Proposed Extension of Information Collection Request Submitted for Public Comment; Comment Request Concerning Information Reporting for Payments Made in Settlement of Payment Card and Third-Party Network Transactions
| Published date | 09 April 2019 |
| Citation | 84 FR 14195 |
| Record Number | 2019-06921 |
| Section | Notices |
| Court | Internal Revenue Service |
Federal Register, Volume 84 Issue 68 (Tuesday, April 9, 2019)
[Federal Register Volume 84, Number 68 (Tuesday, April 9, 2019)]
[Notices]
[Pages 14195-14196]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-06921]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Extension of Information Collection Request Submitted
for Public Comment; Comment Request Concerning Information Reporting
for Payments Made in Settlement of Payment Card and Third-Party Network
Transactions
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
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SUMMARY: The Internal Revenue Service, as part of its continuing effort
to reduce paperwork and respondent burden, invites the public and other
Federal agencies to take this opportunity to comment on proposed and/or
continuing information collections, as required by the Paperwork
Reduction Act of 1995. Currently, the IRS is soliciting comments
concerning information reporting for payments made in settlement of
payment card and third-party network transactions.
DATES: Written comments should be received on or before June 10, 2019
to be assured of consideration.
ADDRESSES: Direct all written comments to Laurie Brimmer, Internal
Revenue Service, Room 6129, 1111 Constitution Avenue NW, Washington, DC
20224. Requests for additional information or copies of the regulations
should be directed to R. Joseph Durbala, at Internal Revenue Service,
Room 6129, 1111 Constitution Avenue NW, Washington DC 20224, or through
the internet, at [email protected].
SUPPLEMENTARY INFORMATION:
Title: Information Reporting for Payments Made in Settlement of
Payment Card and Third-Party Network Transactions.
OMB Number: 1545-2205.
Regulation Project Number: TD 9496, Form 1099-K.
Abstract: This information collection covers final regulations
implementing amendments to the Income Tax Regulations (26 CFR part 1)
relating to information reporting under sections 6041, 6041A, 6050W,
and 6051 of the Internal Revenue Code (Code). The form reflects
payments made in settlement of merchant card and third-party network
transactions for purchases of goods and/or services made with merchant
cards and through third-party networks.
Current Actions: There is no change to the burden previously
approved by OMB.
Type of Review: Extension of a currently approved collection.
[[Page 14196]]
Affected Public: Individuals or households, Business or other for-
profit groups, Not-for-profit institutions, Farms, Federal Government,
State, Local, or Tribal Governments.
Estimated Number of Respondents: 9,436,100.
Estimated Time per Respondent: 29 minutes.
Estimated Total Annual Burden Hours: 4,529,328.
The following paragraph applies to all the collections of
information covered by this notice:
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless the collection of
information displays a valid OMB control number.
Books or records relating to a collection of information must be
retained if their contents may become material in the administration of
any internal revenue law. Generally, tax returns and tax return
information are confidential, as required by 26 U.S.C. 6103.
Desired Focus of Comments: The Internal Revenue Service (IRS) is
particularly interested in comments that:
Evaluate whether the proposed collection of information is
necessary for the proper performance of the functions of the agency,
including whether the information will have practical utility;
Evaluate the accuracy of the agency's estimate of the
burden of the proposed collection of information, including the
validity of the methodology and assumptions used;
Enhance the quality, utility, and clarity of the
information to be collected; and
Minimize the burden of the collection of information on
those who are to respond, including using appropriate automated,
electronic, mechanical, or other technological collection techniques or
other forms of information technology, e.g., by permitting electronic
submissions of responses.
Comments submitted in response to this notice will be summarized
and/or included in the ICR for OMB approval of the extension of the
information collection; they will also become a matter of public
record.
Approved: April 2, 2019.
R. Joseph Durbala,
IRS Tax Analyst.
[FR Doc. 2019-06921 Filed 4-8-19; 8:45 am]
BILLING CODE 4830-01-P
