🏦IRS Proposes Reporting Requirements for Investment Trusts
Proposed Collection; Comment Request for Regulation Project
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 continuing information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning reporting requirements for widely held fixed investment trusts.
Agencies
- Treasury Department
- Internal Revenue Service
Business Impact
$$ - Med
The regulation proposes information collection related to widely held fixed investment trusts, requiring businesses to provide specific reporting as mandated by the IRS. This affects compliance and could impose additional administrative burdens on businesses involved in trusts, potentially increasing operational costs and regulatory adherence activities.