View Information Collection Request (ICR) Package
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View Information Collection (IC) List
View Supporting Statement and Other Documents
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:
201311-1545-007
Status:
Historical Active
Previous ICR Reference No:
201011-1545-025
Agency/Subagency:
TREAS/IRS
Agency Tracking No:
SC-201311-1545-007
Title:
Quarterly Federal Excise Tax Return
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:
07/03/2014
Retrieve Notice of Action (NOA)
Date Received in OIRA:
02/28/2014
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
07/31/2017
36 Months From Approved
07/31/2014
Responses
405,744
0
405,744
Time Burden (Hours)
4,478,956
0
4,366,381
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. 111 - 148 4375 Name of Law: The Affordable Care Act
PL: Pub.L. 111 - 148 4376 Name of Law: The 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:
78 FR 54512
09/04/2013
30-day Notice:
Federal Register Citation:
Citation Date:
79 FR 11179
02/27/2014
Did the Agency receive public comments on this ICR?
Yes
Number of Information Collection (IC) in this ICR:
1
IC Title
Form No.
Form Name
2010 - 720 Part II
720 Part II
Quarterly Federal Excise Tax Return - Part II
2010 - 720 Part III
720 Part III
Quarterly Federal Excise Tax Return - Part III
2010 - 720 Sch A
720 - Sch. A
Quarterly Federal Excise Tax Retun - Sch A
2010 - 720 Sch. C
720 - Sch C
Quarterly Federal Excise Tax Return - Sch. C
2010 - 720 Sch. T
720 - Sch, T
Qualrterly Federal Excise Tax Return - Sch T
720-V
720-V
Payment voucher - Form 720
Form 720 Quarterly Federal Excise Tax Return
720
Quarterly Federal Excise Tax
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)
4,478,956
4,366,381
112,575
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:
Part I, (Form 720)2nd-qtr, two lines were added to report the sale price of taxable medical devices (IRS No 136), Section 4191 of the Internal Revenue Code. Also, Part II, (Form 720)2nd-qtr, 7 lines were added to provide for the reporting and payment of the Patient Centered Outcomes Research Fee (IRS No 133), Section 4375 and 4376 of the Internal Revenue Code, which resulted in an increase of 112,575 burden hours.
Annual Cost to Federal Government:
$770,186
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]?
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
Agency Contact:
P Shaughness 2029271885
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:
02/28/2014
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