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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:
1545-2198
ICR Reference No:
201010-1545-038
Status:
Historical Active
Previous ICR Reference No:
Agency/Subagency:
TREAS/IRS
Agency Tracking No:
Approval requested by 11/15/2010
Title:
Form 8941 - Credit for Small Employer Health Insurance Premiums
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:
11/15/2010
OIRA Conclusion Action:
Approved without change
Conclusion Date:
11/08/2010
Retrieve Notice of Action (NOA)
Date Received in OIRA:
11/05/2010
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
05/31/2011
6 Months From Approved
Responses
3,046,964
0
0
Time Burden (Hours)
40,189,456
0
0
Cost Burden (Dollars)
0
0
0
Abstract:
Form 8941 is the result of new legislation from the Patient Protection and Affordable Care Act. Form 8941 allows a small business to claim a tax credit for a percentage of the health insurance premiums paid by the employer. The tax credit becomes effective in 2010. Form 8941 is required by the employers as a way to claim the credit. The IRS will also need the form to gather information and process the tax credit.
Emergency Justfication:
Section 1421 of the Patient Protection and Affordable Care Act, PL 111-148, allows qualified small employers to elect, beginning in 2010, a tax credit for 50% of their employee health care coverage expenses. Form 8941, Credit for Small Employer Health Insurance Premiums, has been developed to help employers compute the tax credit. The credit is designed to encourage small employers to offer health insurance coverage for the first time or maintain coverage they already have. We have solicited comments through various public notification cards and public notice. We will also issue a new 60-day FRN once the final form is released to the public. In 2010, the credit is generally available to small employers that contribute an amount equivalent to at least half the cost of single coverage towards buying health insurance for their employees. Based on the feedback from the general public, there is a strong desire to see and understand the form and filing requirements as quickly as possible. Failure to make this form available to the public prior to the 2010 filing season could result in an adverse financial impact on the taxpaying public and hinder the mission of the IRS.
Authorizing Statute(s):
PL:
Pub.L. 111 - 148 1421
Name of Law: The Patient Protection and Affordable Care Act
Citations for New Statutory Requirements:
PL: Pub.L. 111 - 148 1421 Name of Law: The Patient Protection and Affordable Care Act
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
Other Documents for OIRA Review
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 8941 - Credit for Small Employer Health Insurance Premiums
8941
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
3,046,964
0
3,046,964
0
0
0
Annual Time Burden (Hours)
40,189,456
0
40,189,456
0
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:
Section 1421 of the Patient Protection and Affordable Care Act, PL 111-148, allows qualified small employers to elect, beginning in 2010, a tax credit for 50% of their employee health care coverage expenses. Form 8941, Credit for Small Employer Health Insurance Premiums, has been developed to help employers compute the tax credit. The credit is designed to encourage small employers to offer health insurance coverage for the first time or maintain coverage they already have. The creation of this new form will result in an increase in total burden by 40,189,456 hours and 3,046,964 estimated responses.
Annual Cost to Federal Government:
$15,000
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]?
Yes
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:
Neal Dickman 2026225013
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:
11/05/2010
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