Proposed Collection; Comment Request for Form 1041, 14618 [2022-05404]
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14618
Federal Register / Vol. 87, No. 50 / Tuesday, March 15, 2022 / Notices
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Form 1041
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
The Internal Revenue Service,
as part of its continuing effort to reduce
paperwork and respondent burden,
invites the general public and other
Federal agencies to take this
opportunity to comment on information
collections, as required by the
Paperwork Reduction Act of 1995. The
IRS is soliciting comments concerning
Form 1041, U.S. Income Tax Return for
Estates and Trusts, and related
Schedules D, I, J, K–1, Form 1041–V,
and Frequently Asked Questions (FAQs)
relating to the elections of deferred
foreign income.
DATES: Written comments should be
received on or before May 16, 2022 to
be assured of consideration.
ADDRESSES: Direct all written comments
to Andres Garcia, Internal Revenue
Service, Room 6526, 1111 Constitution
Avenue NW, Washington, DC 20224 or
by email to omb.unit@irs.gov. Please
include the ‘‘OMB Number 1545–0092’’
in the Subject line. Written and
electronic comments concerning
Proposed § 1.958–1(e)(2) and Proposed
§ 1.964–1(c)(3) can be addressed to the
information contact under 87 FR 3890.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the form and instructions
should be directed to Sara Covington at
Internal Revenue Service, Room 6526,
1111 Constitution Avenue NW,
Washington, DC 20224, or at (202) 317–
4542 or through the internet, at
Sara.L.Covington@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: U.S. Income Tax Return for
Estates and Trusts.
OMB Number: 1545–0092.
Form Number: Form 1041.
Abstract: IRC section 6012 requires
that an annual income tax return be
filed for estates and trusts. The data is
used by the IRS to determine that the
estates, trusts, and beneficiaries filed the
proper returns and paid the correct tax.
Public Law 115–97, section 14103 has a
retroactive effective date of 2017. In
order for taxpayers to fulfill their filing
obligations and report the correct
amount of tax under Section 14103, the
IRS developed FAQs to alert taxpayers
how and where to report this income on
their tax return. A critical part of this
khammond on DSKJM1Z7X2PROD with NOTICES
SUMMARY:
VerDate Sep<11>2014
21:10 Mar 14, 2022
Jkt 256001
effort includes alerting taxpayers of
their filing obligations and educating
them on how and where this would be
reported. The data will be utilized by
the IRS to ensure that the correct
amount of tax is paid. In general, the
collections of information in proposed
§ 1.958–1(e) and proposed § 1.964–
1(c)(3) impose a burden on certain
domestic trusts and estates to attach
statements to their tax returns, or notify
certain prescribed persons, of elections
permitted by those regulations’ sections.
Current Actions: There were changes
and updates made to the form since last
renewal.
Type of Review: Revision of a
currently approved collection.
Affected Public: Business or other forprofit organizations and individuals.
Estimated Number of Respondents:
10,067,925.
Estimated Time per Respondent: 32
hours, 38 minutes.
Estimated Total Annual Burden
Hours: 331,507,546.
The following paragraph applies to all
of the collections of information covered
by this notice:
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless the collection of information
displays a valid OMB control number.
Books or records relating to a collection
of information must be retained as long
as their contents may become material
in the administration of any internal
revenue law. Generally, tax returns and
tax return information are confidential,
as required by 26 U.S.C. 6103.
Request for Comments: Comments
submitted in response to this notice will
be summarized and/or included in the
request for OMB approval. All
comments will become a matter of
public record. Comments are invited on:
(a) Whether the collection of
information is necessary for the proper
performance of the functions of the
agency, including whether the
information shall have practical utility;
(b) the accuracy of the agency’s estimate
of the burden of the collection of
information; (c) ways to enhance the
quality, utility, and clarity of the
information to be collected; (d) ways to
minimize the burden of the collection of
information on respondents, including
through the use of automated collection
techniques or other forms of information
technology; and (e) estimates of capital
or start-up costs and costs of operation,
maintenance, and purchase of services
to provide information.
PO 00000
Frm 00179
Fmt 4703
Sfmt 4703
Approved: March 8, 2022.
Sara L. Covington,
IRS Tax Analyst.
[FR Doc. 2022–05404 Filed 3–14–22; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF VETERANS
AFFAIRS
Special Medical Advisory Group,
Notice of Meeting
The Department of Veterans Affairs
(VA) gives notice under the Federal
Advisory Committee Act, 5 U.S.C. app.
2, that the Special Medical Advisory
Group (the Committee) will meet on
April 6, 2022, from 9:00 a.m. EDT to
3:30 p.m. EDT. The meeting is open to
the public. The public will only be able
to attend virtually. Members of the
Committee may join in person or
virtually. Join by phone: 1–404–397–
1596, Access code 27620910241. Join
via Webex (please contact POC below
for assistance connecting): https://
veteransaffairs.webex.com/veterans
affairs/j.php?MTID=m8189db2dec
142f2b5ac52cfcf9f302f8.
The purpose of the Committee is to
advise the Secretary of Veterans Affairs
and the Under Secretary for Health on
the care and treatment of Veterans, and
other matters pertinent to the Veterans
Health Administration.
On April 6, 2022, the agenda for the
meeting will include discussions on
Center for Care and Payment
Innovation, H.R. National Green Alert
Act of 2021, reinventing training and
research at VA facilities, and VA’s
quality of care priorities, national
leadership role and the post-pandemic
way ahead.
Members of the public may submit
written statements for review by the
Committee to: Department of Veterans
Affairs, Special Medical Advisory
Group—Office of Under Secretary for
Health (10), Veterans Health
Administration, 810 Vermont Avenue
NW, Washington, DC 20420 or by email
at VASMAGDFO@va.gov. Comments
will be accepted until close of business
on Monday, April 4, 2022.
Any member of the public wishing to
attend the meeting or seeking additional
information should email
VASMAGDFO@va.gov or call 202–461–
7000.
Dated: March 10, 2022.
LaTonya L. Small,
Federal Advisory Committee Management
Officer.
[FR Doc. 2022–05461 Filed 3–14–22; 8:45 am]
BILLING CODE 8320–01–P
E:\FR\FM\15MRN1.SGM
15MRN1
]]>Agencies
[Federal Register Volume 87, Number 50 (Tuesday, March 15, 2022)]
[Notices]
[Page 14618]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-05404]
[[Page 14618]]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Form 1041
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
-----------------------------------------------------------------------
SUMMARY: The Internal Revenue Service, as part of its continuing effort
to reduce paperwork and respondent burden, invites the general public
and other Federal agencies to take this opportunity to comment on
information collections, as required by the Paperwork Reduction Act of
1995. The IRS is soliciting comments concerning Form 1041, U.S. Income
Tax Return for Estates and Trusts, and related Schedules D, I, J, K-1,
Form 1041-V, and Frequently Asked Questions (FAQs) relating to the
elections of deferred foreign income.
DATES: Written comments should be received on or before May 16, 2022 to
be assured of consideration.
ADDRESSES: Direct all written comments to Andres Garcia, Internal
Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC
20224 or by email to [email protected]. Please include the ``OMB Number
1545-0092'' in the Subject line. Written and electronic comments
concerning Proposed Sec. 1.958-1(e)(2) and Proposed Sec. 1.964-
1(c)(3) can be addressed to the information contact under 87 FR 3890.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the form and instructions should be directed to Sara
Covington at Internal Revenue Service, Room 6526, 1111 Constitution
Avenue NW, Washington, DC 20224, or at (202) 317-4542 or through the
internet, at [email protected].
SUPPLEMENTARY INFORMATION:
Title: U.S. Income Tax Return for Estates and Trusts.
OMB Number: 1545-0092.
Form Number: Form 1041.
Abstract: IRC section 6012 requires that an annual income tax
return be filed for estates and trusts. The data is used by the IRS to
determine that the estates, trusts, and beneficiaries filed the proper
returns and paid the correct tax. Public Law 115-97, section 14103 has
a retroactive effective date of 2017. In order for taxpayers to fulfill
their filing obligations and report the correct amount of tax under
Section 14103, the IRS developed FAQs to alert taxpayers how and where
to report this income on their tax return. A critical part of this
effort includes alerting taxpayers of their filing obligations and
educating them on how and where this would be reported. The data will
be utilized by the IRS to ensure that the correct amount of tax is
paid. In general, the collections of information in proposed Sec.
1.958-1(e) and proposed Sec. 1.964-1(c)(3) impose a burden on certain
domestic trusts and estates to attach statements to their tax returns,
or notify certain prescribed persons, of elections permitted by those
regulations' sections.
Current Actions: There were changes and updates made to the form
since last renewal.
Type of Review: Revision of a currently approved collection.
Affected Public: Business or other for-profit organizations and
individuals.
Estimated Number of Respondents: 10,067,925.
Estimated Time per Respondent: 32 hours, 38 minutes.
Estimated Total Annual Burden Hours: 331,507,546.
The following paragraph applies to all of the collections of
information covered by this notice:
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless the collection of
information displays a valid OMB control number. Books or records
relating to a collection of information must be retained as long as
their contents may become material in the administration of any
internal revenue law. Generally, tax returns and tax return information
are confidential, as required by 26 U.S.C. 6103.
Request for Comments: Comments submitted in response to this notice
will be summarized and/or included in the request for OMB approval. All
comments will become a matter of public record. Comments are invited
on: (a) Whether the collection of information is necessary for the
proper performance of the functions of the agency, including whether
the information shall have practical utility; (b) the accuracy of the
agency's estimate of the burden of the collection of information; (c)
ways to enhance the quality, utility, and clarity of the information to
be collected; (d) ways to minimize the burden of the collection of
information on respondents, including through the use of automated
collection techniques or other forms of information technology; and (e)
estimates of capital or start-up costs and costs of operation,
maintenance, and purchase of services to provide information.
Approved: March 8, 2022.
Sara L. Covington,
IRS Tax Analyst.
[FR Doc. 2022-05404 Filed 3-14-22; 8:45 am]
BILLING CODE 4830-01-P
