[Federal Register Volume 88, Number 240 (Friday, December 15, 2023)]
[Notices]
[Pages 87057-87058]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-27645]


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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, U.S. Department of the Treasury.

ACTION: Notice of Information Collection; request for comment.

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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 16, 2024 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. Income Tax Return for Individual Taxpayers.
    OMB 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 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 2024, the Internal 
Revenue Service (IRS) will launch a pilot program for a free direct e-
file tax return system (Direct File). This limited-scale pilot will 
allow the IRS to evaluate the costs, benefits, and operational 
challenges associated with providing such an optional service to 
taxpayers.
    This approval package is being submitted for renewal purposes only.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Individuals or Households, Farms.
    Estimated Number of Respondents: 171,800,000.
    Estimated Time per Respondent (Hours): 13.
    Estimated Total Annual Time (Hours): 2,249,000,000.
    Estimated Total Annual Monetized Time ($): 46,342,000,000.

[[Page 87058]]

    Estimated Total Out-of-Pockets Costs ($): 45,365,000,000.
    Estimated Total Monetized Burden ($): 91,707,000,000.

    Note: Total Monetized Burden = Total Out-of-Pocket Costs + Total 
Annual Monetized Time.


                                                           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  (%)                       Record                        completion                       (dollars)        burden
                                                                                    Total time        keeping      Tax planning         and          All other                       (dollars)
                                                                                                                                    submission
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All Taxpayers...................................................            100%              13               6               2               4               1            $270            $540
Type of Taxpayer
Nonbusiness **..................................................             72%               9               3               1               3               1             150             310
Business ***....................................................              28              24              12               4               6               2             560           1,120
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Note: 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 ``nonbusiness'' filer does not file any of these schedules or forms
  with Form 1040.
Source: RAAS:KDA (11-2-2023)


                          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............................................                7.8                 80               $146
    20 to 40...........................................               10.9                128                242
    40 to 60...........................................               11.6                165                327
    60 to 80...........................................               13.1                232                480
    80 to 100..........................................               22.7                726              1,497
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                                           Wage and Investment Filers
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Total Income Quintiles:
    0 to 20............................................                6.9                 71                129
    20 to 40...........................................                9.3                112                212
    40 to 60...........................................                9.0                139                277
    60 to 80...........................................                9.1                185                384
    80 to 100..........................................               10.8                322                737
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                                              Self Employed Filers
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Total Income Quintiles
    0 to 20............................................               11.9                125                225
    20 to 40...........................................               18.5                204                379
    40 to 60...........................................               21.0                258                507
    60 to 80...........................................               22.0                338                697
    80 to 100..........................................               33.1              1,077              2,155
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Source: RAAS:KDA (12-1-2023)


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

Melody Braswell,
Treasury PRA Clearance Officer.
[FR Doc. 2023-27645 Filed 12-14-23; 8:45 am]
BILLING CODE 4830-01-P