22 Jan 2025
📄IRS Notice on Combined Information Reporting for Business Entities
Agency Collection Activities; Requesting Comments for Revenue Procedure 99-50
Summary
The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the general 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. The IRS is soliciting comments concerning a combined information reporting by a successor business entity.
Agencies
- Treasury Department
- Internal Revenue Service
Business Impact
$$ - Med
The notice discusses combined information reporting by successor business entities, relevant during mergers and acquisitions, thereby impacting compliance and regulatory requirements for businesses. It invites public comments, which might influence how such reporting is managed in the future.