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.

-----------------------------------------------------------------------

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
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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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