Recapture of Low-Income Housing Credit

ICR 200409-1545-048

OMB: 1545-1035

Federal Form Document

Forms and Documents
Document
Name
Status
No forms / supporting documents in this ICR. Check IC Document Collections.
IC Document Collections
IC ID
Document
Title
Status
40007 Migrated
ICR Details
1545-1035 200409-1545-048
Historical Active 200306-1545-014
TREAS/IRS
Recapture of Low-Income Housing Credit
No material or nonsubstantive change to a currently approved collection   No
Regular
Approved without change 09/23/2004
Retrieve Notice of Action (NOA) 09/23/2004
  Inventory as of this Action Requested Previously Approved
07/31/2006 07/31/2006 07/31/2006
1,440 0 1,440
11,705 0 10,841
0 0 0

IRC section 42 permits owners of residential rental projects providing low-income housing to claim a credit against their income tax. If the property is disposed of or it fails to meet certain requirements over a 15-year compliance period and a bond is not posted, the owner must recapture on Form 8611 part of the credit(s) taken in prior years.

None
None


No

1
IC Title Form No. Form Name
Recapture of Low-Income Housing Credit 8611

  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 1,440 1,440 0 0 0 0
Annual Time Burden (Hours) 11,705 10,841 0 864 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
Yes
No

$0
No
No
Uncollected
Uncollected
Uncollected
Uncollected

  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:
 
 
 
 
 
 
 
    (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;
 
 
 
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.
09/23/2004


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