PROOF OF WORTHLESSNESS OF MINERAL RIGHTS OR GEOTHERMAL DEPOSITS

ICR 198108-1545-125

OMB: 1545-0027

Federal Form Document

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Document
Name
Status
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ICR Details
1545-0027 198108-1545-125
Historical Active 198104-1545-027
TREAS/IRS
PROOF OF WORTHLESSNESS OF MINERAL RIGHTS OR GEOTHERMAL DEPOSITS
Revision of a currently approved collection   No
Regular
Approved without change 10/04/1981
Retrieve Notice of Action (NOA) 08/25/1981
This form is approved through February 1982. When submitting request for extension please justify data elements in terms of use and statutory requirements. Also, indicate which items are computerized and which are not. Explain how noncomputerized elements are used. In addition, please estimate the number of these forms audited or reviewed for audit in the last three years and the total number from which they were selected. What would be the consequence of not getting the detail requirements, exceot for those selected for potential audit?
  Inventory as of this Action Requested Previously Approved
02/28/1983 02/28/1983 12/31/1981
500 0 362,000
500 0 268,000
0 0 0

IRC SECTION 611 ALLOWS A DEDUCTION FOR WORTHLESSNESS OF MINERAL RIGHTS AND/OR GEOTHERMAL DEPOSITS. FORM 927 IS USED TO CLAIM THIS DEDUCTION. THE INFORMATION OBTAINED IS NECESSARY TO PROVE WORTHLESSNESS AND TO DETERMINE THE VALIDITY OF THE CLAIMED DEDUCTION.

None
None


No

1
IC Title Form No. Form Name
PROOF OF WORTHLESSNESS OF MINERAL RIGHTS OR GEOTHERMAL DEPOSITS 927

  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 500 362,000 0 0 -361,500 0
Annual Time Burden (Hours) 500 268,000 0 0 -267,500 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$0
No
No
Uncollected
Uncollected
Uncollected
Uncollected

  No

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:
 
 
 
 
 
 
 
    (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;
 
 
 
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.
08/25/1981


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