1545-1374
Qualified Electric Vehicle Credit
CIRCUMSTANCES NECESSITATING COLLECTION OF INFORMATION
The Alternative Fuel Motor Vehicle Credit was enacted by the Energy Policy Act of 2005 (Pub. L. 109-58) that allows taxpayers to claim a credit for certain alternative motor vehicles placed in service after December 31, 2005. Internal Revenue Code Section 30B provides for the Alternative Motor Vehicle Credit.
Section 30D provided credit for Qualified Plug-in Electric Drive Motor Vehicles. The American Recovery and Reinvestment Act of 2009 amended section 30D effective for vehicles acquired after December 31, 2009 and is now expired.
USE OF DATA
The taxpayer would complete the Form 8834 to claim any qualified electric vehicle passive activity credit allowed for the current tax year. The data is used by the IRS to determine that the credit is allowable and that it has been properly computed.
USE OF IMPROVED INFORMATION TECHNOLOGY TO REDUCE BURDEN
Electronic filing is provided for Form 8834.
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 July 15, 2014 (78 FR 61448), 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
No personally identifiable information (PII) is collected.
ESTIMATED BURDEN OF INFORMATION COLLECTION
Number of Hours per Total
Form Responses Response Hours
8834 3,136 4.79 15,022
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 July 15, 2014 (78 FR 61448), 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
Form 8834 has changed due to the expired qualified plug-in electric vehicle credit under IRC 30(f). The provision was enacted as part of the American Recovery and Reinvestment Tax Act of 2009, Pub. L. No. 111-5, through December 31, 2011 and has never been extended. Part 1 (Qualified Plug-in Electric Vehicle Credit) was removed which resulted in a burden decrease of 2,630 hours. However, the agency has updated its estimated number of responses by 2,636 (500 to 3,136), which results in an overall burden increase of 9,997 hours.
PLANS FOR TABULATION, STATISTICAL ANALYSIS AND PUBLICATION
Not applicable.
REASONS WHY DISPLAYING THE OMB EXPIRATION DATE IS INAPPROPRIATE
We believe that displaying the OMB expiration date is inappropriate because it could cause confusion by leading taxpayers to believe that the statutes/regulation sunsets as of the expiration date. Taxpayers are not likely to be aware that the Service intends to request renewal of OMB approval and obtain a new expiration date before the old one expires.
EXCEPTION TO THE CERTIFICATION STATEMENT
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 | Wolfgang, Dawn |
| File Modified | 2014-11-19 |
| File Created | 2014-11-19 |