Sections 6011 & 6012 of the Internal Revenue Code (IRC), require individuals to prepare and file income tax returns annually. These forms and related schedules are used by individuals to report their income subject to tax and compute their correct tax liability. IRS uses the data collected on these forms and their schedules to compute tax liability and determine that the items claimed are properly allowable. This information is also used for general statistical purposes.
US Code:
26 USC 6038B
Name of Law: Notice of Certain Transfers or Foreign Presons
US Code:
26 USC 68
Name of Law: Overall Limitation on Itemized Deducation
PL:
Pub.L. 91 - 508 609
Name of Law: The Fair Credit Reporting Act
US Code:
26 USC 217
Name of Law: Moving Expenses
US Code:
26 USC 367(e)(2)
Name of Law: Liquidation under Section 332
US Code:
26 USC 164
Name of Law: Taxes
US Code:
26 USC 165
Name of Law: Losses
US Code:
26 USC 170
Name of Law: Charitable, etc. Contributions and Gifts
US Code:
26 USC 211
Name of Law: Allowance of Deductions
US Code:
26 USC 212
Name of Law: Expenses for Production of Income
US Code:
26 USC 213
Name of Law: Medical, Dental, etc. Expenses
US Code:
26 USC 1233
Name of Law: Gains and Losses from Short Sales
US Code:
26 USC 32
Name of Law: Earned Income
US Code:
26 USC 3510
Name of Law: Coordination of Collection of Domestic Service Employment Taxes within Collection of Income Taxes
US Code:
26 USC 1301
Name of Law: Averaging Farm Income
US Code:
26 USC 1402
Name of Law: Definitions
US Code:
26 USC 6411
Name of Law: Tenative Carryback and Refund Adjustments
US Code:
26 USC 6654
Name of Law: Failure by Individual to Pay Estimated Income Tax
US Code:
26 USC 179
Name of Law: Election to Expense Certain Depreciable Business Assets
US Code:
26 USC 280F(b)(2)
Name of Law: Recapture
US Code:
26 USC 72
Name of Law: Annuities; Certain Proceeds of Endowment and Life Insurance Contracts
US Code:
26 USC 6058
Name of Law: Information Required in Connection With Certain Plans of Deferred Compensation
US Code:
26 USC 219
Name of Law: Retirement Savings
US Code:
26 USC 408
Name of Law: Individual Retirement Accounts
US Code:
26 USC 964(a)
Name of Law: Earnings and Profits
US Code:
26 USC 986(b)
Name of Law: Earnings and Profits Distributions
US Code:
26 USC 1256
Name of Law: Section 1256 Contracts Marked to Market
US Code:
26 USC 1092
Name of Law: Straddles
US Code:
26 USC 1298(b)(1)
Name of Law: Time for Determination
US Code:
26 USC 1291
Name of Law: Section 1291 Interest on Tax Deferral
US Code:
26 USC 6046A
Name of Law: Returns as to Interest In Foreign Partnerships
US Code:
26 USC 45E
Name of Law: Small Employer Pension Plan Startup Costs
US Code:
26 USC 45L
Name of Law: New Energy Efficient Home Credit
US Code:
26 USC 6039G
Name of Law: Information on Individuals Losing United States Citizenship
US Code:
26 USC 108(a)
Name of Law: Exclusion from Gross Income
US Code:
26 USC 67
Name of Law: Two Percent Floor on Miscellaneous Itemized Deductions
US Code:
26 USC 1201
Name of Law: Alternative Tax for Corporations
US Code:
26 USC 1202
Name of Law: Partial Exclusion for Gain from Certain Small Business Stock
US Code:
26 USC 631(b)
Name of Law: Disposal of Timber
US Code:
26 USC 163
Name of Law: Interest
PL:
Pub.L. 109 - 432 101
Name of Law: Tax Relief and Health Care Act of 2006
PL:
Pub.L. 115 - 97 11001
Name of Law: Tax Cut and Jobs Act
US Code:
26 USC 631(a)
Name of Law: Election to Consider Cutting as a Sale or Exchange
PL:
Pub.L. 116 - 136 2301
Name of Law: Coronavirus Aid, Relief, and Economic Security (CARES) Act
US Code:
26 USC 6031
Name of Law: Return of Partnership Income
US Code:
26 USC 6038
Name of Law: Information Reporting with Respect to Certain Foreign Corporations and Partnerships
US Code:
26 USC 6038B
Name of Law: Notice of Certain Transfers to Foreign Persons
US Code:
26 USC 367(a)
Name of Law: Transfers of Property from the United States
PL:
Pub.L. 115 - 97 11041
Name of Law: Tax Reform Act of 2017
US Code:
26 USC 1211
Name of Law: Limitation on Capital Losses
US Code:
26 USC 1212
Name of Law: Capital Loss Carrybacks and Carryovers
US Code:
26 USC 1221
Name of Law: Capital Asset Defined
US Code:
26 USC 1222
Name of Law: Other Terms Relating to Capital Gains and Losses
US Code:
26 USC 1223
Name of Law: Holding Period of Property
US Code:
26 USC 1231
Name of Law: Property Used in the Trade or Business and Involuntary Conversions
US Code:
26 USC 6011
Name of Law: General Requirement of Return, Statement, or List
US Code:
26 USC 6012
Name of Law: Persons Required to Make Returns of Income
US Code:
26 USC 6404
Name of Law: Abatements
US Code:
26 USC 61
Name of Law: Gross Income Defined
US Code:
26 USC 6511
Name of Law: Limitations on Credit or Refund
US Code:
26 USC 222
Name of Law: Qualified Tuition and Related Expenses
US Code:
26 USC 6402
Name of Law: Authority to Make Credits or Refunds
US Code:
26 USC 6096
Name of Law: Designation by Individuals
PL: Pub.L. 117 - 2 Section 9611(a) and (b)(1) Name of Law: American Rescue Plan Act of 2021
Child Tax Credit Update Portal and Non-filer Sign-up Tool:
As part of Public Law 117-2, American Rescue Plan Act of 2021 beginning in July and ending in December, up to half of the child tax credit will be advanced to eligible family by Treasury and the IRS. The 2021 change request was submitted to include temporary burden reflective of the addition of the Child Tax Credit Tools. The burden was increased by 37,542,000 estimated responses and 145,542,000 burden hours. There were no forms involved with these new tools. This temporary burden has been removed effective January 2022. The reconciliation of any future burden related to these tools has been incorporated under Changes Due to Legislative Adjustment, below.
Changes Due to Technical Adjustment:
The overall year-over-year change is mostly due to technical adjustments. The table provided in the supporting statement, breaks down the major changes by technical adjustment type. Changes to the Updated FY21 Baseline estimates are driven by an overestimate of the number of Form 1040 filings, an underestimate of the number of Form 1040X filings, and an update to the macroeconomic model inputs. The remaining technical changes are from updated data and an improving 2021 economy that is also experiencing higher inflation.
Changes Due to Legislative Adjustment:
There were two significant year-over-year legislative changes impacting this collection. The expansion of the “no child” Earned Income Tax Credit is estimated to increase aggregate time burden by 7,000,000 hours and aggregate out-of-pocket cost by $73,000,000. The reconciliation of the Advance Child Tax Credit payments is estimated to increase aggregate time by 5,000,000 hours and aggregate out-of-pocket costs by $92,000,000.
Changes Due to Agency Adjustment:
There were no significant year-over-year Agency changes impacting this collection.
$15,925,427
No
Yes
Yes
No
No
Yes
No
Gregg Lynam 202 622-4056
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:
(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;
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.
1545-0074 Supporting Statement (2021).docx
2021 Govt Cost Burdens 1545-0074.pdf
Economic Stimulus Payment Tool