Federal Register #2026-22886

IRS requests comments on information collection for late reverse QTIP elections

The U.S. Department of the Treasury’s Internal Revenue Service is requesting public comments on an information collection, not seeking products or services. - Government buyer: Department of the Treasury, Internal Revenue Service (IRS); no specific sub-agency or office is identified. - The collection concerns Revenue Procedure 2004-47, which provides a simplified alternative for certain estate executors and trust trustees seeking relief to make a late reverse QTIP election under Internal Revenue Code section 2652. - The collection is being extended without changes and affects individuals and households. - Estimated burden: 6 responses, 9 hours per response, and 54 total annual burden hours. - OEMs, vendors, products, quantities, and contract requirements: none identified; this is not a procurement opportunity.

Description

The IRS is requesting comments on an information collection related to Revenue Procedure 2004-47. The procedure provides certain estate executors and trust trustees a simplified alternative to requesting a letter ruling to seek relief to make a late reverse QTIP election under section 2652 of the Code. The notice describes an extension of the previously approved collection, with no change, affecting individuals and households. The IRS estimates 6 responses and 54 total annual burden hours.

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