U.S. Return of Partnership Income (Form 1065) and related Schedules; Amended Return or Administrative Adjustment Request (Form 1065X).

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form Form-1065 U.S. Return of Partnership Income	Form	Modified	Available
Form Form-1065X Amended Return or Administrative Adjustment Request (AAR)	Form	New	Available
Form Schedule B-1 (Form Information on Partners Owning 50% or More of the Partnership	Form and Instruction	New	Available
Form Schedule M-3 Net Income (Loss) Reconciliation for Certain Partnerships	Form	Modified	Available
Form Schedule M-2 Analysis of Partners? Capital Accounts	Form	Modified	Available
Form Schedule M-1 Reconciliation of Income (Loss) per Books With Income (Loss) per Return	Form	Modified	Available
Form Schedule L Balance Sheets per Books	Form	Modified	Available
Form Schedule K-1 Partner's Share of Income, Deductions, Credits, etc.	Form	Modified	Available
Form Schedule D-1 Continuation Sheet for Schedule D	Form	Modified	Available
Form Schedule D Capital Gains and Losses	Form	Modified	Available
Form Schedule C Additional for Schedule M-3 Filers	Form	Modified	Available
Supporting_Statement_(2010).doc	Supporting Statement A	Uploaded 2011-06-30	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
46008	Worksheet for Figuring Net Income	Instruction	Removed
39519	U.S. Return of Partnership Income (Form 1065)	Instruction	Modified
39519	U.S. Return of Partnership Income (Form 1065)	Form	Modified	U.S. Return of Partnership Income
198161	Form 1065X-Amended Return or Administrative Adjustment Request (AAR)	Instruction	New
198161	Form 1065X-Amended Return or Administrative Adjustment Request (AAR)	Form	New	Amended Return or Administrative Adjustment Request (AAR)
195942	Schedule B-1 Information on Partners Owning 50% or More of the Partnership	Form and Instruction	New	Information on Partners Owning 50% or More of the Partnership
186362	Schedule M-3 - Net Income (Loss) Reconciliation for Certain Partnerships	Instruction	Modified
186362	Schedule M-3 - Net Income (Loss) Reconciliation for Certain Partnerships	Form	Modified	Net Income (Loss) Reconciliation for Certain Partnerships
186361	Schedule M-2 - Analysis of Partners’ Capital Accounts	Form	Modified	Analysis of Partners? Capital Accounts
186360	Schedule M-1 - Reconciliation of Income (Loss) per Books With Income (Loss) per Return	Form	Modified	Reconciliation of Income (Loss) per Books With Income (Loss) per Return
186359	Schedule L - Balance Sheets per Books	Form	Modified	Balance Sheets per Books
186358	Schedule K-1--Partner's Share of Income, Deductions, Credits, etc.	Instruction	Modified
186358	Schedule K-1--Partner's Share of Income, Deductions, Credits, etc.	Form	Modified	Partner's Share of Income, Deductions, Credits, etc.
186357	Schedule D - Capital Gains and Losses	Form	Modified	Continuation Sheet for Schedule D
186357	Schedule D - Capital Gains and Losses	Form	Modified	Capital Gains and Losses
186357	Schedule D - Capital Gains and Losses	Instruction	Modified
186356	Schedule C - Additional Information for Schedule M-3 Filers	Instruction	Modified
186356	Schedule C - Additional Information for Schedule M-3 Filers	Form	Modified	Additional for Schedule M-3 Filers

ICR Details

OMB Control No: 1545-0099	ICR Reference No: 201011-1545-001
Status: Historical Active	Previous ICR Reference No: 200808-1545-027
Agency/Subagency: TREAS/IRS	Agency Tracking No: EC-1545-0099-001
Title: U.S. Return of Partnership Income (Form 1065) and related Schedules; Amended Return or Administrative Adjustment Request (Form 1065X).
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved with change	Conclusion Date: 07/08/2011
Retrieve Notice of Action (NOA)	Date Received in OIRA: 02/28/2011
Terms of Clearance: Per OMB request, IRS revised supporting statement to reflect changes in burden.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2014	36 Months From Approved	07/31/2011
Responses	22,184,092	0	21,944,692
Time Burden (Hours)	817,941,214	0	721,761,123
Cost Burden (Dollars)	2,127,889	0	1,687,287

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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. Pursuant to IRC Section 6251, new form 1065X is to be used by partnerships (including electing large partnerships) and real estate mortgage investment conduits (REMIC) to file amended returns or make administrative adjustment requests.

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Authorizing Statute(s): 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
   US Code: 26 USC 45P Name of Law: Employer Wage Credit for Employees Who Are Active Duty Members of the Uniformed Services
   US Code: 26 USC 6251 Name of Law: Administrative adjustment requests
   PL: Pub.L. 110 - 141 2, 8(b) Name of Law: Exclusion From Income for Payments From the Hokie Spirit Memorial Fund
   US Code: 26 USC 45A(f) Name of Law: Indian Employment Credit: (f) Termination
   PL: Pub.L. 110 - 245 111(a) Name of Law: Heroes Earnings Assistance and Relief Tax Act of 2008
   US Code: 26 USC 6031 Name of Law: Return of partnership income
  

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:
	75 FR 42831	07/22/2010
30-day Notice:	Federal Register Citation:	Citation Date:
	76 FR 9869	02/22/2011
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 10

table that charts list of burden

IC Title	Form No.	Form Name
Form 1065X-Amended Return or Administrative Adjustment Request (AAR)	Form-1065X	Amended Return or Administrative Adjustment Request (AAR)
Schedule B-1 Information on Partners Owning 50% or More of the Partnership	Schedule B-1 (Form 1065)	Information on Partners Owning 50% or More of the Partnership
Schedule C - Additional Information for Schedule M-3 Filers	Schedule C	Additional for Schedule M-3 Filers
Schedule D - Capital Gains and Losses	Schedule D, Schedule D-1	Capital Gains and Losses ,   Continuation Sheet for Schedule D
Schedule K-1--Partner's Share of Income, Deductions, Credits, etc.	Schedule K-1	Partner's Share of Income, Deductions, Credits, etc.
Schedule L - Balance Sheets per Books	Schedule L	Balance Sheets per Books
Schedule M-1 - Reconciliation of Income (Loss) per Books With Income (Loss) per Return	Schedule M-1	Reconciliation of Income (Loss) per Books With Income (Loss) per Return
Schedule M-2 - Analysis of Partners’ Capital Accounts	Schedule M-2	Analysis of Partners? Capital Accounts
Schedule M-3 - Net Income (Loss) Reconciliation for Certain Partnerships	Schedule M-3	Net Income (Loss) Reconciliation for Certain Partnerships
U.S. Return of Partnership Income (Form 1065)	Form-1065	U.S. Return of Partnership Income
Worksheet for Figuring Net Income

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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	22,184,092	21,944,692	0	-1,160,700	1,400,100	0
Annual Time Burden (Hours)	817,941,214	721,761,123	0	-2,113,492	98,293,583	0
Annual Cost Burden (Dollars)	2,127,889	1,687,287	0	-1,200	441,802	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: -Changes in Total Annual Time Burden Due to Agency Discretion: Consolidating the "worksheet for figuring net earnings (Loss) from self-employment" into the main form 1065 decreased total annual time burden by 2,512,582 hours; The new form 1065X added for use by partnerships and REMICs to file amended returns or make administrative adjustment requests, pursuant to US Code 26 Section 6251-Administrative Adjustment Request resulted in an increase in total annual time burden hours by 265,590 hours. The new Schedule B-1 increased total annual time burden hours by 133,500. The net change in Total Annual Time Burden due to Agency Discretion is a 2,113,492 decrease to burden hours. -Changes in Total Annual Time Burden Due to Adjustment in Agency Estimate: An increase in projected filers who are expected to file form 1065 resulted in a 99,205,583 increase in total annual time burden hours. Updated burden information along with a more accurate burden computation of the Schedule M-3 has decreased burden by 912,000. The net change in Total Annual Time Burden Due To Adjustment in Agency Estimate is a 98,293,583 increase to burden hours. -Changes in Total Annual Responses Due to Agency Discretion: Consolidating the "worksheet for figuring net earnings (Loss) from self-employment" into the main form 1065 decreased total annual number of responses by 1,219,700. The additional responses from the new form 1065X resulted in a 9,000 increase in the total number of annual responses. New Schedule B-1 increased estimated total annual responses by 50,000. The net change in Total Annual Responses Due to Agency Discretion is a 1,160,700 decrease. -Changes in Total Annual Responses Due to Adjustment in Agency Estimate: An increase in projected filers who are expected to file form 1065 resulted in a 1,400,100 increase to total annual responses. The net change in Total Annual Responses Due to Adjustment in Agency Estimate is a 1,400,100 increase.

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Annual Cost to Federal Government: $2,127,889

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]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

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: 02/28/2011

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