Approved through
August 1995. We are approving issuance of this form because the
collection is required by temporary regulations issued on December
27, 1993. Our understanding is that IRS will issue an announcement
if reporting rquirements are modified in response to public
comments on the temporary regulations. You may omit printing the
expiration date on this form.
Inventory as of this Action
Requested
Previously Approved
08/31/1995
08/31/1995
5,000,000
0
0
850,000
0
0
0
0
0
FORM 1099-C IS USED FOR REPORTING
CANCELLED DEBT AS REQUIRED BY SECTIO 6050P OF THE INTERNAL REVENUE
CODE. IT IS USED TO VERIFY THAT DEBTORS ARE CORRECTLY REPORTING
THEIR INCOME.
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.