View Information Collection Request (ICR) Package
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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:
1545-2132
ICR Reference No:
200812-1545-023
Status:
Historical Active
Previous ICR Reference No:
Agency/Subagency:
TREAS/IRS
Agency Tracking No:
Need approval by 1/21/09
Title:
Form 8933, Carbon Dioxide Sequestration Credit.
Type of Information Collection:
New collection (Request for a new OMB Control Number)
Common Form ICR:
No
Type of Review Request:
Emergency
Approval Requested By:
01/21/2009
OIRA Conclusion Action:
Approved without change
Conclusion Date:
01/08/2009
Retrieve Notice of Action (NOA)
Date Received in OIRA:
12/30/2008
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
07/31/2009
6 Months From Approved
Responses
100
0
0
Time Burden (Hours)
215
0
0
Cost Burden (Dollars)
0
0
0
Abstract:
Form 8933 will provide a standardized format to claim this credit to an eligible person that captures, after October 3, 2008, qualified carbon dioxide at a qualified facility and physically or contractually ensures the disposal of or the use as a tertiary injectant of the qualified carbon dioxide.
Emergency Justfication:
P.L. 110-343 (Div B) section 115 added Code section 45Q. Form 8933 is based on IRC 45Q. Current version of the form and instructions were finalized this week. If not available by 01/09/2009, taxpayers will not be have the ability to file their tax returns until April 2009. Thus, denying the taxpayer a timely refund they are entitled to and adding the additional taxpayer burden of having to file an amended return to claim the credit on their tax return. This credit is a general business credit and is required to be attached to their return.
Authorizing Statute(s):
US Code:
26 USC 45Q
Name of Law: Credits against tax.
Citations for New Statutory Requirements:
PL: Pub.L. 110 - 343 (Div B) section 115 Name of Law: Emergency Economic Stabilization Act of 2008
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
Federal Register Notices & Comments
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
Form 8933, Carbon Dioxide Sequestration Credit
8933
Carbon Dioxide Sequestration Credit
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
100
0
100
0
0
0
Annual Time Burden (Hours)
215
0
215
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:
This is a new form. P.L. 110-343 (Div B) section 115 added Code section 45Q
Annual Cost to Federal Government:
$7,550
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:
Emile Beausejour 2026228003
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:
12/30/2008
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