View Information Collection Request (ICR) Package
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View Supporting Statement and Other Documents
Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
1545-0096
ICR Reference No:
200806-1545-023
Status:
Historical Active
Previous ICR Reference No:
200511-1545-057
Agency/Subagency:
TREAS/IRS
Agency Tracking No:
CB-0096-023
Title:
Form 1042, Annual Withholding Tax Return for U.S. Source Income of Foreign Persons; Form 1042-S, Foreign Person's U.S. Source Income Subject to Withholding, Form 1042-T, Annual Summary and
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:
11/12/2008
Retrieve Notice of Action (NOA)
Date Received in OIRA:
09/25/2008
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
11/30/2011
36 Months From Approved
11/30/2008
Responses
1,641,500
0
1,641,500
Time Burden (Hours)
1,329,000
0
976,000
Cost Burden (Dollars)
0
0
0
Abstract:
Form 1042 is used by withholding agents to report tax withheld at source on certain income paid to nonresident alien individuals, foreign partnerships, and foreign corporations to the IRS. Form 1042-S is used by withholding agents to report income and tax withheld to payees. A copy of each 1042-S is filed magnetically or with Form 1042 for information reporting purposes. The IRS uses this information to verify that the correct amount of tax has been withheld and paid to the United States. Form 1042-T is used by withholding agents to transmit Forms 1042-S to the IRS.
Authorizing Statute(s):
US Code:
26 USC 871
Name of Law: Tax on nonresident alien individuals
US Code:
26 USC 1461
Name of Law: Liability for withheld tax
US Code:
26 USC 6103
Name of Law: Confidentiality and disclosure of returns and return information
US Code:
26 USC 1441
Name of Law: Withholding of tax on nonresident aliens
US Code:
26 USC 1442
Name of Law: Withholding of tax on foreign corporations
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
73 FR 22466
04/25/2008
30-day Notice:
Federal Register Citation:
Citation Date:
73 FR 55203
09/24/2008
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
3
IC Title
Form No.
Form Name
Annual Summary and Transmittal of Forms 1042-S
1042-T
Annual Summary and Transmittal of Forms 1042-S
Foreign Person's U.S. Source Income Subject to Withholding
1042-S
Foreign Person's U.S. Source Income Subject to Withholding
Form 1042, Annual Withholding Tax Return for U.S. Source Income of Foreign Persons
1042
Annual Withholding Tax Return for U.S. Source Income of Foreign Persons
ICR Summary of Burden
Total Approved
Previously Approved
Change Due to New Statute
Change Due to Agency Discretion
Change Due to Adjustment in Estimate
Change Due to Potential Violation of the PRA
Annual Number of Responses
1,641,500
1,641,500
0
0
0
0
Annual Time Burden (Hours)
1,329,000
976,000
0
353,000
0
0
Annual Cost Burden (Dollars)
0
0
0
0
0
0
Burden increases because of Program Change due to Agency Discretion:
Yes
Burden Increase Due to:
Miscellaneous Actions
Burden decreases because of Program Change due to Agency Discretion:
Yes
Burden Reduction Due to:
Miscellaneous Actions
Short Statement:
An addition of 3 line items was added to Form 1042 to correct a previous computational error, resulting in an increase of burden hours to 397,100. Form 1042-S was revised, deleting 2 line items to accommodate the treatment of substitute payments prescribed by Notice 97-66 and sanctioned by IRPAC and Chief Counsel (International). This revision resulted in a decrease of burden hours to 928,000. These changes resulted in an overall program change increase of burden hours to 1,329,000.
Annual Cost to Federal Government:
$180,153
Does this IC contain surveys, censuses, or employ statistical methods?
No
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
No
Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]?
Uncollected
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
Uncollected
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
Uncollected
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
MARIA` STAGGERS 2022836577
Common Form ICR:
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It reduces burden on small entities;
(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
(f) It indicates the retention periods for recordkeeping requirements;
(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
(i) It uses effective and efficient statistical survey methodology (if applicable); and
(j) It makes appropriate use of information technology.
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Certification Date:
09/24/2008
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