[Federal Register Volume 86, Number 243 (Wednesday, December 22, 2021)]
[Notices]
[Pages 72686-72687]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-27704]


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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.

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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 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 Spencer W. Clark by emailing [email protected], calling 
(202) 927-5331, 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 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
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                     Primary form filed or type of taxpayer                                                         Time burden                                            Money burden
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                                                                                                          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)
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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
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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
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                                                                                                   Average total
                           All filers                              Average time   Average out-of-    monetized
                                                                      (hours)      pocket costs       burden
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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
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                                           Wage and Investment Filers
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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
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                                              Self Employed Filers
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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
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[FR Doc. 2021-27704 Filed 12-21-21; 8:45 am]
BILLING CODE 4830-01-P