IRS Seeks Comments on Same-Old Investment Trust Paperwork Burden
Published Date: 3/27/2025
Notice
Summary
The IRS wants your thoughts on the paperwork rules for widely held fixed investment trusts, which mostly affect businesses. They’re not changing the rules but need to keep the current system going, which means about 1,200 businesses spend around 2 hours each year on this. If you have ideas or concerns, send your comments by May 27, 2025—no extra costs or new forms, just a chance to speak up!
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Trustees must send Form 1099
Under regulation section 1.671-5, the trustee or middleman who holds an interest in a widely held fixed investment trust must provide a Form 1099 to the IRS and a tax information statement to the investor. The trust must also provide more detailed tax information to middlemen and certain other persons upon request.
Paperwork burden stays unchanged
The IRS is extending the current information collection without changes. The estimated workload remains about 1,200 respondents spending about 2 hours each per year, for an estimated total of 2,400 annual burden hours, and no new forms or costs are being added.
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Key Dates
Department and Agencies
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