Investment Credit

Forms and Documents

Document Name	Status
Expiration Explanation.rtf Supplementary Document	2009-10-26
09 burden.PDF Supplementary Document	2009-10-26
F3468_2009SS.doc Supporting Statement A	2009-10-29

IC Document Collections

IC ID	Document Title	Status
39648	Investment Credit Instruction	Modified

ICR Details

OMB Control No: 1545-0155	ICR Reference No: 200910-1545-025
Status: Historical Active	Previous ICR Reference No: 200903-1545-022
Agency/Subagency: TREAS/IRS	Agency Tracking No: ah-0155-025
Title: Investment Credit
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 04/14/2010
	Date Received in OIRA: 11/17/2009
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2013	36 Months From Approved	04/30/2010
Responses	15,345	0	15,345
Time Burden (Hours)	530,937	0	665,206
Cost Burden (Dollars)	0	0	0

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Abstract: Taxpayers are allowed a credit against their income tax for certain expenses they incur for their trades or businesses. Form 3468 is used to compute this investment tax credit. The information collected is used by the IRS to verify that the credit has been correctly computed.

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Authorizing Statute(s): US Code: 26 USC 46 Name of Law: Amount of credit
  

Citations for New Statutory Requirements: PL: Pub.L. 109 - 432 207 Name of Law: Tax Relief and Health Care Act of 2006
PL: Pub.L. 109 - 58 1336, 1337 Name of Law: Energy Policy Act of 2005
PL: Pub.L. 110 - 289 3022 Name of Law: Housing and Economic Recovery Act of 2008
PL: Pub.L. 110 - 343 104(a), 105, etc. Name of Law: Energy Improvement and Extension Act of 2008 (Division B)
PL: Pub.L. 110 - 343 320, 702(d) Name of Law: Tax Extenders and Alternative Minimum Tax Relief Act of 2008
PL: Pub.L. 111 - 5 1102, 1103, 1302 Name of Law: American Recovery and Reinvestment Act of 2009

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

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	74 FR 40644	08/12/2009
30-day Notice:	Federal Register Citation:	Citation Date:
	74 FR 58073	11/10/2009
Did the Agency receive public comments on this ICR? No

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

IC Title	Form No.	Form Name
Investment Credit	3468	Investment Credit

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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	15,345	15,345	0	0	0	0
Annual Time Burden (Hours)	530,937	665,206	-134,269	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: Form 3468 is used to compute Taxpayers credit against their income tax for certain expenses incurred for their trades or businesses. The information collected is used by the IRS to verify that the credit has been correctly computed. Changes to the form from the prior submission include: The Energy Improvement and Extension Act of 2008: • Added three new energy properties eligible for the energy tax year. credit for property placed in service after October 3, 2008. • Increased the qualified fuel cell limit from $500 per half kilowatt capacity to $1,500 per half kilowatt capacity. • Allow the energy credit to offset the alternative minimum tax for tax years beginning after October 3, 2008. The American Recovery and Reinvestment Act of 2009: • Added a new investment credit for qualifying advanced energy project credit for periods after February 17, 2009. • Repealed the credit limitation for qualified small wind energy property for periods after December 31, 2008. • Provides an election to treat qualified facilities as energy property for facilities placed in service after December 31, 2008 The above changes have resulted in a net decrease of 134,269 program hours.

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Annual Cost to Federal Government: $10,713

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]? Uncollected

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

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Common Form ICR:  No

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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: 11/17/2009

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