Comment Request; U.S. Business Income Tax Returns, 77961-77963 [2022-27628]
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Federal Register / Vol. 87, No. 243 / Tuesday, December 20, 2022 / Notices
Authority: 44 U.S.C. 3501 et seq.
Melody Braswell,
Treasury PRA Clearance Officer.
[FR Doc. 2022–27606 Filed 12–19–22; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Agency Information Collection
Activities; Submission for OMB
Review; Comment Request;
Declarations and Authorizations for
Electronic Filing
Departmental Offices, U.S.
Department of the Treasury.
ACTION: Notice.
AGENCY:
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 19, 2023 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 www.reginfo.gov/public/do/
PRAMain. Find this particular
information collection by selecting
‘‘Currently under 30-day Review—Open
for Public Comments’’ or by using the
search function.
Copies of the submissions may be
obtained from Melody Braswell by
emailing PRA@treasury.gov, calling
(202) 622–1035, or viewing the entire
information collection request at
www.reginfo.gov.
SUMMARY:
SUPPLEMENTARY INFORMATION:
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Internal Revenue Service (IRS)
Title: Declarations and Authorizations
for Electronic Filing.
OMB Number: 1545–0967.
Form Number: 8453–EMP, 8453–FE,
8453–WH, 8879–EMP, 8879–F, and
8879–WH.
Abstract: The IRS is actively engaged
in encouraging e-filing and electronic
documentation. The Form 8453 series is
used to authenticate the electronically
filed tax return, authorize the electronic
return originator (ERO) or intermediate
service provider (ISP) to transmit the
return, and provide the taxpayer’s
consent to authorize electronic funds
withdrawal for payment of taxes owed.
Form 8453–FE is used to electronically
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18:41 Dec 19, 2022
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file Form 1041, U.S. Income Tax Return
for Estates and Trusts. Form 8453–EMP
is used to electronically file an
employment tax return on Forms 940
series, 941 series, 943 series, 944, and
945. Form 8453–WH is used to
electronically file Form 1042, Annual
Withholding Tax Return for U.S. Source
Income of Foreign Persons. The Form
8879 series is used authorize the
taxpayer and ERO to sign the return
using a personal identification number
(PIN) and consent to an electronic funds
withdrawal. Form 8879–F is used to
electronically file Form 1041, U.S.
Income Tax Return for Estates and
Trusts. Form 8879–EMP is used to
electronically file an employment tax
return on Forms 940 series, 941 series,
943 series, 944, and 945. Form 8879–
WH is used to electronically file Form
1042, Annual Withholding Tax Return
for U.S. Source Income of Foreign
Persons.
Current Actions: There is a change to
the existing collection. Forms 8453–WH
and 8879–WH were developed to enable
electronic filing of Form 1042.
Type of Review: Revision of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Responses:
21,103,781.
Estimated Time per Respondent: 2.56
hours.
Estimated Total Annual Burden
Hours: 54,018,359.
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
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77961
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.
Authority: 44 U.S.C. 3501 et seq.
Melody Braswell,
Treasury PRA Clearance Officer.
[FR Doc. 2022–27601 Filed 12–19–22; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Agency Information Collection
Activities; Submission for OMB
Review;
Comment Request; U.S. Business
Income Tax Returns
Departmental Offices, U.S.
Department of the Treasury.
ACTION: Notice of information collection;
request for comment.
AGENCY:
The Internal Revenue Service,
as part of its continuing effort to reduce
paperwork and respondent burden,
invites the public and other Federal
agencies to take this opportunity to
comment on proposed and/or
continuing information collections, as
required by the Paperwork Reduction
Act of 1995. Currently, the IRS is
soliciting comments concerning the
burden associated with the U.S.
Business Income Tax Returns.
DATES: Comments should be received on
or before January 19, 2023 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 www.reginfo.gov/public/do/
PRAMain. Find this particular
information collection by selecting
‘‘Currently under 30-day Review—Open
for Public Comments’’ or by using the
search function. Copies of the
submissions may be obtained from
Melody Braswell by emailing PRA@
treasury.gov, calling (202) 622–1035, or
viewing the entire information
collection request at www.reginfo.gov.
SUPPLEMENTARY INFORMATION:
SUMMARY:
Internal Revenue Service (IRS)
Title: U.S. Business Income Tax
Returns.
OMB Control Number: 1545–0123.
Form Numbers:1065, 1066, 1120,
1120–C, 1120–F, 1120–FSC, 1120–H,
1120–L, 1120–ND, 1120–PC, 1120–POL,
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77962
Federal Register / Vol. 87, No. 243 / Tuesday, December 20, 2022 / Notices
1120–REIT, 1120–RIC, 1120–S, 1120–SF
and related attachments.
Abstract: These forms are used by
businesses to report their income tax
liability.
Current Actions: There have been
changes in regulatory guidance related
to various forms approved under this
approval package during the past year.
Additionally, there have been additions
and removals of some forms included in
this approval package.
Type of Review: Revision of currently
approved collections.
Affected Public: Corporations and
Pass-Through Entities.
Estimated Number of Respondents:
12,500,000.
Total Estimated Time: 952,000,000
hours.
Estimated Time per Respondent: 76
hours.
Total Estimated Out-of-Pocket Costs:
$59,487,000,000.
Total Monetized Burden:
$112,223,000,000.
FISCAL YEAR (FY) 2023 BURDEN TOTAL ESTIMATES FOR FORM 1120 AND 1065 SERIES AND ASSOCIATED FORMS,
SCHEDULES, AND REGULATIONS FY2023
Program change
due to adjustment
FY22
Number of Taxpayers ..................................
Burden in Hours ...........................................
Burden in Monetized Hours .........................
Out-of-Pocket Costs .....................................
Total Monetized Burden * .............................
12,300,000
1,138,000,000
55,915,000,000
$48,303,000,000
$104,218,000,000
200,000
(186,000,000)
(3,179,000,000)
$11,184,000,000
$8,005,000,000
Program
change due to
new legislation
Program
change due to
agency
0
0
........................
0
0
0
0
........................
0
0
FY23
12,500,000
952,000,000
52,736,000,000
$59,487,000,000
$112,223,000,000
* Total monetized burden = Monetized hours + Out-of-pocket costs.
TABLE 1—TAXPAYER BURDEN FOR ENTITIES TAXED AS PARTNERSHIPS
Total number
of returns
(in millions)
Primary form filed or type of taxpayer
All partnerships ................................................................................................
Small ................................................................................................................
Large * ..............................................................................................................
Average
time (hrs.)
4.9
4.6
0.3
Average outof-pocket cost
Average
monetized burden
$4,700
3,100
26,700
$8,500
5,400
52,200
Average outof-pocket cost
Average
monetized burden
$7,200
3,600
61,700
$15,100
6,400
148,500
70
60
225
Forms 1065, 1066, and all attachments
TABLE 2—TAXPAYER BURDEN FOR ENTITIES TAXED AS TAXABLE CORPORATIONS
Total number
of returns
(in millions)
Primary form filed or type of taxpayer
All Taxable Corporations .................................................................................
Small ................................................................................................................
Large * ..............................................................................................................
Average time
(hrs.)
2.1
2.0
0.1
110
65
770
Forms 1120, 1120–C, 1120–F, 1120–H, 1120–ND, 1120–SF, 1120–FSC, 1120–L, 1120–PC, 1120–POL and all attachments
TABLE 3—TAXPAYER BURDEN FOR ENTITIES TAXED AS PASS-THROUGH CORPORATIONS
Total number
of returns
(in millions)
Primary form filed or type of taxpayer
All Pass-through Corporations .........................................................................
Small ................................................................................................................
Large * ..............................................................................................................
Average time
(hrs.)
5.4
5.3
0.1
70
65
320
Average outof-pocket cost
Average
monetized burden
$3,900
3,500
34,900
$7,100
6,200
70,800
Forms 1120–REIT, 1120–RIC, 1120–S and all attachments
* A large business is defined as one having end-of-year assets greater than $10 million. Total filers counts may not equal the burden total estimates table due to rounding.
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FY2023
Average time
(hrs.)
Total positive income
Average outof-pocket
costs
Average
monetized burden
Table 1A—Taxpayer Burden for Taxable Corporations on Form 1120
1. <100k .......................................................................................................................................
2. 100k to 1mil .............................................................................................................................
3. 1mil to 10mil ............................................................................................................................
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55
76
118
20DEN1
1,569
4,540
12,676
2,547
7,688
25,162
77963
Federal Register / Vol. 87, No. 243 / Tuesday, December 20, 2022 / Notices
FY2023—Continued
Average time
(hrs.)
Total positive income
4. 10mil to 100mil ........................................................................................................................
5. >100mil ....................................................................................................................................
491
4,377
Average outof-pocket
costs
Average
monetized burden
52,315
267,506
107,655
761,004
58
66
88
319
1,385
1,452
3,593
9,093
34,954
147,205
2,309
6,062
18,128
70,796
302,504
52
65
109
400
1,787
1,633
4,617
12,993
48,022
194,559
2,683
8,014
24,824
92,986
395,062
Table 2A—Taxpayer Burden for Pass-Through Corporations on Form 1120S
1.
2.
3.
4.
5.
<100k .......................................................................................................................................
100k to 1mil .............................................................................................................................
1mil to 10mil ............................................................................................................................
10mil to 100mil ........................................................................................................................
>100mil ....................................................................................................................................
Table 3A—Taxpayer Burden for Partnerships on Form 1065
1.
2.
3.
4.
5.
< 100k ......................................................................................................................................
100k to 1mil .............................................................................................................................
1mil to 10mil ............................................................................................................................
10mil to 100mil ........................................................................................................................
> 100mil ...................................................................................................................................
meeting at (888) 330–1716. Access
Code: 1137147.
Authority: 44 U.S.C. 3501 et seq.
Spencer W. Clark,
Treasury PRA Clearance Officer.
FOR FURTHER INFORMATION CONTACT:
[FR Doc. 2022–27628 Filed 12–19–22; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
United States Mint
Notification of Citizens Coinage
Advisory Committee January 24, 2023,
Public Meeting
ACTION:
Notice of meeting.
The United States Mint
announces the Citizens Coinage
Advisory Committee (CCAC)
teleconference public meeting
scheduled for January 24, 2023.
DATES: January 24, 2023 from 1 p.m. to
3 p.m. (ET).
ADDRESSES: This meeting will occur via
teleconference. Interested members of
the public may dial in to listen to the
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SUMMARY:
VerDate Sep<11>2014
18:41 Dec 19, 2022
Jkt 259001
Jennifer Warren, United States Mint
Liaison to the CCAC; 801 9th Street NW;
Washington, DC 20220; or call 202–354–
7208.
SUPPLEMENTARY INFORMATION: Subject:
Swearing in of new member John
Saunders; review and discussion of
candidate designs for the Harlem
Hellfighters Congressional Gold Medal.
Interested persons should call the
CCAC HOTLINE at (202) 354–7502 for
the latest update on meeting time and
access information.
The CCAC advises the Secretary of the
Treasury on any theme or design
proposals relating to circulating coinage,
bullion coinage, Congressional Gold
Medals, and national and other medals;
advises the Secretary of the Treasury
with regard to the events, persons, or
places to be commemorated by the
issuance of commemorative coins in
each of the five calendar years
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succeeding the year in which a
commemorative coin designation is
made; and makes recommendations
with respect to the mintage level for any
commemorative coin recommended.
For members of the public interested
in listening in to the provided call
number, this is a reminder that the
public attendance is for listening
purposes only. Any member of the
public interested in submitting matters
for the CCAC’s consideration is invited
to submit them by email to info@
ccac.gov.
For Accommodation Request: If you
need an accommodation to listen to the
CCAC meeting, please contact the
Diversity Management and Civil Rights
Office by January 18, 2023, at 202–354–
7260 or 1–888–646–8369 (TYY).
(Authority: 31 U.S.C. 5135(b)(8)(C))
Eric Anderson,
Executive Secretary, United States Mint.
[FR Doc. 2022–27489 Filed 12–19–22; 8:45 am]
BILLING CODE 4810–37–P
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]]>Agencies
- DEPARTMENT OF THE TREASURY
- Agency Information Collection Activities; Submission for OMB Review;
[Federal Register Volume 87, Number 243 (Tuesday, December 20, 2022)]
[Notices]
[Pages 77961-77963]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-27628]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Agency Information Collection Activities; Submission for OMB
Review;
Comment Request; U.S. Business Income Tax Returns
AGENCY: Departmental Offices, U.S. Department of the Treasury.
ACTION: Notice of information collection; request for comment.
-----------------------------------------------------------------------
SUMMARY: The Internal Revenue Service, as part of its continuing effort
to reduce paperwork and respondent burden, invites the public and other
Federal agencies to take this opportunity to comment on proposed and/or
continuing information collections, as required by the Paperwork
Reduction Act of 1995. Currently, the IRS is soliciting comments
concerning the burden associated with the U.S. Business Income Tax
Returns.
DATES: Comments should be received on or before January 19, 2023 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 www.reginfo.gov/public/do/PRAMain. Find this particular
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function. Copies of
the submissions may be obtained from Melody Braswell by emailing
[email protected], calling (202) 622-1035, or viewing the entire
information collection request at www.reginfo.gov.
SUPPLEMENTARY INFORMATION:
Internal Revenue Service (IRS)
Title: U.S. Business Income Tax Returns.
OMB Control Number: 1545-0123.
Form Numbers:1065, 1066, 1120, 1120-C, 1120-F, 1120-FSC, 1120-H,
1120-L, 1120-ND, 1120-PC, 1120-POL,
[[Page 77962]]
1120-REIT, 1120-RIC, 1120-S, 1120-SF and related attachments.
Abstract: These forms are used by businesses to report their income
tax liability.
Current Actions: There have been changes in regulatory guidance
related to various forms approved under this approval package during
the past year. Additionally, there have been additions and removals of
some forms included in this approval package.
Type of Review: Revision of currently approved collections.
Affected Public: Corporations and Pass-Through Entities.
Estimated Number of Respondents: 12,500,000.
Total Estimated Time: 952,000,000 hours.
Estimated Time per Respondent: 76 hours.
Total Estimated Out-of-Pocket Costs: $59,487,000,000.
Total Monetized Burden: $112,223,000,000.
Fiscal Year (FY) 2023 Burden Total Estimates for Form 1120 and 1065 Series and Associated Forms, Schedules, and Regulations FY2023
--------------------------------------------------------------------------------------------------------------------------------------------------------
Program change
FY22 Program change due due to new Program change FY23
to adjustment legislation due to agency
--------------------------------------------------------------------------------------------------------------------------------------------------------
Number of Taxpayers......................................... 12,300,000 200,000 0 0 12,500,000
Burden in Hours............................................. 1,138,000,000 (186,000,000) 0 0 952,000,000
Burden in Monetized Hours................................... 55,915,000,000 (3,179,000,000) .............. .............. 52,736,000,000
Out-of-Pocket Costs......................................... $48,303,000,000 $11,184,000,000 0 0 $59,487,000,000
Total Monetized Burden *.................................... $104,218,000,000 $8,005,000,000 0 0 $112,223,000,000
--------------------------------------------------------------------------------------------------------------------------------------------------------
* Total monetized burden = Monetized hours + Out-of-pocket costs.
Table 1--Taxpayer Burden for Entities Taxed as Partnerships
----------------------------------------------------------------------------------------------------------------
Total number Average
Primary form filed or type of taxpayer of returns Average time Average out-of- monetized
(in millions) (hrs.) pocket cost burden
----------------------------------------------------------------------------------------------------------------
All partnerships................................ 4.9 70 $4,700 $8,500
Small........................................... 4.6 60 3,100 5,400
Large *......................................... 0.3 225 26,700 52,200
----------------------------------------------------------------------------------------------------------------
Forms 1065, 1066, and all attachments
----------------------------------------------------------------------------------------------------------------
Table 2--Taxpayer Burden for Entities Taxed as Taxable Corporations
----------------------------------------------------------------------------------------------------------------
Total number Average
Primary form filed or type of taxpayer of returns (in Average time Average out-of- monetized
millions) (hrs.) pocket cost burden
----------------------------------------------------------------------------------------------------------------
All Taxable Corporations........................ 2.1 110 $7,200 $15,100
Small........................................... 2.0 65 3,600 6,400
Large *......................................... 0.1 770 61,700 148,500
----------------------------------------------------------------------------------------------------------------
Forms 1120, 1120-C, 1120-F, 1120-H, 1120-ND, 1120-SF, 1120-FSC, 1120-L, 1120-PC, 1120-POL and all attachments
----------------------------------------------------------------------------------------------------------------
Table 3--Taxpayer Burden for Entities Taxed as Pass-Through Corporations
----------------------------------------------------------------------------------------------------------------
Total number Average
Primary form filed or type of taxpayer of returns (in Average time Average out-of- monetized
millions) (hrs.) pocket cost burden
----------------------------------------------------------------------------------------------------------------
All Pass-through Corporations................... 5.4 70 $3,900 $7,100
Small........................................... 5.3 65 3,500 6,200
Large *......................................... 0.1 320 34,900 70,800
----------------------------------------------------------------------------------------------------------------
Forms 1120-REIT, 1120-RIC, 1120-S and all attachments
----------------------------------------------------------------------------------------------------------------
* A large business is defined as one having end-of-year assets greater than $10 million. Total filers counts may
not equal the burden total estimates table due to rounding.
FY2023
----------------------------------------------------------------------------------------------------------------
Average
Total positive income Average time Average out-of- monetized
(hrs.) pocket costs burden
----------------------------------------------------------------------------------------------------------------
Table 1A--Taxpayer Burden for Taxable Corporations on Form 1120
----------------------------------------------------------------------------------------------------------------
1. <100k........................................................ 55 1,569 2,547
2. 100k to 1mil................................................. 76 4,540 7,688
3. 1mil to 10mil................................................ 118 12,676 25,162
[[Page 77963]]
4. 10mil to 100mil.............................................. 491 52,315 107,655
5. >100mil...................................................... 4,377 267,506 761,004
----------------------------------------------------------------------------------------------------------------
Table 2A--Taxpayer Burden for Pass-Through Corporations on Form 1120S
----------------------------------------------------------------------------------------------------------------
1. <100k........................................................ 58 1,452 2,309
2. 100k to 1mil................................................. 66 3,593 6,062
3. 1mil to 10mil................................................ 88 9,093 18,128
4. 10mil to 100mil.............................................. 319 34,954 70,796
5. >100mil...................................................... 1,385 147,205 302,504
----------------------------------------------------------------------------------------------------------------
Table 3A--Taxpayer Burden for Partnerships on Form 1065
----------------------------------------------------------------------------------------------------------------
1. < 100k....................................................... 52 1,633 2,683
2. 100k to 1mil................................................. 65 4,617 8,014
3. 1mil to 10mil................................................ 109 12,993 24,824
4. 10mil to 100mil.............................................. 400 48,022 92,986
5. > 100mil..................................................... 1,787 194,559 395,062
----------------------------------------------------------------------------------------------------------------
Authority: 44 U.S.C. 3501 et seq.
Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2022-27628 Filed 12-19-22; 8:45 am]
BILLING CODE 4830-01-P
