Form 8924 - Excise Tax On Certain Transfers Of Qualifying Geothermal Or Mineral Interests Page 2

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Form 8924 (Rev. 12-2013)
Rounding Off to Whole Dollars
Paid Preparer Use Only
Environmental Impact Statement and that is
located from T. 31 N. to T. 16 N. and R. 13 W.
You may show money items on the return as
A paid preparer must sign Form 8924 and
to R. 7 W.; and
whole dollars. To do so, drop any amount less
provide the information in the Paid Preparer Use
than 50 cents and increase any amount from 50
• Within the Badger Two Medicine Area of the
Only section at the end of the form if the preparer
cents through 99 cents to the next higher dollar.
Flathead National Forest including the land
was paid to prepare the form and is not an
located in T. 29 N. from the western edge of R.
employee of the filing entity. The preparer must
16 W. to the eastern edge of R. 13 W., and the
give you a copy of the form in addition to the
See the instructions for the signature section of
land located in T. 28 N., Rs. 13, and 14 W.
copy to be filed with the IRS.
your federal income tax return.
Qualifying letter of intent. A qualifying letter of
If you are a paid preparer, enter your Preparer
Interest and Penalties
intent means a written letter of intent that
Tax Identification Number (PTIN) in the space
includes the following statement.
provided. If you work for a tax preparation firm,
Interest. Interest is charged on taxes not paid
you must also enter the firm's name, address,
“The transferee’s intent is that this acquisition
by the due date at a rate determined under
and EIN. However, you cannot use the PTIN of
section 6621.
will serve one or more of the conservation
the tax preparation firm in place of your PTIN.
purposes specified in clause (i), (ii), or (iii) of
Late filing of return. A penalty of 5% a month
You can apply for a PTIN online or by filing
section 170(h)(4)(A) of the Internal Revenue
or part of a month, up to a maximum of 25%, is
Form W-12, IRS Paid Preparer Tax Identification
Code of 1986, that the transferee’s use of the
imposed on the net amount due if Form 8924 is
Number (PTIN) Application and Renewal. For
deposits so acquired will be consistent with
not filed when due.
more information about applying for a PTIN
section 170(h)(5) of such Code, and that the use
Late payment of tax. Generally, the penalty for
online, visit the IRS website at
of the deposits will continue to be consistent
not paying tax when due is 1/2 of 1% of the
with such section, even if ownership or
unpaid amount, up to a maximum of 25%, for
possession of such deposits is subsequently
Paperwork Reduction Act Notice. We ask for
each month or part of a month the tax remains
transferred to another person.”
the information on this form to carry out the
unpaid. The penalty is imposed on the net
Qualifying mineral or geothermal interest. A
Internal Revenue laws of the United States. You
amount due.
qualifying mineral or geothermal interest means
are required to give us the information. We need
an interest in any mineral or geothermal deposit
it to ensure that you are complying with these
located on eligible federal land that constitutes
laws and to allow us to figure and collect the
Bureau of Land Management land. This term
the transferor’s entire interest in the deposit.
right amount of tax. Section 6109 requires return
means the Bureau of Land Management land
preparers to provide their identifying numbers on
and any federally-owned minerals located south
An interest in any mineral or geothermal is not
the return.
of the Blackfeet Indian Reservation and east of
the transferor’s entire interest if the interest in
that mineral or geothermal deposit was divided in
You are not required to provide the
the Lewis and Clark National Forest to the
order to avoid the requirements of a qualifying
information requested on a form that is subject
eastern edge of R. 8 W., beginning in T. 29 N.
mineral or geothermal interest or section 170(f)(3)
to the Paperwork Reduction Act unless the form
down to and including T. 19 N. and all of T. 18
displays a valid OMB control number. Books or
N., R. 7 W.
records relating to a form or its instructions must
Conservation sale. A conservation sale means
The transferor’s entire interest in such deposit
be retained as long as their contents may
does not fail to be a qualifying mineral or
a sale which meets the following requirements.
become material in the administration of any
geothermal interest solely because the transferor
• The transferee of the qualifying mineral or
Internal Revenue law. Generally, tax returns and
has retained an interest in other deposits, even if
geothermal interest is an eligible entity.
return information are confidential, as required
the other deposits are contiguous with such
by section 6103.
• At the time of the sale, the transferee provides
certain deposit and were acquired by the
the transferor with a qualifying letter of intent.
transferor along with such certain deposit in a
The time needed to complete and file this form
single conveyance.
will vary depending on individual circumstances.
• The sale is not made under an order of
The estimated average time is:
condemnation or eminent domain.
Specific Instructions
Recordkeeping .
4 hr., 4 min.
Eligible entity. An eligible entity means:
Name and address. Enter the name shown on
Learning about the law
• A governmental unit referred to in section
the eligible entity’s most recently filed federal
or the form .
. 42 min.
170(c)(1) or an agency or department thereof
income tax return. If the Post Office does not
operated primarily for one or more of the
Preparing, copying, assembling, and
deliver mail to the street address and the entity
conservation purposes specified in section170(h)
sending the form to the IRS .
. 47 min.
has a P.O. box, show the box number instead of
(4)(A)(i), (ii), or (iii), or
If you have comments concerning the
the street address.
• An entity that is described in section 170(b)(1)
accuracy of these time estimates or suggestions
Foreign Address. Follow the country's practice
(A)(vi) or section 170(h)(3)(B) and organized and
for making this form simpler, we would be happy
for entering the postal code. In some countries
at all times operated primarily for one or more of
to hear from you. You can send your comments
the postal code may come before the city or
the conservation purposes specified in section
from Click on “More
town name. Enter the full name of the country
170(h)(4)(A)(i), (ii), or (iii).
Information” and then on “Comment on Tax
using uppercase letters in English.
Forms and Publications.” You can also write to:
Eligible federal land. The term eligible federal
Tax Computation
land means the Bureau of Land Management
Internal Revenue Service
Line 10
land and the Forest Service land, as generally
Tax Forms and Publications
depicted on the map entitled “Rocky Mountain
1111 Constitution Ave. NW, IR-6526
The tax due must be paid in full when Form
Front Mineral Withdrawal Area” and dated
Washington, DC 20224
8924 is filed. Make the check or money order
January 8, 2007. You can view an electronic
payable to “United States Treasury.” Write the
DO NOT send the tax form to this address.
version of the map at
entity’s name, address, employer identification
Instead, see Where To File, earlier.
number, and “Form 8924” on the check or
Forest Service land. This term means the
money order.
Forest Service land and any federally-owned
Line 11
minerals located:
The IRS will refund the amount on line 11 if no
• In the Rocky Mountain Division of the Lewis
other taxes are owed.
and Clark National Forest, including the
approximately 356,111 acres of land made
unavailable for leasing by the August 28, 1997,
Record of Decision for the Lewis and Clark
National Forest Oil and Gas Leasing


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