Generation-Skipping Transfer Tax Return for Distributions

ICR 201909-1545-025

OMB: 1545-1144

Federal Form Document

Forms and Documents
Document
Name
Status
Form
Modified
Supporting Statement A
2019-09-30
IC Document Collections
ICR Details
1545-1144 201909-1545-025
Active 201607-1545-009
TREAS/IRS
Generation-Skipping Transfer Tax Return for Distributions
Extension without change of a currently approved collection   No
Regular
Approved without change 02/10/2020
Retrieve Notice of Action (NOA) 12/27/2019
OMB understands that the IRS is currently in the process of revising the methodology it uses to estimate burden and costs. OMB expects that future ICRs under this OMB control number will include dollar estimates of annual burden costs to taxpayers calculated using this revised methodology.
  Inventory as of this Action Requested Previously Approved
02/28/2023 36 Months From Approved 02/29/2020
1,000 0 1,000
980 0 980
0 0 0

Form 706-GS(D) is used by distributees to compute and report the Federal Generation Skipping Transfer tax imposed by IRC section 2601. IRS uses the information to enforce this tax and to verify that the tax has been properly computed. The distributee will file a single Form 706 GS(D) annually and will report on it all taxable distributions from any trust received during the year. An individual will not file Form 706 GS(D) for any year in which he/she received no taxable distributions.

US Code: 26 USC 2601 Name of Law: Tax imposed.
  
None

Not associated with rulemaking

  84 FR 48384 09/13/2019
84 FR 71531 12/27/2019
No

1
IC Title Form No. Form Name
Generation-Skipping Transfer Tax Return for Distributions 706 GS D Generation-Skipping Transfer Tax Return for Distributions

  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 1,000 1,000 0 0 0 0
Annual Time Burden (Hours) 980 980 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$10,024
No
    Yes
    Yes
No
No
No
Uncollected
Laurie Harmon 859 669-3124

  No

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.
12/27/2019


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