Revenue Procedure 2004-19 - Probable or Prospective Reserves Safe Harbor

ICR 202004-1545-015

OMB: 1545-1861

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2020-06-24
IC Document Collections
ICR Details
1545-1861 202004-1545-015
Active 201701-1545-003
TREAS/IRS
Revenue Procedure 2004-19 - Probable or Prospective Reserves Safe Harbor
Extension without change of a currently approved collection   No
Regular
Approved without change 08/07/2020
Retrieve Notice of Action (NOA) 06/29/2020
  Inventory as of this Action Requested Previously Approved
08/31/2023 36 Months From Approved 08/31/2020
100 0 100
50 0 50
0 0 0

This revenue procedure requires a taxpayer to file an election statement with the Service if the taxpayer wants to use the safe harbor to estimate the taxpayers' oil and gas properties' probable or prospective reserves for purposes of computing cost depletion under Sec. 611 of the Internal Revenue Code.

US Code: 26 USC 611 Name of Law: Allowance of deduction for depletion
  
None

Not associated with rulemaking

  85 FR 21507 04/16/2020
85 FR 39040 06/29/2020
No

1
IC Title Form No. Form Name
Revenue Procedure 2004-19 - Probable or Prospective Reserves Safe Harbor

  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 100 100 0 0 0 0
Annual Time Burden (Hours) 50 50 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$0
No
    No
    No
No
No
No
No
Jennifer C Bernardini 202 317-6853

  No

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:
 
 
 
 
 
 
 
    (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;
 
 
 
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.
06/29/2020


© 2024 OMB.report | Privacy Policy