Form T is filed by individuals and corporations to report income and deductions from the operation of a timber business. The IRS uses Form T to determine if the correct amount of income and deductions are reported.
US Code:
26 USC 194
Name of Law: Treatment of reforestation expenditures
US Code:
26 USC 631
Name of Law: Gain or loss in the case of timber, coal, or domestic iron ore
US Code:
26 USC 611
Name of Law: Allowance of deduction for depletion
US Code:
26 USC 1231
Name of Law: Propety used in the trade of business and involuntary conversions
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.