United States Estate (and Generation-Skipping Transfer) Tax Return

OMB Control No: 1545-0015	ICR Reference No: 202006-1545-005
Status: Active	Previous ICR Reference No: 201702-1545-006
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: United States Estate (and Generation-Skipping Transfer) Tax Return
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 12/08/2020
Retrieve Notice of Action (NOA)	Date Received in OIRA: 10/30/2020
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2023	36 Months From Approved	12/31/2020
Responses	30,729	0	1,082,700
Time Burden (Hours)	1,121,903	0	2,048,710
Cost Burden (Dollars)	0	0	0

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Abstract: Form 706 is used by executors to report and compute the Federal Estate Tax imposed by IRC section 2001 and the Federal Generation Skipping Tax, imposed by IRC section 2601. IRS uses the information to enforce these taxes and to verify that the tax has been properly computed. Schedule R-1 (Form 706) serves as a payment voucher for the Generation-Skipping Transfer (GST) tax imposed on a direct skip from a trust, which the trustee of the trust, must pay.

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Authorizing Statute(s): US Code: 26 USC 2001 Name of Law: Imposition and rate of tax    US Code: 26 USC 2601 Name of Law: Tax imposed    US Code: 26 USC 2603 Name of Law: Liability for tax

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 43943	07/20/2020
30-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 86415	10/28/2020
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

IC Title Form No. Form Name Form 706 Continuation Schedule Form 706 contination schedule CONTINUATION SCHEDULE Schedule A - Real estate Schedule A Real estate Sch. A-1 - Section 2032A Valuation Sch. A-1 Section 2032A Valuation Schedule O - Charitable, Public, and Similar Gifts and Bequests Sch O Charitable, Public, and Similar Gifts and Bequests Schedule B - Stocks and Bonds Sch B Stocks and Bonds Schedule C - Mortgages, Notes, and Cash Sch C Mortgages, Notes, and Cash Schedule D - Insurance on the Decedent’s Life Sch D Insurance on the Decedent¿s Life Schedule E - Jointly Owned Property Sch E Jointly Owned Property Schedule R-1 - Generation-Skipping Transfer Tax (Form 706) Sch R-1 Generation-Skipping Transfer Tax United States Estate (and Generation-Skipping Transfer) Tax Return 706 United States Estate (and Generation-Skipping Transfer) Tax Return Schedule PC - Protective Claim for Refund Sch PC Protective Claim for Refund Worksheet for Schedule Q—Credit for Tax on Prior Transfers Schedule F - Other Miscellaneous Property Not Reportable Under Any Other Schedule Sch F Other Miscellaneous Property Not Reportable Under Any Other Schedule Schedule G - Transfers During Decedent’s Life Sch G Transfers During Decedent¿s Life Schedule H - Powers of Appointment Sch H Powers of Appointment Schedule I - Annuities Sch I Annuities Schedule J - Funeral Expenses and Expenses Incurred in Administering Property Subject to Claims Sch J Funeral Expenses and Expenses Incurred in Administering Property Subject to Claims Schedule U - Qualified Conservation Easement Exclusion Sch U Qualified Conservation Easement Exclusion Schedule R - Generation-Skipping Transfer Tax Sch R Generation-Skipping Transfer Tax Schedule M - Bequests, etc., to Surviving Spouse Sch M Bequests, etc., to Surviving Spouse Schedule Q - Credit for Tax on Prior Transfers Sch Q Credit for Tax on Prior Transfers Schedule P - Credit for Foreign Death Taxes Sch P Credit for Foreign Death Taxes Schedule L - Net Losses During Administration and Expenses Incurred in Administering Property Not Subject to Claims Sch L Net Losses During Administration and Expenses Incurred in Administering Property Not Subject to Claims Schedule K - Debts of the Decedent, and Mortgages and Liens Sch K Debts of the Decedent, and Mortgages and Liens

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ICR Summary of Burden

	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	30,729	1,082,700	0	-961,100	-90,871	0
Annual Time Burden (Hours)	1,121,903	2,048,710	0	-1,131,248	204,441	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: Changes to the burden estimates of Form 706 are due to the reduction in filers based on the most recent filing data, from 117,00 to 30, 529 responses and reduction in burden hours from 909,090 to 1,121,635. Prior to this collection the schedules that were embedded in Form 706 was counted separately resulting in duplication counting of burden estimates. Also, Form Schedule R-1 (706) no longer embedded in Form 706, added to the collection which increased the responses by 200 and the burden hours by 268. Overall, the total responses are 30729 and the total burden hours are 1, 121, 903. We are making this submission to renew the OMB approval and revise the collection to add Form Schedule R-1 (Form 706).

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     Yes

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     Yes

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

Agency Contact: Danielle Behler 859 488-3703

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Common Form ICR:  No

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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:
		(a) It is necessary for the proper performance of agency functions;
		(b) It avoids unnecessary duplication;
		(c) It reduces burden on small entities;
		(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
		(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
		(f) It indicates the retention periods for recordkeeping requirements;
		(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
			(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;
		(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
		(i) It uses effective and efficient statistical survey methodology (if applicable); and
		(j) It makes appropriate use of information technology.
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.
Certification Date: 10/30/2020

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