Publication of Nonconventional Source Production Credit Reference Price for Calendar Year 2019, 22247 [2020-08355]
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Federal Register / Vol. 85, No. 77 / Tuesday, April 21, 2020 / Notices
lotter on DSKBCFDHB2PROD with NOTICES
Constitution Avenue NW, Washington,
DC 20224, or through the internet, at
RJoseph.Durbala@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Guidance on Cost Recovery
Under the Income Forecast Method.
OMB Number: 1545–1622.
Form Number: 8866.
Abstract: Taxpayers depreciating
property under the income forecast
method and placed in service after
September 13, 1995, must use Form
8866 to compute and report interest due
or to be refunded under Internal
Revenue Code 167(g)(2). The Internal
Revenue Service uses the information
on Form 8866 to determine if the
interest has been figured correctly.
Current Actions: There is no change to
the burden previously approved by
OMB. This request is being submitted
for renewal purposes only.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals or
households, and business or other forprofit organizations.
Estimated Number of Respondents:
3,300.
Estimated Time per Respondent: 13
hours, 51 min.
Estimated Total Annual Burden
Hours: 45,738.
The following paragraph applies to all
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 if 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.
VerDate Sep<11>2014
21:19 Apr 20, 2020
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Desired Focus of Comments: The
Internal Revenue Service (IRS) is
particularly interested in comments
that:
• Evaluate whether the proposed
collection of information is necessary
for the proper performance of the
functions of the agency, including
whether the information will have
practical utility;
• Evaluate the accuracy of the
agency’s estimate of the burden of the
proposed collection of information,
including the validity of the
methodology and assumptions used;
• Enhance the quality, utility, and
clarity of the information to be
collected; and
• Minimize the burden of the
collection of information on those who
are to respond, including using
appropriate automated, electronic,
mechanical, or other technological
collection techniques or other forms of
information technology, e.g., by
permitting electronic submissions of
responses.
Comments submitted in response to
this notice will be summarized and/or
included in the ICR for OMB approval
of the extension of the information
collection; they will also become a
matter of public record.
Approved: April 14, 2020.
Ronald J. Durbala,
IRS Tax Analyst.
[FR Doc. 2020–08351 Filed 4–20–20; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Publication of Nonconventional Source
Production Credit Reference Price for
Calendar Year 2019
ACTION:
Notice.
Publication of the reference
price for the nonconventional source
production credit for calendar year
2019.
SUMMARY:
FOR FURTHER INFORMATION CONTACT:
Christopher Price, CC:PSI:6, Internal
Revenue Service, 1111 Constitution
Avenue NW, Washington, DC 20224,
Telephone Number (202) 317–6853 (not
a toll-free number).
The credit
period for the nonconventional source
production credit ended on December
31, 2013 for facilities producing coke or
coke gas (other than from petroleum
based products). However, the reference
price continues to apply in determining
the amount of the enhanced oil recovery
credit under section 43 of title 26 of the
U.S.C., the marginal well production
credit under section 45I of title 26 of the
U.S.C., and the applicable percentage
under section 613A of title 26 of the
U.S.C. to be used in determining
percentage depletion in the case of oil
and natural gas produced from marginal
properties.
The reference price under section
45K(d)(2)(C) of title 26 of the U.S.C. for
calendar year 2019 applies for purposes
of sections 43, 45I, and 613A for taxable
year 2020.
Reference Price: The reference price
under section 45K(d)(2)(C) for calendar
year 2019 is $55.55.
SUPPLEMENTARY INFORMATION:
Christopher T. Kelley,
Special Counsel, Passthroughs and Special
Industries.
[FR Doc. 2020–08355 Filed 4–20–20; 8:45 am]
BILLING CODE 4830–01–P
Internal Revenue Service (IRS),
Treasury.
AGENCY:
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[Federal Register Volume 85, Number 77 (Tuesday, April 21, 2020)]
[Notices]
[Page 22247]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-08355]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Publication of Nonconventional Source Production Credit Reference
Price for Calendar Year 2019
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: Publication of the reference price for the nonconventional
source production credit for calendar year 2019.
FOR FURTHER INFORMATION CONTACT: Christopher Price, CC:PSI:6, Internal
Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224,
Telephone Number (202) 317-6853 (not a toll-free number).
SUPPLEMENTARY INFORMATION: The credit period for the nonconventional
source production credit ended on December 31, 2013 for facilities
producing coke or coke gas (other than from petroleum based products).
However, the reference price continues to apply in determining the
amount of the enhanced oil recovery credit under section 43 of title 26
of the U.S.C., the marginal well production credit under section 45I of
title 26 of the U.S.C., and the applicable percentage under section
613A of title 26 of the U.S.C. to be used in determining percentage
depletion in the case of oil and natural gas produced from marginal
properties.
The reference price under section 45K(d)(2)(C) of title 26 of the
U.S.C. for calendar year 2019 applies for purposes of sections 43, 45I,
and 613A for taxable year 2020.
Reference Price: The reference price under section 45K(d)(2)(C) for
calendar year 2019 is $55.55.
Christopher T. Kelley,
Special Counsel, Passthroughs and Special Industries.
[FR Doc. 2020-08355 Filed 4-20-20; 8:45 am]
BILLING CODE 4830-01-P
