[Federal Register Volume 60, Number 141 (Monday, July 24, 1995)]
[Notices]
[Page 37917]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-18133]
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DEPARTMENT OF THE TREASURY
Public Information Collection Requirements Submitted to OMB for
Review.
July 17, 1995.
The Department of Treasury has made revisions and resubmitted the
following public information collection requirement(s) to OMB for
review and clearance under the Paperwork Reduction Act of 1980, Public
Law 96-511. Copies of the submission(s) may be obtained by calling the
Treasury Bureau Clearance Officer listed. Comments regarding this
information collection should be addressed to the OMB reviewer listed
and to the Treasury Department Clearance Officer, Department of the
Treasury, Room 2110, 1425 New York Avenue NW., Washington, DC 20220.
Internal Revenue Service (IRS)
OMB Number: 1545-0092
Form Number: IRS Form 1041 and Related Schedules D, J, and K-1
Type of Review: Resubmission
Title: U.S. Fiduciary Income Tax Return for Estates and Trusts (1041);
Capital Gains and Losses (Schedule D); Accumulation Distribution for a
Complex Trust (Schedule J); and Beneficiary's Share of Income,
Deductions, Credits (Schedule K-1)
Description: Internal Revenue Code (IRC) section 6012 requires that an
annual income tax return be filed for estates and trusts. Data is used
to determine that the estates, trusts, and beneficiaries filed the
proper returns and paid the correct tax. IRC section 59 requires the
fiduciary to recompute the distributable net income on a minimum tax
basis.
Respondents: Business or other for-profit, Individuals or households
Estimated Number of Respondents/Recordkeepers: 2,500,000
Estimated Burden Hours Per Respondent/Recordkeeper:
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Form 1041 Schedule D Schedule J Schedule K-1
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Recordkeeping........................... 40 hours, 53 16 hours, 1 39 hours, 28 8 hours, 22
minutes. minute. minutes. minutes.
Learning about the law or the form...... 18 hours, 37 1 hour, 47 1 hour, 5 1 hour, 12
minutes. minutes. minutes. minutes.
Preparing the form...................... 34 hours, 58 2 hours, 8 1 hour, 47 1 hour, 23
minutes. minutes. minutes. minutes.
Copying, assembling, and sending the 4 hours, 1
form to the IRS. minute.
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Frequency of Response: Annually
Estimated Total Reporting Burden: 250,021,241 hours
Clearance Officer: Garrick Shear, (202) 622-3869, Internal Revenue
Service, Room 5571, 1111 Constitution Avenue NW., Washington, DC 20224
OMB Reviewer: Milo Sunderhauf, (202) 395-7340, Office of Management and
Budget, Room 10226, New Executive Office Building, Washington, DC
20503.
Dale A. Morgan,
Departmental Reports Management Officer.
[FR Doc. 95-18133 Filed 7-21-95; 8:45 am]
BILLING CODE 4830-01-P