1099-K, Merchant Card and Third Party Payments

Forms and Documents

Document Name	Status
Form 1099-K 1099-K, Merchant Card and Third Party Payments Form	Modified
1545-2205_Supporting_Statement_OCT2012_REV.pdf Supporting Statement A	2012-10-31
IRPAC Comment 28MAR2011.pdf Supplementary Document	2012-10-31
Notice 2011-71.pdf Supplementary Document	2011-08-31
TD 9496.pdf Supplementary Document	2011-02-08
Expiration Explanation.rtf Supplementary Document	2011-02-07

IC Document Collections

IC ID	Document Title	Status
196146	1099-K, Merchant Card and Third Party Payments Form	Modified

ICR Details

OMB Control No: 1545-2205	ICR Reference No: 201210-1545-012
Status: Historical Active	Previous ICR Reference No: 201104-1545-011
Agency/Subagency: TREAS/IRS	Agency Tracking No: ah-2205-012
Title: 1099-K, Merchant Card and Third Party Payments
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 02/28/2013
	Date Received in OIRA: 10/31/2012
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/29/2016	36 Months From Approved	02/28/2013
Responses	2,000	0	2,000
Time Burden (Hours)	680	0	620
Cost Burden (Dollars)	0	0	0

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Abstract: This form is in response to section 3091(a) of Public Law 110-289, the Housing Assistance Tax Act of 2008 (Div. C of the Housing and Economic Recovery Act of 2010). The form reflects payments made in settlement of merchant card and third party network transactions for purchases of goods and/or services made with merchant cards and through third party networks.

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Authorizing Statute(s): US Code: 26 USC 6050W Name of Law: Returns relating to payments made in settlement of payment card and third party network transactions
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	77 FR 50210	08/20/2012
30-day Notice:	Federal Register Citation:	Citation Date:
	77 FR 65052	10/24/2012
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
1099-K, Merchant Card and Third Party Payments	1099-K	Merchant Card for Third Party Payments

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	2,000	2,000	0	0	0	0
Annual Time Burden (Hours)	680	620	0	60	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: Revisions for reporting the most significant merchant category code used when reporting payment transactions have been made and Box 4 has been unshaded and "Federal income tax withheld" have been added for reporting backup withholding under IRC 3406 for tax years beginning after December 31, 2011. This change resulted in an increase of 60 burden hours attributed to program change due to agency discretion.

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Annual Cost to Federal Government: $500,000

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 10/31/2012

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