[Federal Register Volume 69, Number 85 (Monday, May 3, 2004)]
[Notices]
[Pages 24222-24223]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-10012]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 1065, Schedule D, 
and Schedule K-1

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Department of the Treasury, as part of its continuing 
effort

[[Page 24223]]

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, Public Law 104-13, (44 U.S.C. 
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning 
Form 1065, U.S. Return of Partnership Income, Schedule D, Capital Gains 
and Losses, and Schedule K-1, Partner's Share of Income, Credits, 
Deductions, etc.

DATES: Written comments should be received on or before July 2, 2004 to 
be assured of consideration.

ADDRESSES: Direct all written comments to Glenn P. Kirkland, Internal 
Revenue Service, room 6411, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the form(s) and instructions should be directed to Carol 
Savage at Internal Revenue Service, room 6407, 1111 Constitution Avenue 
NW., Washington, DC 20224, or at (202) 622-3945, or through the 
internet at [email protected].

SUPPLEMENTARY INFORMATION:
    Title: U.S. Return of Partnership Income (Form 1065), Capital Gains 
and Losses (Schedule D), and Partner's Share of Income, Credits, 
Deductions, etc. (Schedule K-1).
    OMB Number: 1545-0099.
    Form Number: 1065, Schedule D, and Schedule K-1.
    Abstract: Internal Revenue Code section 6031 requires partnerships 
to file returns that show gross income items, allowable deductions, 
partners' names, addresses, and distribution shares, and other 
information. This information is used by the IRS to verify correct 
reporting of partnership items and for general statistics. The 
information is used by partners to determine the income, loss, credits, 
etc., to report on their tax returns.
    Current Actions: There are no changes being made to the form or 
schedules at this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations, farms, 
and individuals or households.
    Estimated Number of Respondents: 2,376,800.
    Estimated Time Per Respondent: Varies.
    Estimated Total Annual Burden Hours: 524,324,665.
    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: April 28, 2004.
Carol Savage,
Management and Program Analyst.
[FR Doc. 04-10012 Filed 4-30-04; 8:45 am]
BILLING CODE 4830-01-M