Enhanced Oil Recovery Credit

Forms and Documents

Document Name	Status
Form 8830 Form 8830 - Enhanced Oil Recovery Credit Form and Instruction	New
2017-11-14 SS 1545-1292r.docx Supporting Statement A	2017-11-28

IC Document Collections

IC ID	Document Title	Status
226812	Form 8830 - Enhanced Oil Recovery Credit Form and Instruction	New
18080	26 CFR 1.43-3 - Certification	Modified

ICR Details

OMB Control No: 1545-1292	ICR Reference No: 201705-1545-020
Status: Active	Previous ICR Reference No: 201309-1545-090
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Enhanced Oil Recovery Credit
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 12/18/2017
	Date Received in OIRA: 06/30/2017
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2020	36 Months From Approved	12/31/2017
Responses	1,590	0	40
Time Burden (Hours)	12,527	0	1,460
Cost Burden (Dollars)	0	0	0

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Abstract: This regulation provides guidance concerning the costs subject to the enhanced oil recovery credit, the circumstances under which the credit is available, and procedures for certifying to the Internal Revenue Service that a project meets the requirements of section 43(c) of the Internal Revenue Code.

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Authorizing Statute(s): US Code: 26 USC 43 Name of Law: Enhanced oil recovery credit
  

Citations for New Statutory Requirements: None

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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:
	82 FR 10539	02/13/2017
30-day Notice:	Federal Register Citation:	Citation Date:
	82 FR 29999	06/30/2017
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
26 CFR 1.43-3 - Certification
Form 8830 - Enhanced Oil Recovery Credit	8830	Enhanced Oil Recovery Credit

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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	1,590	40	0	0	1,550	0
Annual Time Burden (Hours)	12,527	1,460	0	0	11,067	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: Form 8830 was not issued for 2006-2015 because it did not apply for tax years beginning in those years due to the continued high price of crude oil; however it will apply again for tax years beginning in 2016. Since oil prices remain low, it's most likely that the credit will apply for tax years beginning in 2017. The changes were made to reflect Notice 2016-44. This will increase the number of responses by 1,550 and annual burden by 11,067 hours.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     Yes

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

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: 06/30/2017

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