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.