Disapproved and
continued. The proposed collection is not the least burdensome
necessary for the proper performance of the agency's functions as
required by part 1320.4 (b) of the OMB regulations implementing the
Paperwork Reduction Act. The clarity of the current form can be
increased significantly for 1989 and subsequent tax years for all
filers who may use it and filing for owners of small woodlots can
be simplified through reorganization of the current form or throug
development of a separate form. Specific items identified for
clarification on the revised form include: 1) 12 and 27, whether
one item can be eliminated, 2) 16, the interpretation of other
considerations, 3) 19, an instruction that only (d) should be
filled for "sales of timber only," 4) 13, should be deleted for
small sales, and 5) 19, clarification should be provided to
indicate that information for adjusted cost is for sales within the
tax year. In addition, the Department has agreed to delete item 50
(a) describin the log transportation system and suggesting the
inclusion of maps. OMB action on this review reflects the need for
updating this collection requirement in response to changes in the
structure of the lumber industry. The Department should request by
an Inventory Correction Worksheet an extension of the expiration
date to provide adequate time for preparation of a revised
submission.
Inventory as of this Action
Requested
Previously Approved
10/31/1989
10/31/1989
10/31/1989
37,000
0
37,000
211,000
0
211,000
0
0
0
FORM T IS USED BY ANY TAXPAYER WHO IS
CLAIMING A DEDUCTION FOR THE DEPLETION OF TIMBER. THE FORM SHOWS
THE BASIS FOR THE TIMBER (COST PL ANY IMPROVEMENTS) AND AMOUNT OF
DEPLETION TAKEN FOR TIMBER CUT. THE I USES FORM T TO DETERMINE IF
THE DEPLETION DEDUCTION IS CORRECTLY COMPUTED.
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.