[Federal Register Volume 87, Number 242 (Monday, December 19, 2022)]
[Notices]
[Pages 77675-77676]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-27468]


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DEPARTMENT OF THE TREASURY


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; U.S. Income Tax Return for Individual 
Taxpayers

AGENCY: Departmental Offices, Department of the Treasury.

ACTION: Notice.

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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. Income Tax Return Forms 
for Individual Taxpayers.

DATES: Comments should be received on or before January 18, 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. Income Tax Return for Individual Taxpayers.
    OMB Control Number: 1545-0074.
    Form Number: 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 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. The number of estimated 
filers for FY22 has been increased based on data on the number of Tax 
Year 2021 Form 1040 filings and IRS models have been updated to account 
for macroeconomic inputs such as inflation. Overall, updated tax return 
data adjustments result in a slightly lower average time burden per 
response and a slightly higher out-of-pocket cost per response.
    Affected Public: Individuals or households.
    Estimated Number of Respondents: 172,600,000.
    Total Estimated Time: 2.211 billion hours (2,211,000,000 hours).
    Estimated Time per Respondent: 12.81 hours.

[[Page 77676]]

    Total Estimated Monetized Time: $42.460 billion ($42,460,000,000).
    Estimated Monetized Time per Respondent: $246.
    Total Estimated Out-of-Pocket Costs: $42.972 billion 
($42,972,000,000).
    Estimated Out-of-Pocket Cost per Respondent: $249.
    Total Monetized Burden Costs: $85.432 billion ($85,432,000,000).
    Estimated Total Monetized Burden per Respondent: $495.

                                                           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       Tax planning   completion and     All other       (dollars)        burden
                                                                                                      keeping                        submission                                      (dollars)
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All Taxpayers...................................................             100              13               6               2               4               1            $250            $500
Type of Taxpayer:
    Nonbusiness **..............................................              72               8               3               1               3               1             140             280
    Business ***................................................              28              25              12               5               6               2             530           1,060
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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. Hours are rounded to nearest hour. Dollars rounded to the nearest $10.
** A ``nonbusiness'' filer does not file any of these schedules or forms with Form 1040.
*** A ``business'' filer files one or more of the following with Form 1040: Schedule C, C-EZ, E, F, Form 2106, or 2106-EZ.
Source: RAAS:KDA (11-21-2022).


                          Taxpayer Burden Statistics by Total Positive Income Quintile
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                                                            Average time     Average out-of-     Average total
                                                              (hours)          pocket costs     monetized burden
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                                                   All Filers
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Total positive income quintiles
    0 to 20............................................                7.3                $76               $136
    20 to 40...........................................               10.9                126                233
    40 to 60...........................................               11.6                162                313
    60 to 80...........................................               13.1                226                457
    80 to 100..........................................               21.6                664              1,351
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                                           Wage and Investment Filers
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Total Income Decile:
    0 to 20............................................                6.2                 65                115
    20 to 40...........................................                8.9                109                200
    40 to 60...........................................                8.6                133                256
    60 to 80...........................................                8.5                173                348
    80 to 100..........................................                9.8                298                651
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                                              Self Employed Filers
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Total Income Decile:
    0 to 20............................................               13.4                132                243
    20 to 40...........................................               20.3                204                388
    40 to 60...........................................               22.4                261                513
    60 to 80...........................................               23.0                341                694
    80 to 100..........................................               31.7                978              1,952
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Source: RAAS:KDA (11-21-2022).

    Authority: 44 U.S.C. 3501 et seq.

Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2022-27468 Filed 12-16-22; 8:45 am]
BILLING CODE 4810-25-P