IRS Form 928 for Fuel Bonds: Comment or Snooze
Published Date: 3/31/2025
Notice
Summary
The IRS is asking businesses that deal with taxable fuel to comment on Form 928, which is used to secure a federal bond for registration. This helps keep paperwork manageable and ensures the process runs smoothly. Comments are due by May 30, 2025, and about 500 businesses spend roughly 2.5 hours each on this form annually.
Analyzed Economic Effects
2 provisions identified: 0 benefits, 2 costs, 0 mixed.
Federal bond required for taxable-fuel registration
If you apply to register for taxable fuel and you do not meet all the registration tests for Form 637, you must secure a federal bond using Form 928 before you can receive Form 637 registration. The bond must be from an acceptable surety or reinsurer listed in Treasury Department Circular 570 and is required under Internal Revenue Code section 4101(b).
Form 928 paperwork time burden
About 500 businesses spend an estimated 2.56 hours each year completing Form 928, for a total annual burden of 1,280 hours. The IRS is requesting public comments on this information collection and will accept comments through May 30, 2025.
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