View Information Collection Request (ICR) Package
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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:
1545-1593
ICR Reference No:
201306-1545-030
Status:
Historical Active
Previous ICR Reference No:
201302-1545-011
Agency/Subagency:
TREAS/IRS
Agency Tracking No:
Title:
U.S. Income Tax Return for Qualified Funeral Trusts
Type of Information Collection:
No material or nonsubstantive change to a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
12/10/2013
Retrieve Notice of Action (NOA)
Date Received in OIRA:
12/05/2013
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
04/30/2016
04/30/2016
04/30/2016
Responses
15,000
0
15,000
Time Burden (Hours)
277,500
0
270,150
Cost Burden (Dollars)
0
0
0
Abstract:
IRC section 685 allows the trustee of a qualified funeral trust to elect to report and pay the tax for the trust. Data is used to determine that the trustee filed the proper return and paid the correct tax.
Authorizing Statute(s):
US Code:
26 USC 685
Name of Law: Treatment of funeral costs.
Citations for New Statutory Requirements:
PL: Pub.L. 111 - 152 1141
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:
77 FR 64378
10/19/2012
30-day Notice:
Federal Register Citation:
Citation Date:
78 FR 13758
02/28/2013
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
1
IC Title
Form No.
Form Name
U.S. Income Tax Return for Qualified Funeral Trusts
1041 QFT
U.S. Income Tax Return for Qualified Funeral Trusts
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
15,000
15,000
0
0
0
0
Annual Time Burden (Hours)
277,500
270,150
7,350
0
0
0
Annual Cost Burden (Dollars)
0
0
0
0
0
0
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 new investment tax, under IRC section 1411, effective for tax years beginning after December 31, 2012, will be included on Form 1041-QFT by inserting new lines at 15 and 16 of the form and renumbering the remaining lines to accommodate the additions. P.L. 111-152. Net investment income tax. For tax years beginning in 2013, an estate or trust may be subject to net investment income tax (NIIT). NIIT is a 3.8% tax on the lesser of an estate's or trust's undistributed net investment income or the excess of the estate's or trust's adjusted gross income over a specified threshold amount. NIIT may need to be included when figuring estimated tax. The increase of 7,350 burden hours is due to new statute.
Annual Cost to Federal Government:
$200
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]?
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)?
No
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Esther Woodworth 202 622-3090
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:
12/05/2013
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