Federal Register #1545NEW

IRS Seeks Public Comment on Long-Term Care Premiums Paid Statement (Form 1099LPS) Information Collection

This notice from the Internal Revenue Service (IRS) seeks public input on a proposed information collection related to the Long-Term Care Premiums Paid Statement (Form 1099LPS): - Government Buyer: - Internal Revenue Service (IRS), Department of the Treasury - Purpose: - Request for public comment on the necessity, utility, and burden of collecting information via Form 1099LPS - Mandated by sections 401(a)(39)(E) and 6050Z of the Internal Revenue Code - Scope: - Applies to issuers of certified long-term care insurance who must report premiums paid - Estimated 115 respondents with a total annual burden of 23 hours - Products/Services: - No products or services are being procured - No OEMs or vendors are involved - Unique Requirements: - Focus is on regulatory compliance and public feedback, not procurement or acquisition activities

Description

The Internal Revenue Service (IRS) is requesting public comments on a new information collection related to the Long-Term Care Premiums Paid Statement, using Form 1099LPS. This collection is mandated by sections of the Internal Revenue Code and involves issuers of certified long-term care insurance reporting premiums paid. The IRS seeks to assess the burden and utility of this collection, inviting comments by June 8, 2026. The estimated number of respondents is 115, with an estimated total annual burden of 23 hours.

View original listing