Under IRC section 6166, an estate may
elect to pay the estate tax in installments over 14 years if
certain conditions are met. If the IRS determines that the
governments interest in collecting estate tax is sufficiently at
risk, it may require the estate provide a bond. Alternatively, the
executor may elect to provide a lien in lieu of bond. Under section
6324A(c) and the regulations thereunder (OMB 1545-0757), to make
this election the executor must submit a lien agreement to the IRS.
Form 13925 is a form lien agreement that executors may use for this
purpose.
Recent legislation has
made normal processing time impractical. The form must be made
available to the public ASAP.
US Code:
26
USC 6324A(c) Name of Law: Agreement
US Code: 26
USC 6166 Name of Law: Extension of time for payment of estate
tax where estate consists largely of interest in closely hel
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.