THE REGULATIONS PRESCRIBE RULES TO
DETERMINE THE TAX TREATMENT OF GAIN FROM THE DISPOSITION OF OIL,
GAS, OR GEOTHERMAL PROPERTY. GAIN THAT I SUBJECT TO RECAPTURE
GENERALLY AND TREATED AS ORDINARY GAIN WITH RESPECT TO A
DISPOSITION OF SUCH PROPERTY IS THE AMOUNT OF INTANGIBLE DRILLING
AND DEVELOPMENT COSTS THAT HAD BEEN DEDUCTED UNDER SECTION 263(C)
WITH RESPECT TO SUCH PROPERTY.
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.