80_FR_80243 80 FR 79997 - Proposed Collection; Comment Request for Schedule C (Form 1040)

80 FR 79997 - Proposed Collection; Comment Request for Schedule C (Form 1040)

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 80, Issue 246 (December 23, 2015)

Page Range79997-79997
FR Document2015-32153

The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning Schedule C (Form 1040), Profit or Loss From Business.

Federal Register, Volume 80 Issue 246 (Wednesday, December 23, 2015) 
[Federal Register Volume 80, Number 246 (Wednesday, December 23, 2015)]
[Notices]
[Page 79997]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-32153]



[[Page 79997]]

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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Schedule C (Form 1040)

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Department of the Treasury, as part of its continuing 
effort to reduce paperwork and respondent burden, invites the general 
public and other Federal agencies to take this opportunity to comment 
on proposed and/or continuing information collections, as required by 
the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning 
Schedule C (Form 1040), Profit or Loss From Business.

DATES: Written comments should be received on or before February 22, 
2016 to be assured of consideration.

ADDRESSES: Direct all written comments to Michael A. Joplin, Internal 
Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the form and instructions should be directed to Martha R. 
Brinson, Internal Revenue Service, Room 6129, 1111 Constitution Avenue 
NW., Washington, DC 20224, or through the Internet at 
Martha.R.Brinson@irs.gov.

SUPPLEMENTARY INFORMATION: 
    Title: Profit or Loss From Business.
    OMB Number: 1545-1974.
    Form Number: Schedule C (Form 1040).
    Abstract: Schedule C (Form 1040) is used by individuals to report 
their Business Income. The data is used to verify that the items 
reported on the form are correct and also for general statistical use.
    Current Actions: There are no changes being made to the form at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 10,000,236.
    Estimated Time per Respondent: 7 hrs., 10 min.
    Estimated Total Annual Reporting Burden hours: 71,701,693.
    The following paragraph applies to all of the collections of 
information covered by this notice:
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless the collection of 
information displays a valid OMB control number. Books or records 
relating to a collection of information must be retained as long as 
their contents may become material in the administration of any 
internal revenue law. Generally, tax returns and tax return information 
are confidential, as required by 26 U.S.C. 6103.
    Request for Comments: Comments submitted in response to this notice 
will be summarized and/or included in the request for OMB approval. All 
comments will become a matter of public record. Comments are invited 
on: (a) Whether the collection of information is necessary for the 
proper performance of the functions of the agency, including whether 
the information shall have practical utility; (b) the accuracy of the 
agency's estimate of the burden of the collection of information; (c) 
ways to enhance the quality, utility, and clarity of the information to 
be collected; (d) ways to minimize the burden of the collection of 
information on respondents, including through the use of automated 
collection techniques or other forms of information technology; and (e) 
estimates of capital or start-up costs and costs of operation, 
maintenance, and purchase of services to provide information.

    Approved: December 15, 2015.
Michael A. Joplin,
IRS Reports Clearance Officer.
[FR Doc. 2015-32153 Filed 12-22-15; 8:45 am]
BILLING CODE 4830-01-P

Federal Register / Vol. 80, No. 246 / Wednesday, December 23, 2015 / Notices 79997 DEPARTMENT OF THE TREASURY Internal Revenue Service, Room 6129, as their contents may become material 1111 Constitution Avenue NW., in the administration of any internal Internal Revenue Service Washington, DC 20224, or through the revenue law. Generally, tax returns and Internet at Martha.R.Brinson@irs.gov. tax return information are confidential, Proposed Collection; Comment SUPPLEMENTARY INFORMATION: as required by 26 U.S.C. 6103. Request for Schedule C (Form 1040) Title: Profit or Loss From Business. Request for Comments: Comments AGENCY: Internal Revenue Service (IRS), OMB Number: 1545–1974. Form Number: Schedule C (Form submitted in response to this notice will Treasury. be summarized and/or included in the ACTION: Notice and request for 1040). Abstract: Schedule C (Form 1040) is request for OMB approval. All comments. comments will become a matter of used by individuals to report their SUMMARY: The Department of the Business Income. The data is used to public record. Comments are invited on: Treasury, as part of its continuing effort verify that the items reported on the (a) Whether the collection of to reduce paperwork and respondent form are correct and also for general information is necessary for the proper burden, invites the general public and statistical use. performance of the functions of the other Federal agencies to take this Current Actions: There are no changes agency, including whether the opportunity to comment on proposed being made to the form at this time. information shall have practical utility; and/or continuing information Type of Review: Extension of a (b) the accuracy of the agency’s estimate collections, as required by the currently approved collection. of the burden of the collection of Paperwork Reduction Act of 1995, Affected Public: Business or other for- information; (c) ways to enhance the Public Law 104–13 (44 U.S.C. profit organizations. quality, utility, and clarity of the 3506(c)(2)(A)). Currently, the IRS is Estimated Number of Respondents: information to be collected; (d) ways to soliciting comments concerning 10,000,236. Estimated Time per Respondent: 7 minimize the burden of the collection of Schedule C (Form 1040), Profit or Loss information on respondents, including From Business. hrs., 10 min. Estimated Total Annual Reporting through the use of automated collection DATES: Written comments should be techniques or other forms of information Burden hours: 71,701,693. received on or before February 22, 2016 The following paragraph applies to all technology; and (e) estimates of capital to be assured of consideration. of the collections of information covered or start-up costs and costs of operation, ADDRESSES: Direct all written comments by this notice: maintenance, and purchase of services to Michael A. Joplin, Internal Revenue An agency may not conduct or to provide information. Service, Room 6129, 1111 Constitution sponsor, and a person is not required to Approved: December 15, 2015. Avenue NW., Washington, DC 20224. respond to, a collection of information Michael A. Joplin, FOR FURTHER INFORMATION CONTACT: unless the collection of information Requests for additional information or displays a valid OMB control number. IRS Reports Clearance Officer. copies of the form and instructions Books or records relating to a collection [FR Doc. 2015–32153 Filed 12–22–15; 8:45 am] should be directed to Martha R. Brinson, of information must be retained as long BILLING CODE 4830–01–P tkelley on DSK3SPTVN1PROD with NOTICES VerDate Sep<11>2014 18:05 Dec 22, 2015 Jkt 238001 PO 00000 Frm 00181 Fmt 4703 Sfmt 9990 E:\FR\FM\23DEN1.SGM 23DEN1


Document Created: 2018-03-02 09:21:11
Document Modified: 2018-03-02 09:21:11
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
ActionNotice and request for comments.
DatesWritten comments should be received on or before February 22, 2016 to be assured of consideration.
ContactRequests for additional information or copies of the form and instructions should be directed to Martha R. Brinson, Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224, or through the Internet at [email protected]
FR Citation80 FR 79997 
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