Table of Contents
We ask for the information on this form to carry out the Internal Revenue laws of the United States. You are required to give us the information. We need it to ensure that you are complying with these laws and to allow us to figure and collect the right amount of tax.
You are not required to provide the information requested on a form that is subject to the Paperwork Reduction Act unless the form displays a valid OMB control number. Books or records relating to a form or its instructions must be retained as long as their contents may become material in the administration of any Internal Revenue law. Generally, tax returns and return information are confidential, as required by section 6103.
The time needed to complete and file this form and related schedules will vary depending on individual circumstances. The estimated average times are:
|Form||Recordkeeping||Learning about the law
or the form
|Preparing and sending
the form to the IRS
|1118||71 hr., 16 min.||17 hr., 44 min.||20 hr., 53 min.|
|Sch. I (Form 1118)||9 hr., 19 min.||1 hr.||1 hr., 11 min.|
|Sch. J (Form 1118)||22 hr., 43 min.||1 hr., 23 min.||1 hr., 49 min.|
If you have comments concerning the accuracy of these time estimates or suggestions for making this form and related schedules simpler, we would be happy to hear from you. See the instructions for the tax return with which this form is filed.
|More Online Instructions|