95-18133. Public Information Collection Requirements Submitted to OMB for Review.

[Federal Register Volume 60, Number 141 (Monday, July 24, 1995)]
[Notices]
[Page 37917]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-18133]



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DEPARTMENT OF THE TREASURY


Public Information Collection Requirements Submitted to OMB for 
Review.

July 17, 1995.
    The Department of Treasury has made revisions and resubmitted 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: 1545-0092
Form Number: IRS Form 1041 and Related Schedules D, J, and K-1
Type of Review: Resubmission
Title: U.S. Fiduciary Income Tax Return for Estates and Trusts (1041); 
Capital Gains and Losses (Schedule D); Accumulation Distribution for a 
Complex Trust (Schedule J); and Beneficiary's Share of Income, 
Deductions, Credits (Schedule K-1)
Description: Internal Revenue Code (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 filed the 
proper returns and paid the correct tax. IRC section 59 requires the 
fiduciary to recompute the distributable net income on a minimum tax 
basis.
Respondents: Business or other for-profit, Individuals or households
Estimated Number of Respondents/Recordkeepers: 2,500,000
Estimated Burden Hours Per Respondent/Recordkeeper:

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                                              Form 1041        Schedule D        Schedule J       Schedule K-1  
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Recordkeeping...........................  40 hours, 53      16 hours, 1       39 hours, 28      8 hours, 22     
                                           minutes.          minute.           minutes.          minutes.       
Learning about the law or the form......  18 hours, 37      1 hour, 47        1 hour, 5         1 hour, 12      
                                           minutes.          minutes.          minutes.          minutes.       
Preparing the form......................  34 hours, 58      2 hours, 8        1 hour, 47        1 hour, 23      
                                           minutes.          minutes.          minutes.          minutes.       
Copying, assembling, and sending the      4 hours, 1                                                            
 form to the IRS.                          minute.                                                              
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Frequency of Response: Annually
Estimated Total Reporting Burden: 250,021,241 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.
Dale A. Morgan,
Departmental Reports Management Officer.
[FR Doc. 95-18133 Filed 7-21-95; 8:45 am]
BILLING CODE 4830-01-P