Notice2024-17940
Proposed Collection; Comment Request for Form 8904
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
August 13, 2024
Issuing agencies
Treasury DepartmentInternal Revenue Service
Abstract
The Internal Revenue Service (IRS), as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning Form 8904, Credit for Oil and Gas Production From Marginal Wells.
Full Text
<html>
<head>
<title>Federal Register, Volume 89 Issue 156 (Tuesday, August 13, 2024)</title>
</head>
<body><pre>
[Federal Register Volume 89, Number 156 (Tuesday, August 13, 2024)]
[Notices]
[Page 65984]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-17940]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Form 8904
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
-----------------------------------------------------------------------
SUMMARY: The Internal Revenue Service (IRS), as part of its continuing
effort to reduce paperwork and respondent burden, invites the general
public and other Federal agencies to take this opportunity to comment
on information collections, as required by the Paperwork Reduction Act
of 1995. The IRS is soliciting comments concerning Form 8904, Credit
for Oil and Gas Production From Marginal Wells.
DATES: Written comments should be received on or before October 15,
2024 to be assured of consideration.
ADDRESSES: Direct all written comments to Andr[eacute]s Garcia,
Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW,
Washington, DC 20224, or by email to <a href="/cdn-cgi/l/email-protection#770705165914181a1a12190304371e050459101801"><span class="__cf_email__" data-cfemail="9aeae8fbb4f9f5f7f7fff4eee9daf3e8e9b4fdf5ec">[email protected]</span></a>. Please
include, ``OMB Number: 1545-2278, Credit for Oil and Gas Production
From Marginal Wells. (Form 8904), Public Comment Request Notice'' in
the Subject line.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the revenue procedure and instructions should be directed to
LaNita Van Dyke, at (202) 317-3009, at Internal Revenue Service, Room
6526, 1111 Constitution Avenue NW, Washington, DC 20224, or through the
internet at <a href="/cdn-cgi/l/email-protection#dc90bdb2b5a8bdf28abdb298a5b7b99cb5aeaff2bbb3aa"><span class="__cf_email__" data-cfemail="18547976716c79364e79765c61737d58716a6b367f776e">[email protected]</span></a>.
SUPPLEMENTARY INFORMATION:
Title: Credit for Oil and Gas Production From Marginal Wells.
OMB Number: 1545-2278.
Form Number: 8904.
Abstract: Public Law 108-357, title III, subtitle C, section 341(a)
has caused us to develop a credit for oil and gas production from
marginal wells, which is reflected on Form 8904 and its instructions.
Tax year 2017 was the first year Form 8904 and its instructions were
released.
Current Actions: There are no changes being made to Form 8904 at
this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations,
Individuals or households, not-for-profit institutioins, farms, and
State, local or Tribal governments.
Estimated Number of Responses: 20,000.
Estimated Time per Respondent: 2 hrs., 58 mins.
Estimated Total Annual Burden Hours: 59,200.
The following paragraph applies to all of the collections of
information covered by this notice:
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless the collection of
information displays a valid OMB control number. Books or records
relating to a collection of information must be retained as long as
their contents may become material in the administration of any
internal revenue law. Generally, tax returns and tax return information
are confidential, as required by 26 U.S.C. 6103.
Request for Comments: Comments submitted in response to this notice
will be summarized and/or included in the request for OMB approval. All
comments will become a matter of public record. Comments are invited
on: (a) whether the collection of information is necessary for the
proper performance of the functions of the agency, including whether
the information shall have practical utility; (b) the accuracy of the
agency's estimate of the burden of the collection of information; (c)
ways to enhance the quality, utility, and clarity of the information to
be collected; (d) ways to minimize the burden of the collection of
information on respondents, including through the use of automated
collection techniques or other forms of information technology; and (e)
estimates of capital or start-up costs and costs of operation,
maintenance, and purchase of services to provide information.
Approved: August 7, 2024.
Andres Garcia Leon,
Supervisory Tax Analyst.
[FR Doc. 2024-17940 Filed 8-12-24; 8:45 am]
BILLING CODE 4830-01-P
</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>Indexed from Federal Register on August 13, 2024.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.