Form 8933, Carbon Dioxide Sequestration Credit.

Forms and Documents

Document Name	Status
Form 8933 Form 8933, Carbon Dioxide Sequestration Credit Form and Instruction	New
Emergency Justification Memorandum - F8933.pdf Justification for No Material/Nonsubstantive Change	2008-12-24
Expiration Explanation.rtf Supplementary Document	2008-12-22
Supporting Statement for Form 8933.pdf Supporting Statement A	2008-12-24

IC Document Collections

IC ID	Document Title	Status
187644	Form 8933, Carbon Dioxide Sequestration Credit Form and Instruction	New

ICR Details

OMB Control No: 1545-2132	ICR Reference No: 200812-1545-023
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: TREAS/IRS	Agency Tracking No: Need approval by 1/21/09
Title: Form 8933, Carbon Dioxide Sequestration Credit.
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 01/21/2009
OIRA Conclusion Action: Approved without change	Conclusion Date: 01/08/2009
	Date Received in OIRA: 12/30/2008
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2009	6 Months From Approved
Responses	100	0	0
Time Burden (Hours)	215	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: Form 8933 will provide a standardized format to claim this credit to an eligible person that captures, after October 3, 2008, qualified carbon dioxide at a qualified facility and physically or contractually ensures the disposal of or the use as a tertiary injectant of the qualified carbon dioxide.

Emergency Justfication: P.L. 110-343 (Div B) section 115 added Code section 45Q. Form 8933 is based on IRC 45Q. Current version of the form and instructions were finalized this week. If not available by 01/09/2009, taxpayers will not be have the ability to file their tax returns until April 2009. Thus, denying the taxpayer a timely refund they are entitled to and adding the additional taxpayer burden of having to file an amended return to claim the credit on their tax return. This credit is a general business credit and is required to be attached to their return.

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Authorizing Statute(s): US Code: 26 USC 45Q Name of Law: Credits against tax.
  

Citations for New Statutory Requirements: PL: Pub.L. 110 - 343 (Div B) section 115 Name of Law: Emergency Economic Stabilization Act of 2008

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Form 8933, Carbon Dioxide Sequestration Credit	8933	Carbon Dioxide Sequestration Credit

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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	100	0	100	0	0	0
Annual Time Burden (Hours)	215	0	215	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: This is a new form. P.L. 110-343 (Div B) section 115 added Code section 45Q

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Annual Cost to Federal Government: $7,550

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]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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: 12/30/2008

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