View Information Collection Request (ICR) Package

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View ICR - OIRA Conclusion

OMB Control No: 1545-1073	ICR Reference No: 201101-1545-020
Status: Historical Active	Previous ICR Reference No: 200807-1545-030
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Credit for Prior Year Minimum Tax - Individuals, Estates and Trusts
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: 02/10/2011
	Date Received in OIRA: 02/03/2011
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	11/30/2011	11/30/2011	11/30/2011
Responses	12,914	0	12,914
Time Burden (Hours)	93,756	0	89,107
Cost Burden (Dollars)	0	0	0

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute
Annual Number of Responses	12,914	12,914	0
Annual Time Burden (Hours)	93,756	89,107	4,649
Annual Cost Burden (Dollars)	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: Form 8801 is used by individuals, estates, and trusts to compute the minimum tax credit. Former lines 22, 23, 60 and 61 have been deleted. These lines were needed for 2008 and 2009 to increase the minimum tax credit and the AMT refundable credit amount by 50% of certain unpaid interest and penalties attributable to the exercise of incentive stock options. That treatment was allowed by Public Law 110-343 (Division C), section 103(b), but only for 2008 and 2009. The lines following line 21 have been renumbered accordingly. Minor changes were made to other lines on the form to update various inflation-adjusted dollar amounts and references to lines on other forms. Corresponding changes were made to the form instructions. The burden has increased by 4,649 hours as a result of these statutory changes.

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