Notice2021-27704
Agency Information Collection Activities; Submission for OMB Review; Comment Request; U.S. Income Tax Return Forms for Individual Taxpayers
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
December 22, 2021
Issuing agencies
Treasury Department
Abstract
The Department of the Treasury will submit the following information collection requests to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, on or after the date of publication of this notice. The public is invited to submit comments on these requests.
Full Text
<html>
<head>
<title>Federal Register, Volume 86 Issue 243 (Wednesday, December 22, 2021)</title>
</head>
<body><pre>
[Federal Register Volume 86, Number 243 (Wednesday, December 22, 2021)]
[Notices]
[Pages 72686-72687]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-27704]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Agency Information Collection Activities; Submission for OMB
Review; Comment Request; U.S. Income Tax Return Forms for Individual
Taxpayers
AGENCY: Departmental Offices, U.S. Department of the Treasury.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: The Department of the Treasury will submit the following
information collection requests to the Office of Management and Budget
(OMB) for review and clearance in accordance with the Paperwork
Reduction Act of 1995, on or after the date of publication of this
notice. The public is invited to submit comments on these requests.
DATES: Comments should be received on or before January 21, 2022 to be
assured of consideration.
ADDRESSES: Written comments and recommendations for the proposed
information collection should be sent within 30 days of publication of
this notice to <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a>. Find this particular
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.
FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be
obtained from Spencer W. Clark by emailing <a href="/cdn-cgi/l/email-protection#baeae8fbfacec8dfdbc9cfc8c394ddd5cc"><span class="__cf_email__" data-cfemail="d9898b9899adabbcb8aaacaba0f7beb6af">[email protected]</span></a>, calling
(202) 927-5331, or viewing the entire information collection request at
<a href="http://www.reginfo.gov">www.reginfo.gov</a>.
SUPPLEMENTARY INFORMATION:
Internal Revenue Service (IRS)
Title: U.S. Income Tax Return for Individual Taxpayers.
OMB Control Number: 1545-0074.
Forms: Form 1040 and affiliated return forms.
Type of Review: Revision of a currently approved collection.
Description: IRC sections 6011 & 6012 of the Internal Revenue Code
require individuals to prepare and file income tax returns annually.
These forms and related schedules are used by individuals to report
their income subject to tax and compute their correct tax liability.
This information collection request (ICR) covers the actual reporting
burden associated with preparing and submitting the prescribed return
forms, by individuals required to file Form 1040 and any of its'
affiliated forms as explained in the attached table.
There have been changes in regulatory guidance related to various
forms approved under this approval package during the past year. There
have been additions and removals of forms included in this approval
package. A summary of the burden on respondents is given below and
fuller discussion is available in the supporting documents submitted to
OMB.
Affected Public: Individuals or Households, Farms.
Estimated Number of Respondents: 163,600,000.
Frequency of Response: Annually.
Estimated Total Number of Annual Responses: 163,600,000.
Estimated Time per Response: 12 hours, 31 minutes.
Estimated Total Annual Burden Hours: 2,048,000,000.
Authority: 44 U.S.C. 3501 et seq.
Dated: December 16, 2021.
Spencer W. Clark,
Treasury PRA Clearance Officer.
[[Page 72687]]
Estimated Average Taxpayer Burden for Individuals Filing a 1040 by Activity
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Primary form filed or type of taxpayer Time burden Money burden
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Average time burden (Hours) ***
-------------------------------------------------------------------------------- Total
Percentage of Form Average cost monetized
returns Total time Record keeping Tax planning completion and All other (dollars) burden
submission (dollars)
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
All Taxpayers 100 13 6 2 4 1 $240 $460
Type of Taxpayer .............. .............. .............. .............. .............. .............. .............. ..............
Nonbusiness **.............................................. 72 9 3 1 3 1 160 290
Business **................................................. 28 22 12 4 5 2 470 900
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Note: This table does not include 1040NR, 1040NR-EZ, and 1040X filers.
Detail may not add to total due to rounding. Dollars rounded to the nearest $10.
** A ``business'' filer files one or more of the following with Form 1040: Schedule C, C-EZ, E, F, Form 2106, or 2106-EZ. A ``non-business'' filer does not file any of these schedules or forms
with Form 1040.
*** Times are rounded to nearest hour.
The following table shows the average burden estimate for
individual entities by total positive income. Total positive income is
defined as the sum of all positive income amounts reported on the
return.
Taxpayer Burden Statistics by Total Positive Income Quintile
----------------------------------------------------------------------------------------------------------------
Average total
All filers Average time Average out-of- monetized
(hours) pocket costs burden
----------------------------------------------------------------------------------------------------------------
Total positive income quintiles:
0 to 20..................................................... 8.1 $79 $144
20 to 40.................................................... 11.2 130 237
40 to 60.................................................... 11.6 172 318
60 to 80.................................................... 12.8 241 455
80 to 100................................................... 19.2 600 1,161
----------------------------------------------------------------------------------------------------------------
Wage and Investment Filers
----------------------------------------------------------------------------------------------------------------
Total Income Decile:
0 to 20..................................................... 7.2 70 $127
20 to 40.................................................... 9.6 117 212
40 to 60.................................................... 9.0 150 273
60 to 80.................................................... 8.9 198 370
80 to 100................................................... 10.1 333 658
----------------------------------------------------------------------------------------------------------------
Self Employed Filers
----------------------------------------------------------------------------------------------------------------
Total Income Decile:
0 to 20..................................................... 12.9 126 $228
20 to 40.................................................... 19.2 190 358
40 to 60.................................................... 20.9 250 475
60 to 80.................................................... 21.4 333 642
80 to 100................................................... 27.1 833 1,599
----------------------------------------------------------------------------------------------------------------
[FR Doc. 2021-27704 Filed 12-21-21; 8:45 am]
BILLING CODE 4830-01-P
</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>Indexed from Federal Register on December 22, 2021.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.