Excise Tax on Certain Transfers of Qualifying Geothermal or Mineral Interests

Forms and Documents

Document	Type	Status	Availability
Form 8924 Excise Tax on Certain Transfers of Qualifying Geothermal or Mineral Interests	Form and Instruction	New	Available
Section 403 (Division C)PL 109-432.pdf	Justification for No Material/Nonsubstantive Change	Uploaded 2008-02-27	Available
8924 brdn_busi.PDF	Supplementary Document	Uploaded 2008-02-27	Available
ombat2.doc	Supplementary Document	Uploaded 2008-02-27	Available
Supporting Statement (Form 8924).doc	Supporting Statement A	Uploaded 2008-02-27	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
183929	Excise Tax on Certain Transfers of Qualifying Geothermal or Mineral Interests	Form and Instruction	New

ICR Details

OMB Control No: 1545-2099	ICR Reference No: 200802-1545-015
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: TREAS/IRS	Agency Tracking No: Requested response by 3/5
Title: Excise Tax on Certain Transfers of Qualifying Geothermal or Mineral Interests
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 03/17/2008
OIRA Conclusion Action: Approved without change	Conclusion Date: 04/30/2008
	Date Received in OIRA: 03/13/2008
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	10/31/2008	6 Months From Approved
Responses	100	0	0
Time Burden (Hours)	555	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: Form 8924, Excise Tax on Certain Transfers of Qualifying Geothermal or Mineral Interests, is required by Section 403 of the Tax Relief and Health Care Act of 2006 which imposes an excise tax on certain transfers of qualifying mineral or geothermal interests.

Emergency Justfication: This form needs to be available to taxpayers who file their tax returns after January 31, 2008. The law became effective for tax years beginning after 12/20/2006. It is essential we get approval so that we can provide the taxpayer with the proper time to learn and submit this form. Failure to timely provide the taxpayers with the approved form, could create a burden on the taxpayers responsibilities to meet tax obligations.

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Authorizing Statute(s): PL: Pub.L. 109 - 432 403 Name of Law: TAX RELIEF AND HEALTH CARE ACT OF 2006
  

Citations for New Statutory Requirements: PL: Pub.L. 109 - 432 403 Name of Law: TAX RELIEF AND HEALTH CARE ACT OF 2006

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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

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Excise Tax on Certain Transfers of Qualifying Geothermal or Mineral Interests	8924	Excise Tax on Certain Transfers of Qualifying Geothermal or Mineral Interests

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ICR Summary 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	100	0	100	0	0	0
Annual Time Burden (Hours)	555	0	555	0	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement:

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Annual Cost to Federal Government: $0

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]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

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: 03/13/2008

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