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