IRS Asks Public Input on Tax Payment Delay Forms
Published Date: 3/31/2026
Notice
Summary
The IRS is asking for public feedback on keeping some tax forms and rules the same, like extending payment deadlines for those facing financial hardship and handling foreign tax credits. This affects individuals, businesses, and households who use these forms. Comments are due by April 30, 2026, so don’t miss your chance to weigh in!
Analyzed Economic Effects
4 provisions identified: 2 benefits, 1 costs, 1 mixed.
Provisional Foreign Tax Credit Election
Taxpayers who remit contested foreign income taxes to a foreign country may elect a provisional foreign tax credit under IRC sections 901 and 905 by entering into a provisional foreign tax credit agreement and filing Form 7204. As a condition of the election, the taxpayer agrees not to assert the statute of limitations on assessment as a defense for three years from the year the IRS is notified of the contest resolution. The notice estimates 11,400 respondents, 2 hours per response, and 22,800 annual burden hours.
401(k) Matching for Student Loan Payments
TD 9169 and Notice 2024-63 require plan notices and information needed for employer matching contributions on qualified student loan payments (QSLPs), so payments on qualified education loans may be treated as QSLPs on which an employer may make matching contributions. Employers and plan sponsors must collect information and provide notices; the notice estimates 475,000 respondents, 28 minutes per response, and 221,125 annual burden hours.
Tax Payment Extension for Hardship
Internal Revenue Code Section 6161 lets individual and business taxpayers request an extension of time to pay tax if paying on the due date would cause substantial financial loss. To request this extension you must file Form 1127 with supporting documentation; the collection is an extension without change (Form 1127). The notice estimates 20 respondents, 7 hours 26 minutes per response, and 149 total annual burden hours.
Tax Treatment of Settlement Funds
TD 8459 prescribes reporting requirements and rules about the tax treatment of transfers to settlement funds, the taxation of income earned by those funds, and the tax treatment of distributions made by the funds. The collection affects business, individuals and households, not-for-profits, and state/local/tribal governments; the notice estimates 2,750 respondents, 1 hour 17 minutes per response, and 3,542 annual burden hours.
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