IRS will
resubmit the collection with a more detailed explanation on why
there was a reduction of 2,384,374 burden hours attributed to a
program change.
Inventory as of this Action
Requested
Previously Approved
03/31/2016
03/31/2016
06/30/2016
79,480,844
0
79,480,844
24,639,062
0
24,639,062
0
0
0
Form 1099-MISC is used by payers to
report payments of $600 or more of rents, prizes and awards,
medical and health care payments, nonemployee compensation, and
crop insurance proceeds, $10 or more of royalties, any amount of
fishing boat proceeds, certain substitute payments, golden
parachute payments, and an indication of direct sales of $5,000 or
more.
US Code:
26
USC 6045(d) Name of Law: Statements required in case of certain
substitute payments.
US Code: 26
USC 6050A Name of Law: Reporting requirements of certain
fishing boat operators.
US Code: 26
USC 6041 Name of Law: Information at source.
An adjustment has been made to
the number of respondents for this reporting cycle and reflects an
increase of 1,436,051 responses and 402,044 burden hours. Boxes 11,
Foreign tax paid, and 12, Foreign country or U.S. possession, have
been deleted from the Form 1099-MISC. This information is to be
reported on Form 8966, Foreign Asset Tax Compliance Act Report. A
reduction of 2,384,374 burden hours is attributed to program
change.
$346,896
No
No
No
No
No
Uncollected
Janice Martin 202
622-3312
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.