding agreements, and election statements.

Affected Public:

State, local, or tribal governments.

Estimated Number of Responses:

1,353.

Estimated Time per Response:

4 hours, 58 minutes.

Estimated Total Annual Burden Hours:

6,738.

4. Title:

Information Return for Real Estate Mortgage Investment Conduits (REMICs) and Issuers of Collateralized Debt Obligations.

OMB Control Number:

1545-1099.

Type of Request:

Extension of a currently approved collection.

Description:

Current regulations require real estate mortgage investment conduits (REMICs) to provide Forms 1099 to true holders of interests in these investment vehicles. Because of the complex computations required at each level and the potential number of nominees, the ultimate investor may not receive a Form 1099 and other information necessary to prepare their tax return in a timely fashion. Form 8811 collects information for publishing by the IRS so that brokers can contact REMICs to request the financial information and timely issue Forms 1099 to holders.

Affected Public:

Businesses or other for-profit organizations.

Estimated Number of Responses:

3,000.

Estimated Time per Response:

4 hours, 23 minutes.

Estimated Total Annual Burden Hours:

13,140.

5. Title:

Revenue Procedure 97-22.

OMB Control Number:

1545-1533.

Type of Request:

Extension of a currently approved collection.

Description:

Revenue Procedure 97-22 provides guidance to taxpayers that maintain books and records by using an electronic storage system. The collection requirements within Section 4 of the Revenue Procedure 97-22 are required to ensure that records maintained in an electronic storage system will constitute records within the meaning of section 6001. Section 4 explains the system requirements for electronic storage; and requires taxpayers to maintain records about the system description, use, security, and controls for review upon request.

Affected Public:

Individuals or Households; Businesses or other for-profit organizations; not-for-profit institutions; farms; state, local or tribal governments.

Estimated Number of Responses:

50,200.

Estimated Time per Response:

20 hours, 1 minute.

Estimated Total Annual Burden Hours:

1,000,400.

6. Title:

Employer-Designed Tip Reporting Program (EmTRAC) for the Food and Beverage Industry.

OMB Control Number:

1545-1716.

Type of Request:

Extension of a currently approved collection.

Description:

Information is required by the Internal Revenue Service in its compliance efforts to assist employers in the food and beverage industry that have employees who receive both cash and charged tips; in understanding and complying with Internal Revenue Code section 6053(a), which requires employees to report all their tips monthly to their employers.

Affected Public:

Businesses or other for-profit organizations.

Estimated Number of Responses:

20.

Estimated Time per Response:

44 hours.

Estimated Total Annual Burden Hours:

870.

7. Title:

Special Rules for Long-Term Contracts Under Section 460.

OMB Control Number:

1545-1732.

Type of Request:

Extension of a currently approved collection.

Description:

IRC section 460 generally provides rules that requires taxpayers to determine taxable income from a long-term contract using the percentage-of-completion (PCM) method and pay, or be entitled to receive, interest computed using the look-back method.

TD 8775 added Treasury Regulations section 1.460-6(j), providing taxpayers with the requirements to make an election not to apply the look-back method to long-term contracts in de minimis cases.

TD 8929 added Treasury Regulations section 1.460-1(e)(4), requiring taxpayers to attach a statement with specific information to their income tax return if they sever an agreement or aggregate two or more agreements during the taxable year.

TD 8995, as amended by TD 9137, added Treasury Regulations section 1.460-6(g)(3)(ii)(D) providing rules concerning a mid-contract change in taxpayer of a contract accounted for under a long-term contract method of accounting. The regulation requires the previous taxpayer to provide specific information to the new taxpayer to help the new taxpayer apply the look-back method when the income from a long-term contract has been previously reported by another taxpayer.

Affected Public:

Individuals or Households; Businesses or other for-profit organizations.

Estimated Number of Responses:

75,000.

Estimated Time per Response:

21 minutes.

Estimated Total Annual Burden Hours:

26,500.

8. Title:

Consent to Disclose Tax Compliance Check.

OMB Control Number:

1545-1856.

Type of Request:

Extension of a currently approved collection.

Description:

Form 14767 is used to authorize the Internal Revenue Service (IRS) to prepare a tax compliance report that discloses confidential tax information to a third-party appointee for Federal employment.

Affected Public:

Individuals or Households.

Estimated Number of Responses:

46,000.

Estimated Time per Response:

10 minutes.

Estimated Total Annual Burden Hours:

7,664.

9. Title:

Affordable Care Act Internal Claims and Appeals and External review Disclosures.

OMB Control Number:

1545-2182.

Type of Request:

Extension of a currently approved collection.

Description:

This collection of information request includes the information collection and third- party notice and disclosure requirements that a plan must satisfy under final regulations implementing provisions of the Affordable Care Act pertaining to internal claims and appeals, and the external review process. The No Surprise Act extends the balance billing protections related to external reviews to grandfathered plans. The definitions of group health plan and health insurance issuer that are cited in section 110 of the No Surprises Act include both grandfathered and non-grandfathered plans and coverage. Accordingly, the practical effect of section 110 of the No Surprises Act is that grandfathered health plans must provide external review for adverse benefit determinations involving benefits subject to these surprise billing protections. Grandfathered and non-grandfathered plans must provide claimants, free of charge, any new or additional evidence considered, relied upon, or generated by the plan or issuer in connection with the claim, and the requirement to comply either with a State external review process or a Federal review process. The disclosure requirements of the Federal external review process require (1) a preliminary review by plans of requests for external appeals; (2) Independent Review Organizations (IROs) to notify claimants of eligibility and acceptance for external review; (3) the plan or issuer to provide IROs with documentation and other information considered in making adverse benefit determination; (4) the IRO to forward to the plan or issuer any information submitted by the claimant; (5) plans to notify the claimant and IRO if it reverses its decision; (6) the IRO to notify the claimant and plan of the result of the final external appeal; (7) the IRO to maintain records for six years.

Affected Public:

Business or other for-profit.

Estimated Number of Respondents:

1,294,150.

Total Estimated Number of Responses:

187,601.

Estimated Total Annual Burden Hours:

18,370.

10. Title:

Bond Tax Credit.

OMB Control Number:

1545-2197.

Type of Request:

Extension of a currently approved collection.

Description:

Issuers of certain tax credit bonds (or their agents) and recipients of Form 1097-BTC from the bond issuer or agent, such as mutual funds or partnerships, who are further distributing the credit must file Form 1097-BTC for each tax credit distributed from the following tax credit bonds: New clean renewable energy bonds, Qualified energy conservation bonds, Qualified zone academy bonds, Qualified school construction bonds, Clean renewable energy bonds, and Build America bonds (Tax Credit).

Affected Public:

Businesses or other for-profit organizations.

Estimated Number of Responses:

967.

Estimated Time per Response:

19 minutes.

Estimated Total Annual Burden Hours:

306.

11. Title:

Trump Account Elections.

OMB Control Number:

1545-2336.

Type of Request:

Extension of a currently approved collection.

Description:

Section 70204 of the One Big Beautiful Bill, Public Law 119-21 established “Trump Accounts,” a new type of tax-advantaged savings account for children. These accounts are for children under 18. Form 4547 and Form 8879-TA will be used to make the elections to establish the accounts.

Affected Public:

Individuals or Households.

Estimated Number of Responses:

85,000,000.

Estimated Time per Response:

1 hour, 28 minutes.

Estimated Total Annual Burden Hours:

64,850,000.

12. Title:

Form 8609, Low-Income Housing Credit Allocation Certification; Form 8609-A, Annual Statement for Low-Income Housing Credit.

OMB Control Number:

1545-0988.

Type of Request:

Extension of a currently approved collection.

Description:

Owners of residential low-income rental buildings are allowed a low-income housing credit for each qualified building over a 10-year credit period. Form 8609 can be used to obtain a housing credit allocation from the housing credit agency. A separate Form 8609 must be issued for each building in a multiple building project. Form 8609 is also used to certify certain information. Form 8609-A is filed by a building owner to report compliance with the low-income housing provisions and calculate the low-income housing credit. Form 8609-A must be filed by the building owner for each year of the 15-year compliance period. File one Form 8609-A for the allocation(s) for the acquisition of an existing building and a separate Form 8609-A for the allocation(s) for rehabilitation expenditures. Treasury Decision 10036 contains final regulations setting forth recordkeeping and reporting requirements for the average income test under section 42(g)(1)(C) of the Internal Revenue Code.

Affected Public:

Businesses or other for-profit organizations; not-for-profit institutions; and farms.

Estimated Number of Responses:

33,000.

Estimated Time per Response:

12 hours, 58 minutes.

Estimated Total Annual Burden Hours:

428,265.

13. Title:

Long-Term Care Premiums Paid Statement.

OMB Control Number:

1545-NEW.

Type of Request:

New collection.

Description:

Internal Revenue Code (IRC) section 401(a)(39)(E) respectively defines a long-term care premium statement and its requirements. IRC section 6050Z defines requirements of reporting, statements to be furnished, contracts or coverage covering more than one insured, and statements to be furnished on request. Issuers of certified long-term care insurance that files a long-term care premium statement use Form 1099-LPS to report long-term care insurance contracts.

Affected Public:

Individuals or Households; Businesses or other for-profit organizations.

Estimated Number of Responses:

7,500.

Estimated Time per Response:

12 minutes.

Estimated Total Annual Burden Hours:

1,500.

Authority:

44 U.S.C. 3501

et seq.

Spencer W. Clark,

Treasury PRA Clearance Officer.

[FR Doc. 2026-13188 Filed 6-29-26; 8:45 am]

BILLING CODE 4831-GV-P