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View ICR - OIRA Conclusion

OMB Control No: 1545-0074	ICR Reference No: 202311-1545-006
Status: Active	Previous ICR Reference No: 202210-1545-008
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: U.S. Individual Income Tax Return
Type of Information Collection: Revision of a currently approved collection	Common Form ICR: No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 12/28/2023
Retrieve Notice of Action (NOA)	Date Received in OIRA: 12/18/2023
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2026	36 Months From Approved	12/31/2023
Responses	171,800,000	0	172,600,000
Time Burden (Hours)	2,249,000,000	0	2,211,000,000
Cost Burden (Dollars)	45,365,000,000	0	42,972,000,000

Authorizing Statute(s): PL: Pub.L. 116 - 136 2301 Name of Law: Coronavirus Aid, Relief, and Economic Security (CARES) Act
   US Code: 26 USC 6031 Name of Law: Return of Partnership Income
   US Code: 26 USC 6038B Name of Law: Notice of Certain Transfers or Foreign Presons
   US Code: 26 USC 68 Name of Law: Overall Limitation on Itemized Deducation
   PL: Pub.L. 91 - 508 609 Name of Law: The Fair Credit Reporting Act
   US Code: 26 USC 217 Name of Law: Moving Expenses
   US Code: 26 USC 367(e)(2) Name of Law: Liquidation under Section 332
   US Code: 26 USC 164 Name of Law: Taxes
   US Code: 26 USC 165 Name of Law: Losses
   US Code: 26 USC 170 Name of Law: Charitable, etc. Contributions and Gifts
   US Code: 26 USC 211 Name of Law: Allowance of Deductions
   US Code: 26 USC 212 Name of Law: Expenses for Production of Income
   US Code: 26 USC 213 Name of Law: Medical, Dental, etc. Expenses
   US Code: 26 USC 1233 Name of Law: Gains and Losses from Short Sales
   US Code: 26 USC 32 Name of Law: Earned Income
   US Code: 26 USC 3510 Name of Law: Coordination of Collection of Domestic Service Employment Taxes within Collection of Income Taxes
   US Code: 26 USC 1301 Name of Law: Averaging Farm Income
   US Code: 26 USC 1402 Name of Law: Definitions
   US Code: 26 USC 6411 Name of Law: Tenative Carryback and Refund Adjustments
   US Code: 26 USC 6654 Name of Law: Failure by Individual to Pay Estimated Income Tax
   US Code: 26 USC 179 Name of Law: Election to Expense Certain Depreciable Business Assets
   US Code: 26 USC 280F(b)(2) Name of Law: Recapture
   US Code: 26 USC 72 Name of Law: Annuities; Certain Proceeds of Endowment and Life Insurance Contracts
   US Code: 26 USC 6058 Name of Law: Information Required in Connection With Certain Plans of Deferred Compensation
   US Code: 26 USC 219 Name of Law: Retirement Savings
   US Code: 26 USC 408 Name of Law: Individual Retirement Accounts
   US Code: 26 USC 964(a) Name of Law: Earnings and Profits
   US Code: 26 USC 986(b) Name of Law: Earnings and Profits Distributions
   PL: Pub.L. 115 - 97 11041 Name of Law: Tax Reform Act of 2017
   US Code: 26 USC 1211 Name of Law: Limitation on Capital Losses
   US Code: 26 USC 1212 Name of Law: Capital Loss Carrybacks and Carryovers
   US Code: 26 USC 367(a) Name of Law: Transfers of Property from the United States
   US Code: 26 USC 1221 Name of Law: Capital Asset Defined
   US Code: 26 USC 1222 Name of Law: Other Terms Relating to Capital Gains and Losses
   US Code: 26 USC 1223 Name of Law: Holding Period of Property
   US Code: 26 USC 1231 Name of Law: Property Used in the Trade or Business and Involuntary Conversions
   US Code: 26 USC 6011 Name of Law: General Requirement of Return, Statement, or List
   US Code: 26 USC 6012 Name of Law: Persons Required to Make Returns of Income
   US Code: 26 USC 6404 Name of Law: Abatements
   US Code: 26 USC 61 Name of Law: Gross Income Defined
   US Code: 26 USC 6511 Name of Law: Limitations on Credit or Refund
   US Code: 26 USC 222 Name of Law: Qualified Tuition and Related Expenses
   US Code: 26 USC 6402 Name of Law: Authority to Make Credits or Refunds
   US Code: 26 USC 6096 Name of Law: Designation by Individuals
   US Code: 26 USC 631(b) Name of Law: Disposal of Timber
   US Code: 26 USC 163 Name of Law: Interest
   PL: Pub.L. 109 - 432 101 Name of Law: Tax Relief and Health Care Act of 2006
   PL: Pub.L. 115 - 97 11001 Name of Law: Tax Cut and Jobs Act
   US Code: 26 USC 631(a) Name of Law: Election to Consider Cutting as a Sale or Exchange
   US Code: 26 USC 1256 Name of Law: Section 1256 Contracts Marked to Market
   US Code: 26 USC 1092 Name of Law: Straddles
   US Code: 26 USC 1298(b)(1) Name of Law: Time for Determination
   US Code: 26 USC 6039G Name of Law: Information on Individuals Losing United States Citizenship
   US Code: 26 USC 108(a) Name of Law: Exclusion from Gross Income
   US Code: 26 USC 67 Name of Law: Two Percent Floor on Miscellaneous Itemized Deductions
   US Code: 26 USC 6038B Name of Law: Notice of Certain Transfers to Foreign Persons
   US Code: 26 USC 1201 Name of Law: Alternative Tax for Corporations
   US Code: 26 USC 1202 Name of Law: Partial Exclusion for Gain from Certain Small Business Stock
   US Code: 26 USC 6038 Name of Law: Information Reporting with Respect to Certain Foreign Corporations and Partnerships
   US Code: 26 USC 1291 Name of Law: Section 1291 Interest on Tax Deferral
   US Code: 26 USC 6046A Name of Law: Returns as to Interest In Foreign Partnerships
   US Code: 26 USC 45E Name of Law: Small Employer Pension Plan Startup Costs
   US Code: 26 USC 45L Name of Law: New Energy Efficient Home Credit

Citations for New Statutory Requirements: PL: Pub.L. 117 - 169 13501 Name of Law: Inflation Reduction Act

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate
Annual Number of Responses	171,800,000	172,600,000	0	0	-800,000
Annual Time Burden (Hours)	2,249,000,000	2,211,000,000	2,000,000	0	36,000,000
Annual Cost Burden (Dollars)	45,365,000,000	42,972,000,000	40,000,000	-21,000,000	2,374,000,000

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The year-over-year change in burden is analyzed and reported by technical adjustments, legislative adjustments, and agency adjustments. Changes Due to Technical Adjustment: The majority of the year-over-year change is due to technical adjustments. The table provided below breaks down the major changes by technical adjustment type. Changes to the Updated FY23 Baseline estimates are primarily driven by an update to the macroeconomic model inputs. Updated tax return data result in a 5% increase in average time burden and a 6% increase in out-of-pocket cost per response. Updated survey data and the associated updated model result in a 1% decrease in average time burden and a 4% decrease in out-of-pocket costs per response. Taking the updated tax data and new survey model together, the technical adjustment increases average time burden by a net 4% and out-of-pocket costs by a net 2%. The FY24 population adjustments transition the underlying data file from FY23 to FY24 which includes aging the data for macroeconomic factors and adjusting weights to account for changes in the year over year population differences. A forecasted decrease in filers is expected to lead a decrease in aggregate time. Forecasted changes in macroeconomic factors are expected to lead to increases in average monetized time, out-of-pocket costs, and monetized burden. Changes Due to Legislative Adjustment: The Inflation Reduction Act introduced changes leading to significant legislative year-over-year changes. The table provided below breaks down the two major legislative changes. Individual filers claiming the Clean Energy incentives are expected to in aggregate incur an additional 1,000,000 burden hours and $23,000,000 in out-of-pocket costs. This increase is primarily attributed to new claimants who are expected to on average incur under an hour of additional time burden and less than $20 of additional out-of-pocket costs. Individual filers claiming Clean Vehicle credits are expected to in aggregate incur an addition 1,000,000 burden hours and $17,000,000 in out-of-pocket costs. This increase is also primarily attributed to new claimants who are expected to on average incur under an hour of additional time burden and less than $20 of additional out-of-pocket costs. There is significant uncertainty about participation rates in these programs. A more precise estimate will be possible when tax year 2023 returns are available. Changes Due to Agency Adjustment: The Inflation Reduction Act introduced one major change leading to a significant agency year-over-year change. The Inflation Reduction Act directed the IRS to pilot a direct file option. The direct file option is expected to decrease aggregate out-of-pocket costs by $21,000,000 and have a negligible impact on time burden.

Annual Cost to Federal Government: $145,159,211

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination. Yes

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination. Yes

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Yes

Is this ICR related to the Pandemic Response? No

Agency Contact: Catina Moody 240 613-0037 catina.d.moody@irs.gov