Proposed Collection; Comment Request for Forms 1065, 1066, 1120, 1120-C, 1120-F, 1120-H, 1120-ND, 1120-S,1120-SF,1120-FSC,1120-L,1120-PC,1120-REIT,1120-RIC,1120-POL, and Related Attachments, 103931-103933 [2024-30075]
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<![CDATA[
lotter on DSK11XQN23PROD with NOTICES1
Federal Register / Vol. 89, No. 244 / Thursday, December 19, 2024 / Notices
Estimated Number of Respondents:
100,000.
Estimated Time per Respondent: 4
hrs., 57 min.
Estimated Total Annual Burden
Hours: 495,000.
2. Title: Internal Revenue Service
Advisory Council Membership
Application.
OMB Number: 1545–1791.
Form Number: 12339.
Abstract: The Federal Advisory
Committee Act (FACA) requires that
committee membership be balanced in
terms of points of view represented and
the functions to be performed. As a
result, members of specific committees
often have both the expertise and
professional skills that parallel the
program responsibilities of their
sponsoring agencies. Selection of
committee members is based on the
FACA’s requirements and the potential
member’s background and
qualifications. Therefore, an application
is needed to ascertain the desired skills
set for membership. The IRS will also
use the information to perform Federal
income tax, background, and
practitioner checks as required of all
members and applicants to the
Committee or Council. Information
provided will be used to qualify or
disqualify individuals to serve as
members.
Current Actions: Minor changes were
made to form 12239 that included in
part 1—there are now 6 check boxes
instead of 5, and Part V—a check box
has been added. Changes to the burden
estimates are due to the most current
filing data.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals or
households.
Estimated Number of Respondents:
100.
Estimated Time per Response: 1 hr. 30
min.
Estimated Total Annual Burden
Hours: 150.
3. Title: Consumer Cooperative
Exemption Application.
OMB Number: 1545–1941.
Form Number: 3491.
Abstract: A cooperative uses Form
3491 to apply for exemption from filing
Form 1099–PATR, Taxable Distributions
received from Cooperatives. Form 1099–
PATR is used to report patronage
distributions of $10 or more to a
recipient during the calendar year.
Current Actions: There is no change to
the paperwork burden previously
approved by OMB.
Type of Review: Extension of a
currently approved collection.
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18:08 Dec 18, 2024
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Affected Public: Business or other forprofit, individuals or households, and
farms.
Estimated Number of Respondents:
200.
Estimated Time per Response: 44 min.
Estimated Total Annual Burden
Hours: 148 hours.
4. Title: Employee Retention Credit
for Employers Affected by Qualified
Disaster.
OMB Number: 1545–1978.
Form Number: Form 5884–A.
Abstract: Form 5884–A is used to
figure certain credits for disaster area
employers. These credits typically
include employee retention credits for
eligible employers who conducted an
active trade or business in certain
disaster areas. The credit is equal to 40
percent of qualified wages for each
eligible employee (up to a maximum of
$6,000 in qualified wages per
employee). The estimates in this notice
are for estates and trusts filing Form
5884–A.
Current Actions: There is no change to
the burden previously approved by
OMB. However, the estimated number
of responses was reduced to eliminate
duplication of burden estimates. The
estimated burden for individuals filing
Form 5884–A is approved under OMB
control number 1545–0074, and the
estimated burden for businesses filing
Form 5884–A is approved under OMB
control number 1545–0123.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations, and farms.
Estimated Number of Respondents:
120.
Estimated Time per Respondent: 2.55
hours.
Estimated Total Annual Burden
Hours: 306.
Authority: 44 U.S.C. 3501 et seq.
Melody Braswell,
Treasury PRA Clearance Officer.
[FR Doc. 2024–30254 Filed 12–18–24; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Proposed Collection; Comment
Request for Forms 1065, 1066, 1120,
1120–C, 1120–F, 1120–H, 1120–ND,
1120–S,1120–SF,1120–FSC,1120–
L,1120–PC,1120–REIT,1120–RIC,1120–
POL, and Related Attachments
Departmental Offices, U.S.
Department of the Treasury.
ACTION: Notice.
AGENCY:
The Internal Revenue Service,
as part of its continuing effort to reduce
SUMMARY:
PO 00000
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Fmt 4703
Sfmt 4703
103931
paperwork and respondent burden,
invites the general 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
(PRA). The IRS is soliciting comments
on forms used by business entity
taxpayers.
Comments should be received on
or before January 21, 2025 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.
FOR FURTHER INFORMATION CONTACT:
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.
DATES:
SUPPLEMENTARY INFORMATION:
Internal Revenue Service (IRS)
Title: U.S. Business Income Tax
Return.
OMB Number: 1545–0123.
Form Numbers: Forms 1065, 1066,
1120, 1120–C, 1120–F, 1120–H, 1120–
ND, 1120–S, 1120–SF, 1120–FSC, 1120–
L, 1120–PC, 1120–REIT, 1120–RIC,
1120–POL and all attachments to these
forms.
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.
There have been additions and removals
of forms included in this approval
package This approval package is being
submitted for renewal purposes.
Type of Review: Revision of a
currently approved collection.
Affected Public: Corporations,
Partnerships and Pass-Through Entities.
Estimated Number of Respondents:
13,900,000.
Estimated Time per Respondent
(Hours): 67 hours, 25 minutes.
Estimated Total Annual Time (Hours):
935,100,000.
Estimated Total Annual Monetized
Time ($): 56,152,000,000.
Estimated Total Out-of-Pocket Costs
($): 71,617,000,000.
E:\FR\FM\19DEN1.SGM
19DEN1
103932
Federal Register / Vol. 89, No. 244 / Thursday, December 19, 2024 / Notices
Estimated Total Monetized Burden
($): 127,769,000,000.
Note: Total Monetized Burden = Total Outof-Pocket Costs + Total Annual Monetized
Time.
Tax Compliance Burden: Tax
compliance burden is defined as the
time and money taxpayers spend to
comply with their tax filing
responsibilities. Time-related activities
include recordkeeping, tax planning,
gathering tax materials, learning about
the law and what you need to do, and
completing and submitting the return.
Out-of-pocket costs include expenses
such as purchasing tax software, paying
a third-party preparer, and printing and
postage. Tax compliance burden does
not include a taxpayer’s tax liability,
economic inefficiencies caused by suboptimal choices related to tax
deductions or credits, or psychological
costs.
TABLE 1—FISCAL YEAR 2025 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.)
5.4
5.0
0.4
60
50
190
Average
out-of-pocket
cost
Average
monetized
burden
$5,000
3,100
28,200
$8,500
5,100
50,000
Forms 1065, 1066, and all attachments.
TABLE 2—FISCAL YEAR 2025 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.)
2.3
2.1
0.2
100
50
690
Average
out-of-pocket
cost
Average
monetized
burden
$7,400
3,500
59,200
$15,400
6,000
139,600
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—FISCAL YEAR 2025 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.)
6.2
6.1
0.1
60
60
300
Average
out-of-pocket
cost
Average
monetized
burden
$4,500
3,900
40,600
$8,500
5,100
50,000
Forms 1120–REIT, 1120–RIC, 1120–S, and all attachments.
Source: IRS:RAAS:KDA:BRDN (12–1–24).
* A large business is defined as one having end-of-year assets greater than $10 million. Total filer counts may not equal the burden total estimates table due to rounding.
Tables 1A–3A show the average
burden estimate for business entities by
total positive income. Total positive
income is defined as the sum of all
positive income amounts reported on
the return.
TABLE 1A—FISCAL YEAR 2025 TAXPAYER BURDEN FOR TAXABLE CORPORATIONS ON FORM 1120
Average time
(hrs.)
Total positive income
1.
2.
3.
4.
5.
<100k .......................................................................................................................................
100k to 1mil .............................................................................................................................
1mil to 10mil ............................................................................................................................
10mil to 100mil ........................................................................................................................
>100mil ....................................................................................................................................
33
49
93
390
3,325
Average
out-of-pocket
costs
Average
monetized
burden
$1,412
4,559
13,893
54,933
290,812
$1,931
6,604
23,988
100,276
677,311
lotter on DSK11XQN23PROD with NOTICES1
TABLE 2A—FISCAL YEAR 2025 TAXPAYER BURDEN FOR PASS-THROUGH CORPORATIONS ON FORM 1120S
Average time
(hrs.)
Total positive income
1.
2.
3.
4.
<100k .......................................................................................................................................
100k to 1mil .............................................................................................................................
1mil to 10mil ............................................................................................................................
10mil to 100mil ........................................................................................................................
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E:\FR\FM\19DEN1.SGM
47
52
72
276
19DEN1
Average
out-of-pocket
costs
$1,686
4,014
10,223
40,402
Average
monetized
burden
$2,381
5,934
17,779
72,483
Federal Register / Vol. 89, No. 244 / Thursday, December 19, 2024 / Notices
103933
TABLE 2A—FISCAL YEAR 2025 TAXPAYER BURDEN FOR PASS-THROUGH CORPORATIONS ON FORM 1120S—Continued
Average time
(hrs.)
Total positive income
5. >100mil ....................................................................................................................................
1,199
Average
out-of-pocket
costs
167,915
Average
monetized
burden
307,245
TABLE 3A—FISCAL YEAR 2025 TAXPAYER BURDEN FOR PARTNERSHIPS ON FORM 1065
Average time
(hrs.)
Total positive income
1.
2.
3.
4.
5.
<100k .......................................................................................................................................
100k to 1mil .............................................................................................................................
1mil to 10mil ............................................................................................................................
10mil to 100mil ........................................................................................................................
>100mil ....................................................................................................................................
39
49
86
319
1,494
Average
out-of-pocket
costs
$1,663
4,743
13,803
51,636
223,989
Average
monetized
burden
$2,453
7,319
23,334
88,752
397,651
Source: IRS: RAAS:KDA:BRDN (12–1–24).
Detail may not add to total due to rounding.
(Authority: 44 U.S.C. 3501 et seq.)
Melody Braswell,
Treasury PRA Clearance Officer.
[FR Doc. 2024–30075 Filed 12–18–24; 8:45 am]
BILLING CODE 4810–25–P
DEPARTMENT OF THE TREASURY
Revision of Information Collection
Request Submitted for Public
Comment; Comment Request on
Burden Related to U.S. Income Tax
Return Forms for Individual Taxpayers
Departmental Offices, U.S.
Department of the Treasury.
ACTION: Notice.
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. Income
Tax Return Forms for Individual
Taxpayers.
DATES: Comments should be received on
or before January 21, 2025 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
lotter on DSK11XQN23PROD with NOTICES1
SUMMARY:
VerDate Sep<11>2014
18:08 Dec 18, 2024
Jkt 265001
‘‘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 Melody Braswell by
emailing PRA@treasury.gov, calling
(202) 622–1035, or viewing the entire
information collection request at
www.reginfo.gov.
SUPPLEMENTARY INFORMATION:
Internal Revenue Service (IRS)
Title: U.S. Income Tax Return for
Individual Taxpayers.
OMB Number: 1545–0074.
Form Numbers: Form 1040 and
affiliated return forms.
Abstract: 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.
Current Actions: There have also 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. In filing season 2025, the
Internal Revenue Service (IRS) will
continue to employ its free direct e-file
tax return system (Direct File) as an
PO 00000
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Fmt 4703
Sfmt 4703
optional service available to taxpayers
with supported tax situations.
Type of Review: Revision of a
currently approved collection.
Affected Public: Individuals or
Households, Farms.
Estimated Number of Respondents:
168,800,000.
Estimated Time per Respondent
(Hours): 12 hrs. 37 mins.
Estimated Total Annual Time (Hours):
2,129,000,000.
Estimated Total Annual Monetized
Time ($): 44,997,000,000.
Estimated Out-of-Pockets Costs ($):
48,683,000,000.
Estimated Total Monetized Burden
($): 93,680,000,000.
Note: Total Monetized Burden = Total Outof-Pocket Costs + Total Annual Monetized
Time.
Tax Compliance Burden
Tax compliance burden is defined as
the time and money taxpayers spend to
comply with their tax filing
responsibilities. Time-related activities
include recordkeeping, tax planning,
gathering tax materials, learning about
the law and what you need to do, and
completing and submitting the return.
Out-of-pocket costs include expenses
such as purchasing tax software, paying
a third-party preparer, and printing and
postage. Tax compliance burden does
not include a taxpayer’s tax liability,
economic inefficiencies caused by suboptimal choices related to tax
deductions or credits, or psychological
costs.
E:\FR\FM\19DEN1.SGM
19DEN1
]]>Agencies
[Federal Register Volume 89, Number 244 (Thursday, December 19, 2024)]
[Notices]
[Pages 103931-103933]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-30075]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Proposed Collection; Comment Request for Forms 1065, 1066, 1120,
1120-C, 1120-F, 1120-H, 1120-ND, 1120-S,1120-SF,1120-FSC,1120-L,1120-
PC,1120-REIT,1120-RIC,1120-POL, and Related Attachments
AGENCY: Departmental Offices, U.S. Department of the Treasury.
ACTION: Notice.
-----------------------------------------------------------------------
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
proposed and/or continuing information collections, as required by the
Paperwork Reduction Act of 1995 (PRA). The IRS is soliciting comments
on forms used by business entity taxpayers.
DATES: Comments should be received on or before January 21, 2025 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.
FOR FURTHER INFORMATION CONTACT: 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 Return.
OMB Number: 1545-0123.
Form Numbers: Forms 1065, 1066, 1120, 1120-C, 1120-F, 1120-H, 1120-
ND, 1120-S, 1120-SF, 1120-FSC, 1120-L, 1120-PC, 1120-REIT, 1120-RIC,
1120-POL and all attachments to these forms.
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. There have been additions and removals of forms included
in this approval package This approval package is being submitted for
renewal purposes.
Type of Review: Revision of a currently approved collection.
Affected Public: Corporations, Partnerships and Pass-Through
Entities.
Estimated Number of Respondents: 13,900,000.
Estimated Time per Respondent (Hours): 67 hours, 25 minutes.
Estimated Total Annual Time (Hours): 935,100,000.
Estimated Total Annual Monetized Time ($): 56,152,000,000.
Estimated Total Out-of-Pocket Costs ($): 71,617,000,000.
[[Page 103932]]
Estimated Total Monetized Burden ($): 127,769,000,000.
Note: Total Monetized Burden = Total Out-of-Pocket Costs + Total
Annual Monetized Time.
Tax Compliance Burden: Tax compliance burden is defined as the time
and money taxpayers spend to comply with their tax filing
responsibilities. Time-related activities include recordkeeping, tax
planning, gathering tax materials, learning about the law and what you
need to do, and completing and submitting the return. Out-of-pocket
costs include expenses such as purchasing tax software, paying a third-
party preparer, and printing and postage. Tax compliance burden does
not include a taxpayer's tax liability, economic inefficiencies caused
by sub-optimal choices related to tax deductions or credits, or
psychological costs.
Table 1--Fiscal Year 2025 Taxpayer Burden for Entities Taxed as Partnerships
----------------------------------------------------------------------------------------------------------------
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 Partnerships................................ 5.4 60 $5,000 $8,500
Small........................................... 5.0 50 3,100 5,100
Large *......................................... 0.4 190 28,200 50,000
----------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
Forms 1065, 1066, and all attachments.
Table 2--Fiscal Year 2025 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........................ 2.3 100 $7,400 $15,400
Small........................................... 2.1 50 3,500 6,000
Large *......................................... 0.2 690 59,200 139,600
----------------------------------------------------------------------------------------------------------------
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--Fiscal Year 2025 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................... 6.2 60 $4,500 $8,500
Small........................................... 6.1 60 3,900 5,100
Large *......................................... 0.1 300 40,600 50,000
----------------------------------------------------------------------------------------------------------------
Forms 1120-REIT, 1120-RIC, 1120-S, and all attachments.
Source: IRS:RAAS:KDA:BRDN (12-1-24).
* A large business is defined as one having end-of-year assets greater than $10 million. Total filer counts may
not equal the burden total estimates table due to rounding.
Tables 1A-3A show the average burden estimate for business entities
by total positive income. Total positive income is defined as the sum
of all positive income amounts reported on the return.
Table 1A--Fiscal Year 2025 Taxpayer Burden for Taxable Corporations on Form 1120
----------------------------------------------------------------------------------------------------------------
Average
Total positive income Average time Average out-of- monetized
(hrs.) pocket costs burden
----------------------------------------------------------------------------------------------------------------
1. <100k........................................................ 33 $1,412 $1,931
2. 100k to 1mil................................................. 49 4,559 6,604
3. 1mil to 10mil................................................ 93 13,893 23,988
4. 10mil to 100mil.............................................. 390 54,933 100,276
5. >100mil...................................................... 3,325 290,812 677,311
----------------------------------------------------------------------------------------------------------------
Table 2A--Fiscal Year 2025 Taxpayer Burden for Pass-Through Corporations on Form 1120S
----------------------------------------------------------------------------------------------------------------
Average
Total positive income Average time Average out-of- monetized
(hrs.) pocket costs burden
----------------------------------------------------------------------------------------------------------------
1. <100k........................................................ 47 $1,686 $2,381
2. 100k to 1mil................................................. 52 4,014 5,934
3. 1mil to 10mil................................................ 72 10,223 17,779
4. 10mil to 100mil.............................................. 276 40,402 72,483
[[Page 103933]]
5. >100mil...................................................... 1,199 167,915 307,245
----------------------------------------------------------------------------------------------------------------
Table 3A--Fiscal Year 2025 Taxpayer Burden for Partnerships on Form 1065
----------------------------------------------------------------------------------------------------------------
Average
Total positive income Average time Average out-of- monetized
(hrs.) pocket costs burden
----------------------------------------------------------------------------------------------------------------
1. <100k........................................................ 39 $1,663 $2,453
2. 100k to 1mil................................................. 49 4,743 7,319
3. 1mil to 10mil................................................ 86 13,803 23,334
4. 10mil to 100mil.............................................. 319 51,636 88,752
5. >100mil...................................................... 1,494 223,989 397,651
----------------------------------------------------------------------------------------------------------------
Source: IRS: RAAS:KDA:BRDN (12-1-24).
Detail may not add to total due to rounding.
(Authority: 44 U.S.C. 3501 et seq.)
Melody Braswell,
Treasury PRA Clearance Officer.
[FR Doc. 2024-30075 Filed 12-18-24; 8:45 am]
BILLING CODE 4810-25-P
