CIRCUMSTANCES NECESSITATING COLLECTION OF INFORMATION
Form 8834 is used to compute an allowable credit for qualified electric vehicles. Section 1913(b) under P. L. 102-1018 created new section 30.
USE OF DATA
The data on Form 8834 will be used to determine that the credit is allowable and that it has been properly computed.
USE OF IMPROVED INFORMATION TECHNOLOGY TO REDUCE BURDEN
Electronic filing will be provided for Form 8834 by 1/2001 for Form 1040 returns and by 1/2003 for Form 1120 returns.
EFFORTS TO IDENTIFY DUPLICATION
We have attempted to eliminate duplication within the agency wherever possible.
METHODS TO MINIMIZE BURDEN ON SMALL BUSINESSES OR OTHER SMALL ENTITIES
Not applicable.
CONSEQUENCES OF LESS FREQUENT COLLECTION ON FEDERAL PROGRAMS OR POLICY ACTIVITIES
Not applicable
SPECIAL CIRCUMSTANCES REQUIRING DATA COLLECTION TO BE INCONSISTENT WITH GUIDELINES IN 5 CFR.1320.5 (d) (2)
Not applicable.
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 8834.
In response to the Federal Register Notice dated March 6, 2008 (73 FR 12253), we received no comments during the comment period regarding Form 8834.
EXPLANATION OF DECISION TO PROVIDE ANY PAYMENT OR GIFT TO RESPONDENTS
Not applicable.
ASSURANCE OF CONFIDENTIALITY OF RESPONSES
Generally, tax returns and tax information are confidential as required by 26 USC 6103.
JUSTIFICATION OF SENSITIVE QUESTIONS
Not applicable.
ESTIMATED BURDEN OF INFORMATION COLLECTION
Number of Hours per Total
Form Responses Response Hours
8834 500 4.70 8,060
Estimates of annualized cost to respondents for the hour burdens shown are not available at this time.
ESTIMATED TOTAL ANNUAL COST BURDEN TO RESPONDENTS
As suggested by OMB, our Federal Register Notice dated March 6, 2008 (73 FR 12253), requested public comments on estimates of cost burden that are not captured in the estimates of burden hours, i.e., estimates of capital or start-up costs and costs of operation, maintenance and purchase of services to provide information. However, we did not receive any responses from taxpayers on this subject. As a result, estimates of these cost burdens are not available at this time.
ESTIMATED ANNUAL COST TO THE FEDERAL GOVERNMENT
The primary cost to the government consists of the cost of printing this form. We estimate that the cost of printing Form 8834 and accompanying instructions is $302.
REASONS FOR CHANGE IN BURDEN
The changes for Form 8834 (Rev. May 2009) are to comply with P.L. 111-5, sec. 1142, which amended IRC sec. 30 to allow a credit for certain plug-in electric vehicles acquired after February 17, 2009.
It will allow tax year 2008 filers with a fiscal year that ends after February 17, 2009, to claim the new qualified plug-in electric vehicle credit if they acquired a qualified vehicle after February 17, 2009. It is anticipated that there are very few such qualifying fiscal filers, perhaps none at all.
The Form 8834 is now comprised of 2 "credits" - (1) the new qualified plug-in electric vehicle credit and (2) the passive activity qualified electric vehicle credits from prior years.
47 line items were added. This increases the overall net burden by 5,710 hours. There is no change in the paperwork burden previously approved by OMB. We are making this submission to renew the OMB approval.
PLANS FOR TABULATION, STATISTICAL ANALYSIS AND PUBLICATION
Not applicable.
REASONS WHY DISPLAYING THE OMB EXPIRATION DATE IS INAPPROPRIATE
See attachment.
EXCEPTION TO THE CERTIFICATION STATEMENT ON OMB FORM 83-I
Not applicable
Note: The following paragraph applies to all 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.
| File Type | application/msword |
| Author | 5pqgb |
| Last Modified By | J11FB |
| File Modified | 2009-05-07 |
| File Created | 2009-05-07 |