IRS Requests Feedback on Multiple Tax Form Information Collections
Published Date: 4/28/2026
Notice
Summary
The IRS is updating some tax forms and info collections that affect businesses, nonprofits, and individuals who use heavy highway vehicles or handle payment card transactions. They’re asking for public feedback by May 28, 2026, before finalizing these changes. These updates aim to keep tax reporting clear and accurate, with no new fees but a big time commitment for some filers.
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Analyzed Economic Effects
6 provisions identified: 1 benefits, 3 costs, 1 mixed.
Heavy Highway Vehicle Tax Reporting Burden
If you file the Heavy Highway Vehicle Use Tax Return (Forms 2290 and 2290‑SP) to report the tax under section 4481, the IRS estimates 965,100 annual responses and an average of 16 hours 33 minutes per response, totaling about 15,972,406 annual burden hours. The agency submitted a revision of this currently approved collection for OMB review.
Expanded 1099‑K Reporting Burden
Form 1099‑K revisions implementing final regulations will apply to payments made in settlement of merchant card and third‑party network transactions; the IRS estimates 13,340,100 respondents, 28 minutes per response, and about 6,403,248 total annual burden hours. This is a revision of the currently approved information collection submitted for OMB review.
Advanced Ruling Info for Leveraged Leases
Revenue Procedure 2001‑29 (leveraged leases) sets out information and representations taxpayers must furnish when requesting advance rulings; the IRS estimates 10 respondents with about 80 hours per response (800 annual burden hours). The IRS is submitting an extension of this currently approved collection for review.
Safe Harbor for Reverse Like‑Kind Exchanges
Revenue Procedure 2000‑37 (as modified) provides a safe harbor for reverse like‑kind exchanges under Sec. 1031 so a transaction using a 'qualified exchange accommodation arrangement' will qualify for non‑recognition treatment; the IRS estimates 1,600 respondents, 2 hours per response, and 3,200 total annual burden hours. The IRS submitted an extension of this approved collection.
Source Rules for Space, Ocean, Communications Income
Final regulations under TD 9305 govern source rules for income from certain space and ocean activities and for transmission of communications; the IRS estimates 250 respondents, 5 hours per response, and 1,500 total annual burden hours. These regulations primarily affect persons who derive income from activities conducted in space or international waters and from communications transmissions.
Reimbursable Agreement and SOI User Fee Forms
Form 14417 (Reimbursable Agreement--Non‑Federal Entities) and Form 14417‑A (Statistics of Income–User Fee) are used by state, local, and tribal governments to enter reimbursable agreements and to purchase aggregate tax data; the IRS estimates 65 respondents, 32 minutes per response, and 35 total annual burden hours. The IRS submitted an extension of this currently approved collection.
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