U.S. Return of Partnership Income (Form 1065); Capital Gains and Losses (Schedule D); and Partner's Share of Income, Credits, Deductions, etc. (Schedule K-1)

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form Schedule M-3 (Form Net Income (Loss) Reconciliation for Certain Partnerships	Form	Modified	Available
Form Form 1065 U.S. Return of Partnership Income (Form 1065); Capital Gains and Losses (Schedule D); and Partner's Share of Income, Credits, Deductions, etc. (Schedule K-1)	Form	Modified	Available
F1065_Sup Stmnt_chg 1.doc	Supporting Statement A	Uploaded 2007-06-29	Available
F1065_Sch M-3_brdn_busi_chg 1.pdf	Supplementary Document	Uploaded 2007-06-29	Available
F1065_Sch M-2_brdn_busi.PDF	Supplementary Document	Uploaded 2007-06-29	Available
F1065_Sch M-1_brdn_busi.PDF	Supplementary Document	Uploaded 2007-06-29	Available
F1065_Sch L_brdn_busi.PDF	Supplementary Document	Uploaded 2007-06-29	Available
F1065_Sch K-1_brdn_busi.PDF	Supplementary Document	Uploaded 2007-06-29	Available
F1065_Sch D_brdn_busi_chg 1.pdf	Supplementary Document	Uploaded 2007-06-29	Available
F1065_Wk_Sht_brdn_busi.PDF	Supplementary Document	Uploaded 2007-06-29	Available
F1065_brdn_busi_chg 1.pdf	Supplementary Document	Uploaded 2007-06-29	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
46008	Net Income (Loss) Reconciliation for Certain Partnerships	Form	Modified
39519	U.S. Return of Partnership Income (Form 1065); Capital Gains and Losses (Schedule D); and Partner's Share of Income, Credits, Deductions, etc. (Schedule K-1)	Form	Modified

ICR Details

OMB Control No: 1545-0099	ICR Reference No: 200706-1545-041
Status: Historical Active	Previous ICR Reference No: 200611-1545-016
Agency/Subagency: TREAS/IRS	Agency Tracking No: CB-0099-041
Title: U.S. Return of Partnership Income (Form 1065); Capital Gains and Losses (Schedule D); and Partner's Share of Income, Credits, Deductions, etc. (Schedule K-1)
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 02/01/2008
	Date Received in OIRA: 07/30/2007
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2011	36 Months From Approved	01/31/2008
Responses	21,894,692	0	21,894,692
Time Burden (Hours)	803,424,312	0	996,274,280
Cost Burden (Dollars)	0	0	0

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Abstract: IRC section 6031 requires partnerships to file returns that show gross income items, allowable deductions, partners' names, addresses, and distribution shares, and other information. This information is used to verify correct reporting of partnership items and for general statistics.

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Authorizing Statute(s): US Code: 26 USC 6031 Name of Law: Return of partnership income
   US Code: 26 USC 6698 Name of Law: Failure to file partnership return
   US Code: 26 USC 6103 Name of Law: Confidentiality and disclosure of returns and return information
   US Code: 26 USC 6011 Name of Law: General requirement of return, statement, or list
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	72 FR 21073	04/27/2007
30-day Notice:	Federal Register Citation:	Citation Date:
	72 FR 40365	07/24/2007
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 2

table that charts list of burden

IC Title	Form No.	Form Name
U.S. Return of Partnership Income (Form 1065); Capital Gains and Losses (Schedule D); and Partner's Share of Income, Credits, Deductions, etc. (Schedule K-1)	Form 1065, Form 1065 (Schedule D), Schedule K-1 (Form 1065)	U.S. Return of Partnership Income ,   Capital Gains and Losses ,   Partner's Share of Income, Deductions, Credits, etc
Net Income (Loss) Reconciliation for Certain Partnerships	Schedule M-3 (Form 1065)	Net Income (Loss) Reconciliation for Certain Partnerships

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ICR Summary of Burden

table that charts list of burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	21,894,692	21,894,692	0	0	0	0
Annual Time Burden (Hours)	803,424,312	996,274,280	0	-192,849,968	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: Burden increased due to the revision of Schedule M-3 (Form 1065) IC. This revision resulted in an addition of 1 Form Attachment and 38 Code References. Burden decreased due to the revision of Form 1065 IC, removing Schedules B-1, B-2, and B-3. Also the Line Items on Form 1065 were decreased by 23; 1 Form Attachment and 39 Code References were added. The increase and decrease of the two ICs resulted in an overall decrease of -192,849,968 burden hours.

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Annual Cost to Federal Government: $1,687,287

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 07/30/2007

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