94-16684. Public Information Collection Requirements Submitted to OMB for Review

[Federal Register Volume 59, Number 131 (Monday, July 11, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-16684]


[[Page Unknown]]

[Federal Register: July 11, 1994]


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DEPARTMENT OF THE TREASURY
 

Public Information Collection Requirements Submitted to OMB for 
Review

July 1, 1994.
    The Department of the Treasury has submitted 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: 1545-0085.
Form Number: IRS Form 1040A, Schedule 1 (Form 1040A), Schedule 2 (Form 
1040A), Schedule 3 (Form 1040A), and Schedule EIC (Form 1040A)
Type of Review: Revision.
Title: U.S. Individual Income Tax Return.
Description: This form is used by individuals to report their income 
subject to income tax and to compute their correct tax liability. The 
data is used to verify that the income reported on the form is correct 
and are also for statistical use.
Respondents: Individuals or households.
Estimated Number of Respondents/Recordkeepers: 26,544,784.
Estimated Burden Hours Per Respondent/Recordkeeper:

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                       Form 1040A      Sch. 1 (1040A)    Sch. 2 (1040A)    Sch. 3 (1040A)     Sch. EIC (1040A)  
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Recordkeeping....  1 hr., 3 min.....  20 min..........  33 min..........  13 min..........  0 min.              
Learning about     2 hr., 15 min....  4 min...........  11 min..........  14 min..........  2 min.              
 the law or the                                                                                                 
 form.                                                                                                          
Preparing the      2 hr., 52 min....  10 min..........  41 min..........  28 min..........  4 min.              
 form.                                                                                                          
Copying,           35 min...........  20 min..........  28 min..........  35 min..........  20 min.             
 assembling, and                                                                                                
 sending the form                                                                                               
 to the IRS.                                                                                                    
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Frequency of Response: Annually.
Estimated Total Reporting/Recordkeeping Burden: 219,904,045 hours.
OMB Number: 1545-0998.
Form Number: IRS Form 8615.
Type of Review: Extension.
Title: Tax for Children Under Age 14 Who Have Investment Income of More 
Than $1,000.
Description: Under section 1(g) of the Internal Revenue Code, children 
under age 14 who have unearned income may be taxed on part of that 
income at their parent's tax rate. Form 8615 is used to see if any of 
the child's unearned income is taxed at the parent's rate and, if so, 
to figure the child's tax on his or her unearned income and earned 
income, if any.
Respondents: Individuals or households.
Estimated Number of Respondents/Recordkeepers: 500,000.
Estimated Burden Hours Per Respondent/Recordkeeper:

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Recordkeeping.........................................  13 minutes.     
Learning about the law or the form....................  12 minutes.     
Preparing the form....................................  45 minutes.     
Copy, assembling, and sending the form to the IRS.....  17 minutes.     
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Frequency of Response: Annually.
Estimated Total Reporting/Recordkeeping Burden: 730,000 hours.
Clearance Officer: Garrick Shear [phone], Internal Revenue 
Service, Room 5571, 1111 Constitution Avenue, NW., Washington, DC 
20224.
OMB Reviewer: Milo Sunderhauf [phone], Office of Management and 
Budget, Room 10226, New Executive Office Building, Washington, DC 
20503.
Lois K. Holland,
Departmental Reports Management Officer.
[FR Doc. 94-16684 Filed 7-8-94; 8:45 am]
BILLING CODE 4830-01-P