Form 1125-A, Cost of Goods Sold; Form 1125-E, Compensation of Officers.

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form 1125-E Form 1125-E, Compensation of Officers	Form	New	Available
Form 1125-A Form 1125-A, Cost of Goods Sold	Form and Instruction	New	Available
Expiration Explanation.doc	Supplementary Document	Uploaded 2011-10-20	Available
SuppStmnt Form 1125-A and 1125-E.pdf	Supporting Statement A	Uploaded 2012-01-05	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
199443	Form 1125-E, Compensation of Officers	Form	New
199441	Form 1125-A, Cost of Goods Sold	Form and Instruction	New

ICR Details

OMB Control No: 1545-2225	ICR Reference No: 201109-1545-026
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: TREAS/IRS	Agency Tracking No: 1545-XXXX-026
Title: Form 1125-A, Cost of Goods Sold; Form 1125-E, Compensation of Officers.
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved with change	Conclusion Date: 01/06/2012
	Date Received in OIRA: 12/22/2011
Terms of Clearance: Modifications made to supporting statement to better reflect purpose of information collection.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2015	36 Months From Approved
Responses	6,560,000	0	0
Time Burden (Hours)	44,085,600	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: Form 1125-A: During a re-design of Form 1120, U.S. Corporation Income Tax Return, related to the inclusion of "Merchant Card Receipts", it was deemed to be more efficient to present the data required to report "Cost of Goods Sold" on a new form. This new form, 1125-A, will be attached to form 1120, as well as to other forms that require this information. Form 1125-E: Similarly, during the re-design of Form 1120, U.S. Corporation Income Tax Return, related to the inclusion of "Merchant Card Receipts", it was deemed to be more efficient to capture the data required to report "Compensation of Officers" on a new form. This new form, 1125-E, would be attached to form 1120, as well as to other forms that require this information.

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Authorizing Statute(s): US Code: 26 USC 6012 Name of Law: Persons Required to Make Returns of 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:
	76 FR 44658	07/26/2011
30-day Notice:	Federal Register Citation:	Citation Date:
	76 FR 79272	12/21/2011
Did the Agency receive public comments on this ICR? No

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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
Form 1125-A, Cost of Goods Sold	1125-A	Cost of Goods Sold
Form 1125-E, Compensation of Officers	1125-E	Compensation of Officers

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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	6,560,000	0	0	6,560,000	0	0
Annual Time Burden (Hours)	44,085,600	0	0	44,085,600	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: No

Burden Reduction Due to:

Short Statement: Form 1120, U.S. Corporation Income Tax Return, was re-designed for tax year 2011. In the previous version of Form 1120, "Cost of Goods Sold" was calculated on Schedule A of the form, and "Compensation of Officers" was calculated on Schedule E of the form. During the re-design of Form 1120, it was deemed to be more efficient to present the data required to report both "Cost of Goods Sold" and "Compensation of Officers" on new, separate forms; Form 1125-A, "Cost of Goods Sold", and Form 1125-E, "Compensation of Officers". These forms will be attached to form 1120, as well as to other forms that require this information. It is estimated that 3,560,000 respondents will file Form 1125-A, with each response requiring approximately 8 hours, 44 minutes. This results in a burden for this form of 31,185,600 hours. It is estimated that 3,000,000 respondents will file Form 1125-E, with each response requiring approximately 4 hours, 30 minutes. This results in a burden for this form of 12,900,000 hours. The total estimated burden for these two forms is 44,085,000 hours.

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Annual Cost to Federal Government:

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: 12/22/2011

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