IRS Tax Forms to Devour 300K Extra Hours of Your Life
Published Date: 3/28/2025
Notice
Summary
The IRS is asking for approval to keep collecting important tax info from people and businesses to make sure tax credits and deductions are legit. No big changes, but the paperwork time is expected to go up by nearly 300,000 hours. If you want to share your thoughts, you’ve got until April 28, 2025, to speak up!
Analyzed Economic Effects
3 provisions identified: 2 benefits, 1 costs, 0 mixed.
Third‑Party Tax Paperwork Increase
The IRS will continue collecting third‑party certification or documentation and expects paperwork time to increase by 297,453 hours. This collection covers 130,723,849 responses with an average time of 16 minutes per response and total annual burden estimated at 34,228,870 hours. You may comment by April 28, 2025.
Reduced Burden for Form 1099‑SA Filers
The IRS updated its estimate for Form 1099‑SA (distributions from HSA, Archer MSA, or Medicare Advantage MSA) to 10,500 respondents and reports 7,958 fewer responses, which decreases overall burden by 1,114 hours. This is an extension of a currently approved collection and the agency states there is no change to the form itself.
De Minimis Error Safe Harbor Continues
The IRS is extending the collection related to the de minimis error safe harbor that treats certain information returns with small dollar errors as correct for specified penalty purposes. The collection covers elections, revocations, notifications, and record retention for 16,123,292 responses at about 4 minutes each, totaling 992,102 annual burden hours, and the agency reports no change to the collection requirements.
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Key Dates
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