United States Gift (and
Generation-Skipping Transfer) Tax Return
Extension without change of a currently approved collection
No
Regular
12/28/2020
Requested
Previously Approved
36 Months From Approved
01/31/2021
255,500
278,500
1,584,100
1,726,700
0
0
Form 709 is used by individuals to
report transfers subject to the gift and generation-skipping
transfer taxes and to compute these taxes. IRS uses the information
to enforce these taxes and to compute the estate tax.
PL:
Pub.L. 112 - 240 101 Name of Law: American Taxpayer Relief Act
of 2012
US Code: 26
USC 6075 Name of Law: Time for filing estate and gift tax
returns
US Code: 26
USC 6019 Name of Law: Gift tax returns
There are no changes being made
to the form at this time that would affect burden. However, the
agency is updating the estimated number of respondents based on the
most recent filing data, resulting in a decrease in respondents and
overall annual burden hours. Previous estimated respondents
decreased by 23,000 (278,500 to 255,500), resulting in an annul
overall decrease of 142,600 hours (1,726,700 to 1,584,100 hours).
.
$78,959
No
Yes
Yes
No
No
No
No
P Shaughness 2029271885
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.