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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
1545-0023
ICR Reference No:
200803-1545-001
Status:
Historical Active
Previous ICR Reference No:
200707-1545-016
Agency/Subagency:
TREAS/IRS
Agency Tracking No:
CB-0023-001
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:
03/12/2008
Retrieve Notice of Action (NOA)
Date Received in OIRA:
03/11/2008
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
387,744
Time Burden (Hours)
4,354,623
0
3,576,704
Cost Burden (Dollars)
0
0
0
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.
Authorizing Statute(s):
US Code:
26 USC 4081
Name of Law: Imposition of tax
US Code:
26 USC 6103
Name of Law: Confidentiality and disclosure of returns and returns information
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
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
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
Number of Information Collection (IC) in this ICR:
1
IC Title
Form No.
Form Name
Quarterly Federal Excise Tax Return
Form 720
Quarterly Federal Excise Tax Return
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
387,744
1,800
16,200
0
0
Annual Time Burden (Hours)
4,354,623
3,576,704
584,779
193,140
0
0
Annual Cost Burden (Dollars)
0
0
0
0
0
0
Burden increases because of Program Change due to Agency Discretion:
Yes
Burden Increase Due to:
Changing Regulations
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
The major changes shown in the "Supplementary Documents" resulted in a revision of Form 720 and its instructions. 6 code references and 44 line items were added, causing a program change of +777,919 which resulted in an overall increase of burden hours to 4,354,623. Changes were made to the total number of estimated responses to be more reflective of projected users of the form based on agency discretion.
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]?
Uncollected
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)?
Uncollected
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Michael Ecker 202 622-3144
Common Form ICR:
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:
(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:
03/11/2008
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