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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:
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
Retrieve Notice of Action (NOA)
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
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 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
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:
7
IC Title
Form No.
Form Name
2010 Draft - 720 Part I
720 Part I
Quarterly Federal Excise Tax Return - Part I
2010 Draft - 720 Part III
720 Part III
Quarterly Federal Excise Tax Return - Part III
2010 Draft - 720 Sch A
720 - Sch. A
Quarterly Federal Excise Tax Retun - Sch A
2010 Draft - 720 Sch. C
720 - Sch C
Quarterly Federal Excise Tax Return - Sch. C
2010 Draft - 720 Sch. T
720 - Sch, T
Qualrterly Federal Excise Tax Return - Sch T
2010 Draft- 720 Part II
720 Part II
Quarterly Federal Excise Tax Return - Part II
720-V
720-V
Payment voucher - Form 720
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
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.
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
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:
08/10/2010
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