[Federal Register Volume 85, Number 224 (Thursday, November 19, 2020)]
[Notices]
[Pages 73844-73845]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-25537]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 8924

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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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 proposed and/or continuing information collections, as required by 
the Paperwork Reduction Act of 1995. The IRS is soliciting comments 
concerning the excise tax on certain transfers of qualifying geothermal 
or mineral interests.

DATES: Written comments should be received on or before January 19, 
2021 to be assured of consideration.

ADDRESSES: Direct all written comments to Kinna Brewington, Internal 
Revenue Service, room 6526, 1111 Constitution Avenue NW, Washington, DC 
20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the regulation should be directed to LaNita Van Dyke, at 
(202) 317-6009, Room 6526, 1111 Constitution Avenue NW, Washington, DC 
20224, or through the internet at [email protected].

SUPPLEMENTARY INFORMATION:
    Title: Excise Tax on Certain Transfers of Qualifying Geothermal or 
Mineral Interests.
    OMB Number: 1545-2099.
    Form Number: Form 8924.
    Abstract: Form 8924, Excise Tax on Certain Transfers of Qualifying 
Geothermal or Mineral Interests, is required by Section 403 of the Tax 
Relief and Health Care Act of 2006 which imposes an excise tax on 
certain transfers of qualifying mineral or geothermal interests.
    Current Actions: There is no change in the paperwork burden 
previously approved by OMB.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses or other for-profit organizations.
    Estimated Number of Respondents: 20.
    Estimated Time per Respondent: 5 hours, 33 minutes.
    Estimated Total Annual Burden Hours: 111.
    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

[[Page 73845]]

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: November 13, 2020.
Chakinna B. Clemons,
Supervisory Tax Analyst.
[FR Doc. 2020-25537 Filed 11-18-20; 8:45 am]
BILLING CODE 4830-01-P