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:
1545-0092
ICR Reference No:
202308-1545-008
Status:
Historical Active
Previous ICR Reference No:
202203-1545-005
Agency/Subagency:
TREAS/IRS
Agency Tracking No:
Title:
U.S. Income Tax Return for Estates and Trusts
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:
12/13/2023
Retrieve Notice of Action (NOA)
Date Received in OIRA:
08/30/2023
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
12/31/2026
36 Months From Approved
12/31/2023
Responses
11,330,423
0
10,492,023
Time Burden (Hours)
356,948,857
0
333,541,340
Cost Burden (Dollars)
0
0
0
Abstract:
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 file the proper returns and paid the correct tax. The various schedules (Schedule D, I, J, and K-I) are used in the collection of information under the various authorizing statutes seen below (Legal Statutes). The worksheets are used to figure various taxes and deductions. Form 1041-V allows the Internal Revenue Service (IRS) to process the payment more accurately and efficiently. The IRS strongly encourages the use of Form 1041-V, but there is no penalty if it is not used.
Authorizing Statute(s):
US Code:
26 USC 6012
Name of Law: Persons required to make returns of income
US Code:
26 USC 641
Name of Law: Imposition of tax
US Code:
26 USC 671
Name of Law: Trust income, deductions, and credits attributable to grantors and others as substantial owners
US Code:
26 USC 59
Name of Law: Other definitions and special rules
PL:
Pub.L. 115 - 97 14103
Name of Law: Tax Cuts and Jobs Act
US Code:
26 USC 652
Name of Law: Inclusion of amounts in gross income of beneficiaries of trusts distributing current income only
US Code:
26 USC 662
Name of Law: Inclusion of amounts in gross income of beneficiaries of estates and trusts accumulating income or d
US Code:
26 USC 55(a)
Name of Law: Alternative Minimum Tax Imposed
US Code:
26 USC 643(g)
Name of Law: Definitions applicable to subparts A, B, C, and D; Certain payments of estimated tax treated as pai
US Code:
26 USC 666
Name of Law: Accumulation distribution allocated to preceding years
US Code:
26 USC 677
Name of Law: Income for benefit of grantor
US Code:
26 USC 679
Name of Law: Foreign trusts having one or more United States beneficiaries
US Code:
26 USC 6654
Name of Law: Failure by individual to pay estimated income tax; Addition to the Tax
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:
88 FR 34565
05/30/2023
30-day Notice:
Federal Register Citation:
Citation Date:
88 FR 60012
08/30/2023
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
11
IC Title
Form No.
Form Name
28% Rate Gain Worksheet
Capital Loss Carryover Worksheet
FAQs for PL 115-97 Section 14103
Form 1041-V - Payment Voucher
1041-V
Payment Voucher
Qualified Dividends Tax Worksheet
Qualified Mortgage Insurance Premiums Deduction Worksheet
Schedule D - Capital Gains and Losses
Schedule D (Form 1041)
Capital Gains and Losses
Schedule D Tax Worksheet
Schedule I - Alternative Minimum Tax - Estates and Trusts
Schedule I (Form 1041)
Alternative Minimum Tax - Estates and Trusts
Schedule J - Accumulation Distribution for Certain Complex Trusts
Schedule J (Form 1041)
Accumulation Distribution for Certain Complex Trusts
Schedule K-1 - Beneficiary's Share of Income, Deductions, Credits, etc.
Schedule K-1 (Form 1041)
Beneficiary's Share of Income, Deductions, Credits, and Other Items
U.S. Income Tax Return for Estates and Trusts
1041
U.S. Income Tax Return for Estates and Trusts
Unrecaptured Section 1250 Gain Worksheet
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
11,330,423
10,492,023
0
-5,123
843,523
0
Annual Time Burden (Hours)
356,948,857
333,541,340
0
8,695,920
14,711,597
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:
The number of responses changed based on current filing data. This increases the number of responses by 843,523 and the burden hours by 14,711,597 due to Agency Estimate. Form 1041 was updated to remove obsolete credits, added a new elective payment election, and separate checkboxes and sublines for clarity. The “Mortgage Insurance Premiums Deduction Worksheet” and the “FAQs for PL 115-97 Section 14103” information collections are obsolete and were removed from the submission. This decreases the responses by 5,123 and increases the burden hours by 8,695,920 due to Agency Discretion.
Annual Cost to Federal Government:
$795,566
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)?
No
Is this ICR related to the Pandemic Response?
No
Agency Contact:
Trene Cheek 240 613-5701 trene.d.cheek@irs.gov
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:
08/30/2023
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