3 Jul 2025
📝IRS Notice on Material Advisor Disclosure Activities
Agency Collection Activities; Requesting Comments Request for Form 8918
Summary
In accordance with the Paperwork Reduction Act of 1995, the IRS is inviting comments on the information collection request outlined in this notice.
Agencies
- Treasury Department
- Internal Revenue Service
Business Impact
$$ - Med
The content outlines a request for comments on Form 8918 regarding material advisor disclosures. Business owners who act as material advisors must comply with IRS requirements, impacting their operational burden and legal responsibilities. The process involves estimated considerable time and effort, potentially affecting business resources and financial reporting.