Quarterly Federal Excise Tax Return

Forms and Documents

Document Name	Status
Form Form 720 Quarterly Federal Excise Tax Return Form	Removed
Form 720 - Sch, T 2010 Draft - 720 Sch. T Form	New
Form 720 - Sch C 2010 Draft - 720 Sch. C Form	New
Form 720 - Sch. A 2010 Draft - 720 Sch A Form	New
Form 720-V 720-V Form and Instruction	New
Form 720 Part III 2010 Draft - 720 Part III Form	New
Form 720 Part II 2010 Draft- 720 Part II Form	New
Form 720 Part I 2010 Draft - 720 Part I Form	New
720.Sup[1].docx Supporting Statement A	2010-08-10
2010 changes.pdf Justification for No Material/Nonsubstantive Change	2010-08-10
Expiration Explanation.rtf Supplementary Document	2010-08-10

IC Document Collections

IC ID	Document Title	Status
39361	Quarterly Federal Excise Tax Return Form	Removed
194190	2010 Draft - 720 Sch. T Form	New
194188	2010 Draft - 720 Sch. C Form	New
194186	2010 Draft - 720 Sch A Form	New
194185	720-V Form and Instruction	New
194184	2010 Draft - 720 Part III Form	New
194181	2010 Draft- 720 Part II Form	New
194180	2010 Draft - 720 Part I Form	New

ICR Details

OMB Control No: 1545-0023	ICR Reference No: 201008-1545-018
Status: Historical Active	Previous ICR Reference No: 200803-1545-001
Agency/Subagency: TREAS/IRS	Agency Tracking No: ah-0023-018
Title: Quarterly Federal Excise Tax Return
Type of Information Collection: No material or nonsubstantive change to a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 08/12/2010
	Date Received in OIRA: 08/10/2010
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2010	12/31/2010	12/31/2010
Responses	405,744	0	405,744
Time Burden (Hours)	4,366,381	0	4,354,623
Cost Burden (Dollars)	0	0	0

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Abstract: The information supplied on Form 720 is used by the IRS to determine the correct tax liability. Additionally, the data is reported by the IRS to Treasury so that funds may be transferred from the general revenue funds to the appropriate trust funds.

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Authorizing Statute(s): US Code: 26 USC 6103 Name of Law: Confidentiality and disclosure of returns and returns information
   US Code: 26 USC 4081 Name of Law: Imposition of tax
  

Citations for New Statutory Requirements: PL: Pub.L. 110 - 190 1, ... Name of Law: Airport and Airway Extension Act of 2008
PL: Pub.L. 110 - 172 5(a)(2), 6(d)(2), ... Name of Law: Tax Technical Corrections Act of 2007
PL: Pub.L. 110 - 28 8246 Name of Law: Small Business and Work Opportunity Tax Act of 2007
PL: Pub.L. 111 - 148 10907 Name of Law: Affordable Care Act
PL: Pub.L. 111 - 148 5000B Name of Law: Affordable Care Act

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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
60-day Notice:	Federal Register Citation:	Citation Date:
	72 FR 26684	05/10/2007
30-day Notice:	Federal Register Citation:	Citation Date:
	72 FR 55272	09/28/2007
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 7

IC Title	Form No.	Form Name
2010 Draft - 720 Sch A	720 - Sch. A	Quarterly Federal Excise Tax Retun - Sch A
2010 Draft - 720 Part III	720 Part III	Quarterly Federal Excise Tax Return - Part III
2010 Draft- 720 Part II	720 Part II	Quarterly Federal Excise Tax Return - Part II
2010 Draft - 720 Sch. T	720 - Sch, T	Qualrterly Federal Excise Tax Return - Sch T
Quarterly Federal Excise Tax Return	Form 720	Quarterly Federal Excise Tax Return
2010 Draft - 720 Part I	720 Part I	Quarterly Federal Excise Tax Return - Part I
2010 Draft - 720 Sch. C	720 - Sch C	Quarterly Federal Excise Tax Return - Sch. C
720-V	720-V	Payment voucher - Form 720

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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	405,744	405,744	0	0	0	0
Annual Time Burden (Hours)	4,366,381	4,354,623	11,758	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: Summary of Changes 1. Indoor Tanning Services (Change for Rev. July 2010) added: For page 2- The Patient Protection and Affordable Care Act of 2010 (P.L. 111-148), sec. 10907, creates new IRC chap. 49 (Cosmetic Services) and sec. 5000B, which imposes a 10% excise tax on the amount paid for indoor tanning services. Prior to this revision, the tax was not reflected on Form 720. Page 2, Part II was changed to add line for IRS No. 140 for the filer to report 10% of the amount paid. 2. Line 6h added, credit for use of “Liquefied gas from biomass” (Change for Rev. October 2008): Section 204(b) of the Energy Improvement and Extension Act of 2008, which is in Division B of the Financial Rescue bill (P.L. 110-343), codifies liquefied gas from biomass as one of two new alternative fuels under IRC 6426. This provision is effective after date of enactment (October 3, 2008). Liquefied gas derived from biomass is taxable under sections 4041(a)(2) at $.183. The credit for nontaxable use of liquefied gas derived from biomass will be claimed on Schedule C on new line 6h at $.183 per gallon under credit reference number (CRN) 435. 3. Lines 14h and 14i added, credits for use of “Liquefied gas derived from biomass” and “Compressed gas derived from biomass” (Change for Rev. October 2008): Under Section 204(b) of the Energy Improvement and Extension Act of 2008 (cited above) credits are available for mixtures of taxable and alternative fuel, claimed on new lines 14h and 14i on Schedule C at the rate of $.50 per gallon or gallon equivalent. 4. Lines 15f, 15g, and 15h added, credits applicable for tax-paid tires (Change for Rev. January 2009): Previously, these CRNs appeared only in the Instructions for Form 720. The form was changed to also add a “Number of tires” column. This change was made at the request of SE:W:CAS:SP and ETA to capture the number of taxable tires claimed for CRNs 396, 304, and 305. These changes have resulted in a net increase of 11,758 burden hours.

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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]? Yes

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)? No

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: 08/10/2010

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