28 Mar 2025
🏛️IRS Information Collection Notice for Business Compliance Issues
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Multiple Internal Revenue Service (IRS) Information Collection Requests
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.
Agencies
- Treasury Department
Business Impact
$$$ - High
The notice pertains to information collection requests from the IRS which involve compliance and regulatory requirements for businesses, specifically regarding third-party disclosures, health savings accounts, and FATCA. The increase in estimated burden hours may necessitate additional resources for compliance, impacting operational costs for affected businesses.