[Federal Register Volume 89, Number 156 (Tuesday, August 13, 2024)]
[Notices]
[Page 65984]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-17940]


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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.

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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 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 [email protected]. 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 [email protected].

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