[Federal Register Volume 76, Number 38 (Friday, February 25, 2011)]
[Notices]
[Page 10670]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-4199]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 720-CF

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Department of the Treasury, 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 proposed and/or continuing information collections, as required by 
the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning 
Form 720-CF, Certain Fuel Products Report.

DATES: Written comments should be received on or before April 26, 2011 
to be assured of consideration.

ADDRESSES: Direct all written comments to Yvette Lawrence, Internal 
Revenue Service, room 6129, 1111 Constitution Avenue, NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the form and instructions should be directed to R. Joseph 
Durbala, (202) 622-3634, at Internal Revenue Service, room 6129, 1111 
Constitution Avenue, NW., Washington, DC 20224, or through the Internet 
at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Certain Fuel Products Report.
    OMB Number: 1545-XXXX.
    Form Number: Form 720-CF.
    Abstract: Internal Revenue Code Sec.  4101 requires information 
reporting by (1) any person registered under IRC Sec.  4101 rules with 
respect to fuel excise taxes, and (2) any other persons that IRS deems 
necessary to administer the applicable fuel taxes. The American Jobs 
Creation Act of 2004 created Volumetric Ethanol Excise Tax Credit 
(VEETC), a policy to subsidize the production of ethanol in the United 
States. Currently producers, resellers, blenders and importers have no 
reporting requirements other than to apply for the 637 registration and 
claim the Biodiesel and Renewable Diesel Fuels Credits ranging from .50 
to 1.00 credit per each gallon sold or used. This new form will provide 
the Internal Revenue Service the information it needs to properly track 
the movement of fuel between these entities and the terminal operators 
and carrier operators that are currently filing forms 720-TO/CS.
    Current Actions: This form is being submitted for new OMB approval.
    Type of Review: New collection.
    Affected Public: Businesses and other for-profit organizations.
    Estimated Number of Respondents: 39,240.
    Estimated Time Per Respondent: 13 hours 13 minutes.
    Estimated Total Annual Burden Hours: 518,361.
    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: February 15, 2011.
Yvette Lawrence,
IRS Reports Clearance Officer.
[FR Doc. 2011-4199 Filed 2-24-11; 8:45 am]
BILLING CODE 4830-01-P