Supporting Statement for Form 8933

SUPPORTING STATEMENT
1. CIRCUMSTANCES NECESSITATING COLLECTION OF INFORMATION
Form 8933, Carbon Dioxide Sequestration Credit, was developed to carry out the provisions of new Code section 45Q.
This new section was added by section 115 (Division B) of the Emergency Economic Stabilization Act of 2008 (Public
Law 110-343). This credit is available for qualified carbon dioxide captured after October 3, 2008, at a qualified facility
and disposed of in secure geological storage or used as a tertiary injectant in a qualified enhanced oil or natural gas
recovery project.

2. USE OF DATA
Form 8933 will provide a standardized format to claim this credit to an eligible person that captures, after October 3,
2008, qualified carbon dioxide at a qualified facility and physically or contractually ensures the disposal of or the use as
a tertiary injectant of the qualified carbon dioxide.

3. USE OF IMPROVED INFORMATION TECHNOLOGY TO REDUCE BURDEN
We have no plans at this time to offer electronic filing because of the low volume compared to the cost of electronic
enabling.

4. EFFORTS TO IDENTIFY DUPLICATION
We have attempted to eliminate duplication within the agency wherever possible.

5. METHODS TO MINIMIZE BURDEN ON SMALL BUSINESSES OR OTHER SMALL ENTITIES
Not applicable.

6. CONSEQUENCES OF LESS FREQUENT COLLECTION ON FEDERAL PROGRAMS OR
POLICY ACTIVITIES
Not applicable.

7. SPECIAL CIRCUMSTANCES REQUIRING DATA COLLECTION TO BE INCONSISTENT
WITH GUIDELINES IN 5 CFR 1320.5(d)(2)
Not applicable.

8. CONSULTATION WITH INDIVIDUALS OUTSIDE OF THE AGENCY ON AVAILABILITY
OF DATA, FREQUENCY OF COLLECTION, CLARITY OF INSTRUCTIONS AND FORMS,
AND DATA ELEMENTS
Periodic meetings are held between IRS personnel and representatives of the American Bar Association, the National
Society of Public Accountants, the American Institute of Certified Public Accountants, and other professional groups to
discuss tax law and tax forms. During these meetings, there is an opportunity for those attending to make comments
regarding Form 8933.
We will publish a notice in the Federal Register in the near future to solicit public comments on Form 8933.

9. EXPLANATION OF DECISION TO PROVIDE ANY PAYMENT OR GIFT TO RESPONDENTS
Not applicable.

10. ASSURANCE OF CONFIDENTIALITY OF RESPONSES
Generally, tax returns and tax return information are confidential as required by 26 U.S.C. 6103.

11. JUSTIFICATION OF SENSITIVE QUESTIONS
Not applicable.

12. ESTIMATED BURDEN OF INFORMATION COLLECTION
List the number of responses, time per response, and total burden for each form included in the submission.
Number of
Time per
Total
Form
Responses
Response
Hours
8933
100
2.15
215
Estimates of the annualized cost to respondents for the hour burdens shown are not available at this time.

13. ESTIMATED TOTAL ANNUAL COST BURDEN TO RESPONDENTS
Estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide
information are not available at this time

14. ESTIMATED ANNUALIZED COST TO THE FEDERAL GOVERNMENT
After consultation with various functions within the Service, we have determined that the cost of developing,
printing, processing, distribution and overhead for the form is $7,550.

15. REASONS FOR CHANGE IN BURDEN
This is a new form. Burden estimates have been computed using the ADL Methodology based on projected estimates
of users.

16. PLANS FOR TABULATION, STATISTICAL ANALYSIS AND PUBLICATION
Not determined at this this time.

17. REASONS WHY DISPLAYING THE OMB EXPIRATION DATE IS INAPPROPRIATE
Not appliable.

18. EXCEPTIONS TO THE CERTIFICATION STATEMENT ON OMB PRA SUBMISSION FORM
Not applicable.
Note: The following paragraph applies to all of the collections of information in this submission:
An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless
the collection of information displays a valid OMB control number. Books or records relating to a collection of
information must be retained as long as their contents may become material in the administration of any internal
revenue law. Generally, tax returns and tax return information are confidential, as required by 26 U.S.C. 6103.

19. REASON FOR EMERGENCY SUBMISSION
P.L. 110-343 (Div B) section 115 added Code section 45Q. Form 8933 is based on IRC 45Q. Current version of the
form and instructions were finalized this week. If not available by 01/09/2009, taxpayers will not be have the ability to
file their tax returns until April 2009. Thus, denying the taxpayer a timely refund they are entitled to and adding the
additional taxpayer burden of having to file an amended return to claim the credit on their tax return. This credit is a
general business credit and is required to be attached to their return.