Federal Register #2026-15767

IRS Requests Public Comment on Information Collection for Partnership Interest Transfers

This opportunity is a request for public comment from the Internal Revenue Service (IRS), under the Department of the Treasury, regarding information collection requirements for withholding and reporting on transfers of partnership interests. - Government Buyer: - Department of the Treasury - Internal Revenue Service (IRS) - No OEMs or commercial vendors are mentioned, as this is not a procurement for products or services. - Products/Services Requested: - Information collection activities including certifications, notifications, partnership statements, and recordkeeping related to partnership interest transfers - Applies to transferors, transferees, partnerships, brokers, and other affected parties - Notable Requirements: - The IRS seeks feedback on the necessity, accuracy, and burden of these information collection requirements - Suggestions for improvement and burden reduction are encouraged - The information is used to administer statutory withholding and reporting, determine exceptions or adjustments, and ensure proper tax reporting and collection

Description

The Internal Revenue Service (IRS) is requesting comments on the information collection related to withholding and information reporting for transfers of partnership interests. This collection involves certifications, notifications, partnership statements, and recordkeeping by transferors, transferees, partnerships, brokers, and other affected parties. The information is used to administer statutory withholding and reporting requirements, determine exceptions or adjustments, and ensure proper tax reporting and collection. The IRS invites public comments to assess and minimize the burden of this information collection.

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