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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
1545-0895
ICR Reference No:
200810-1545-028
Status:
Historical Active
Previous ICR Reference No:
200708-1545-021
Agency/Subagency:
TREAS/IRS
Agency Tracking No:
Title:
General Business Credit
Type of Information Collection:
No material or nonsubstantive change to a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
06/25/2010
Retrieve Notice of Action (NOA)
Date Received in OIRA:
11/20/2009
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
12/31/2010
12/31/2010
12/31/2010
Responses
179,650
0
179,650
Time Burden (Hours)
4,643,953
0
3,131,300
Cost Burden (Dollars)
0
0
0
Abstract:
IRC section 38 permits taxpayers to reduce their income tax liability by the amount of their general business credit, which is an aggregation of their investment credit, jobs credit, alcohol fuel credit, research credit, low-income housing credit, disabled access credit, enhanced oil recovery credit, etc. Form 3800 is used to figure the correct credit.
Authorizing Statute(s):
US Code:
26 USC 38
Name of Law: General business credit
Citations for New Statutory Requirements:
PL: Pub.L. 110 - 289 3022 Name of Law: Housing and Economic Recovery Act of 2008
PL: Pub.L. 111 - 5 1201(b) Name of Law: American Recovery and Reinvestment Act
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
72 FR 29038
05/23/2007
30-day Notice:
Federal Register Citation:
Citation Date:
72 FR 52430
09/13/2007
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
General Business Credit
3800
General Business Credit
ICR Summary of Burden
Total Approved
Previously Approved
Change Due to New Statute
Change Due to Agency Discretion
Change Due to Adjustment in Estimate
Change Due to Potential Violation of the PRA
Annual Number of Responses
179,650
179,650
0
0
0
0
Annual Time Burden (Hours)
4,643,953
3,131,300
620,075
892,578
0
0
Annual Cost Burden (Dollars)
0
0
0
0
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:
The Housing and Economic Recovery Act of 2008 (P.L. 110-289), Sec. 3022, allows the low-income housing credit and the rehabilitation credit to be used against Alternative Minimum Tax (AMT) after 2007. Part II of the form was extended to incorporate the new low-income housing credit and the rehabilitation credit as part of the general business credits that are allowed against AMT. As a result, lines 20 through 32 were added to Part II to calculate the allowable credit for all credits allowed against AMT. This change allows for an easier addition of future credits allowed against AMT. Also, due to its expiration under IRC 1400P, the Hurricane Katrina housing credit from pass-through entities was removed. These changes resulted in a total burden increase of 620,075 hours. Additionally, for its first tax year ending after March 31, 2008, a corporation can elect to claim a refundable credit for certain unused research credits in lieu of the special depreciation allowance for eligible qualified property. This election is extended (by the American Recovery and Reinvestment Tax Act of 2009 (PL 111-5) for one year to apply to property that is placed in service in 2009 (extension property). Corporations may also choose not to have this election apply to extension property, or to make this election only for extension property if the election was not made in its first tax year ending after March 31, 2008. Due to the National Disaster Relief Act (P.L. 110-343), the qualified railroad track maintenance credit is extended and now allowed to offset AMT. Also, according the P.L. 110-343, the following two credits were added: Credits for affected Midwestern disaster area employers (which was previously reported on Form 5884-A) and Carbon dioxide sequestration credit (previously reported on Form 8933). Due to the Food Conservation and Energy Act of 2008 (P.L. 110-234) the Agricultural chemicals security credit was added to form 3800 (previously reported on Form 8931). Also, the Credit for employer differential wage payments was added due to the Heroes Earnings Assistance and Relief Tax Act of 2008 (P.L. 110-245), which was previously reported on Form 8932. All of these credits are now found on the Form 3800, the General Business Credit form. Part II has been expanded to accommodate all of these general business credits that are allowed against the AMT. These changes have resulted in an additional burden increase of 892,578 hours.
Annual Cost to Federal Government:
$3,500
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]?
Uncollected
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
Yes
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Michael Cyrus 202 927-9545
Common Form ICR:
No
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:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It reduces burden on small entities;
(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
(f) It indicates the retention periods for recordkeeping requirements;
(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
(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;
(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
(i) It uses effective and efficient statistical survey methodology (if applicable); and
(j) It makes appropriate use of information technology.
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.
Certification Date:
11/20/2009
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