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OMB Control No: 1545-2202	ICR Reference No: 201012-1545-006
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: TREAS/IRS	Agency Tracking No: Requesting approval by December 17, 2010
Title: Form 5884-B - New Hire Retention Credit
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR: No
Type of Review Request: Emergency	Approval Requested By: 12/17/2010
OIRA Conclusion Action: Approved without change	Conclusion Date: 12/17/2010
	Date Received in OIRA: 12/08/2010
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	06/30/2011	6 Months From Approved
Responses	1,125,000	0	0
Time Burden (Hours)	13,815,000	0	0
Cost Burden (Dollars)	0	0	0

Abstract: Form 5884-B, New Hire Retention Credit, was developed to carry out the provisions of section 102 of the Hiring Incentives to Restore Employment (HIRE) Act (Public Law (P.L.) 111-147). The new form provides a means for employers to calculate and claim the credit. This credit is a new non-Code general business credit and the form is required to be attached to the tax return.

Emergency Justfication: Emergency Justification Statement for Form 5884-B, New Hire Retention Credit On March 18, 2010, as part of the Hiring Incentives To Restore Employment Act, Public Law (P.L.) 111-147, Title I, Incentives for Hiring and Retaining Unemployed Workers, Section 102, Business Credit for retention of certain newly hired individuals in 2010, required the creation of the new Form 5884-B, New Hire Retention Credit. The new form reflects this new non-Coded general business credits under section 38. Since then, we have been developing the forms layout and its associated instructions with assistance from Chief Counsel. The final format of the two-page form and the instructions were finalized in late September. An earlier request to OMB for Paperwork Reduction Act submission on the form and its instructions would have yielded incorrect results. As the form and instructions are needed for fiscal year filers with tax years ending February 2011 for individuals and most business entities waiting the full 150 days for the process would yield a February 2011 availability date. This would hamper timely filing of taxpayer tax returns, especially corporate taxpayers, as the due date of fiscal year ending February 2011 corporations is May 16, 2011. A late availability of the form would not allow taxpayers to timely understand the new form and instructions. This would then place undue burden on both the taxpayer and the Service as extensions may have to be prepared by taxpayers and the Service would have to process them. Alternatively, the taxpayer could file their return on time and then have to file an amended return at a later date. This would also add undue taxpayer burden and burden the Service with additional processing costs for the second return. Thus, we are requesting an emergency Paperwork Reduction Act review by December 17, 2010.

Authorizing Statute(s): PL: Pub.L. 111 - 147 102 Name of Law: Hiring Incentives to Restore Employment (HIRE) Act

Citations for New Statutory Requirements: PL: Pub.L. 111 - 147 102 Name of Law: Hiring Incentives to Restore Employment (HIRE) Act

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

Federal Register Notices & Comments
Did the Agency receive public comments on this ICR? No

Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Form 5884-B - New Hire Retention Credit	5884-B

ICR Summary of Burden

	Total Approved	Change Due to New Statute
Annual Number of Responses	1,125,000	1,125,000
Annual Time Burden (Hours)	13,815,000	13,815,000
Annual Cost Burden (Dollars)	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: This is a new collection. Based on legislative action on March 18, 2010, as part of the Hiring Incentives To Restore Employment Act, Public Law (P.L.) 111-147, Title I, Incentives for Hiring and Retaining Unemployed Workers, Section 102, Business Credit for retention of certain newly hired individuals in 2010, required the creation of the new Form 5884-B, New Hire Retention Credit. The new form reflects this new non-Coded general business credits under section 38, This will result in increase in estimated responses by 1,125,000 and the number of total burden hours by 13,815,000.

Annual Cost to Federal Government: $6,700

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

Agency Contact: Emile Beausejour 2026228003

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