U. S. Business Income Tax return

Instructions for Form 8942

Department of the Treasury
Internal Revenue Service

(June 2010)

Application for Certification of Qualified Investments Eligible for Credits and
Grants Under the Qualifying Therapeutic Discovery Project Program
Section references are to the Internal
Revenue Code unless otherwise noted.

General Instructions
Purpose of Form
Use Form 8942 to apply, under the
Qualifying Therapeutic Discovery Project
(QTDP) Program, for:
• Certification of qualified investments
eligible for a QTDP credit, and
• A grant in lieu of the QTDP credit.
A separate Form 8942 must be filed for
each project for which the applicant is
requesting certification.

Definitions
Qualifying Therapeutic
Discovery Project Program
Under the Patient Protection and
Affordable Care Act (Public Law
111-148), the IRS and the Department of
Health and Human Services (HHS) have
established the qualifying therapeutic
discovery project program in accordance
with Notice 2010-45 to consider and
award certifications for qualified
investments eligible for the credit to
qualifying therapeutic discovery project
sponsors. An eligible taxpayer may apply
for certification from the IRS of a qualified
investment with respect to a qualifying
therapeutic discovery project as eligible
for a credit, or for certain applicants, a
grant under the program. The IRS will
consult with HHS in conducting this
program. The total amount of qualified
investments that will be certified by the
IRS for all applicants under the qualifying
therapeutic discovery project program will
not exceed $2 billion. The total amount of
credits that may be allocated and grants
that may be paid will not exceed $1
billion.
For more information on the Qualifying
Therapeutic Discovery Project Program,
see Notice 2010-45, 2010-23 I.R.B. 734,
available at http://www.irs.gov/irb/
2010-23_IRB/ar08.html.

Qualifying Therapeutic
Discovery Project Credit
The QTDP credit is part of the investment
credit for tax years beginning in 2009 or
2010. The QTDP credit for any tax year is
an amount equal to 50 percent of the
qualified investment (defined below) for
that tax year with respect to any qualifying
therapeutic discovery project (defined
below) of an eligible taxpayer (defined

below). The amount that is treated as
qualified investment shall not exceed the
amount certified by the IRS as eligible for
the QTDP credit.

Qualifying Therapeutic
Discovery Project
A qualifying therapeutic discovery project
is a project that is designed to:
1. Treat or prevent diseases or
conditions by conducting pre-clinical
activities, clinical trials, and clinical
studies, or carrying out research
protocols, for the purpose of securing
approval of a product under section
505(b) of the Federal Food, Drug, and
Cosmetic Act or section 351(a) of the
Public Health Service Act;
2. Diagnose diseases or conditions or
to determine molecular factors related to
diseases or conditions by developing
molecular diagnostics to guide
therapeutic decisions; or
3. Develop a product, process, or
technology to further the delivery or
administration of therapeutics.
Each project will be evaluated by
itself without reference to other
CAUTION
projects. Therefore, dividing a
project into multiple projects may result in
the projects not meeting the selection
criteria under section 48D(d)(3).

!

Qualified Investment
Generally, a qualified investment is the
aggregate amount of the costs paid or
incurred in a tax year beginning in 2009
or 2010 for expenses necessary for and
directly related to the conduct of a
qualifying therapeutic discovery project.
An investment will be considered a
qualified investment only if it is made in a
tax year beginning in 2009 or 2010.
Qualified investment does not include the
following costs.
• Remuneration for any employee
described in section 162(m)(3).
• Interest expenses.
• Facility maintenance expenses (defined
below).
• A cost identified as a service cost
under Regulations section 1.263A-1(e)(4).
• Any investment for which bonus
depreciation is allowed under section
168(k), 1400L(b)(1), or 1400N(d)(1).
• Any other expense determined by the
IRS.
Reduce qualified investment by the
amount of any grant excluded from gross
income, unless the grant can only be
used for costs not necessary for and
Cat. No. 55145S

directly related to the conduct of a
qualifying therapeutic discovery project.
The IRS will not certify more than $10
million as a qualified investment for any
single applicant and no applicant will be
allocated more than $5 million in QTDP
credits or grants in the aggregate for 2009
and 2010, regardless of the number of
projects the applicant sponsors.
The amount that is treated as qualified
investment for all tax years for any
qualifying therapeutic discovery project
may not exceed the amount certified by
the IRS as eligible for the QTDP credit.
Employees described in section
162(m)(3). The following employees are
described in 162(m)(3).
• The chief executive officer (or individual
acting in that capacity) of any applicant as
of the end of the tax year.
• An employee whose total
compensation for the tax year is required
to be reported to shareholders under
Securities Exchange Act of 1934 because
the employee is among the three highest
compensated officers for the tax year
(other than the principal executive officer
or the principal financial officer).
For more information on employees
described in section 162(m)(3), see
Notice 2007-49, 2007-25 I.R.B. 1429,
available at http://www.irs.gov/irb/
2007-25_IRB/ar01.html
Facility maintenance expenses.
Facility maintenance expenses are costs
paid or incurred to maintain a facility,
including:
• Mortgage or rent payments,
• Insurance payments,
• Utility and maintenance costs, and
• Costs of employment of maintenance
personnel.
Qualified progress expenditures. For
costs paid for property subject to
depreciation, rules similar to rules of
section 46(c)(4) and (d) (as in effect on
the day before the date of enactment of
the Revenue Reconciliation Act of 1990)
apply. For more information, see Qualified
Progress Expenditures in the Instructions
for Form 3468.
At-risk limit for individuals and closely
held corporations. The cost or basis of
depreciable property included in qualified
investment for the QTDP credit or grant
may be limited if you borrowed against
the property and are protected against
loss, or if you borrowed money from a
person who is related or who has an
interest (other than as a creditor) in the
business activity. The cost or basis must
be reduced by the amount of the

nonqualified nonrecourse financing
related to the property as of the close of
the tax year in which the property is
placed in service. Generally, if the
applicant is a partnership or S
corporation, whether any financing is
non-qualified nonrecourse financing is
determined at the partner or shareholder
level.
If, at the close of a tax year following
the year property was placed in service,
the nonqualified nonrecourse financing for
any property has increased or decreased,
then the credit base for the property
changes accordingly. The changes may
result in an increased QTDP credit (but
not greater than 50% of the qualified
investment that was certified) or a
recapture of the QTDP credit or grant in
the year of the change. See sections 49
and 465 for details.

c. To significantly advance the goal of
curing cancer within the 30-year period
beginning on May 21, 2010; and
3. The IRS determines that the
applicant’s project is among those
projects that have the greatest potential:
a. To create and sustain (directly or
indirectly) high quality, high-paying jobs in
the United States; and
b. To advance United States
competitiveness in the fields of life,
biological, and medical sciences.

above, before the partnership or the
pass-through entity may apply for a
QTDP grant.

A certification and allocation by the
IRS is not a determination that the costs
described in the application were or will
be, in fact, paid or incurred or that the
costs were or will be necessary for and
directly related to the conduct of a
qualified therapeutic discovery project
under section 48D(b).

Eligible Taxpayer

Project Information
Memorandum

Consistency requirement. An election
for a QTDP grant will be effective only if
an applicant makes the same election on
all the applicant’s applications for that tax
year. If the applicant’s applications are
inconsistent, then the election for a QTDP
grant will be invalid and the applicant will
be considered for certification of a credit
only. The applicant may file an amended
Form 8942 requesting a QTDP grant for
the inconsistent project, thus making all
elections for a QTDP grant for the same
year effective.

An eligible taxpayer is a taxpayer who
employs not more than 250 full-time and
part-time employees in all businesses of
the taxpayer at the time the application is
filed. In figuring the number of full-time
and part-time employees, do not include
leased employees. In determining the
number of employees, include the
employees of all members of the following
that the applicant is a member of:
• A controlled group of corporations
(defined in section 52(a));
• A group of trades or businesses under
common control (defined in section
52(b)); and
• An affiliated service group (defined in
section 414(m)).
A corporation is a member of a controlled
group of corporations if it is a member of
either a parent-subsidiary group (defined
in section 1563(a)) or a brother-sister
group (defined in section 1563(a), except
that ‘‘more than 50%’’ is substituted for
‘‘at least 80%’’ each place it appears in
section 1563(a)(1)), even if it is an
excluded member for purposes of being a
component member of a controlled group
(for example, a foreign corporation
subject to tax under section 881).

Certification of Qualified
Investment
The IRS will determine whether to certify
an applicant’s qualified investment for a
qualifying therapeutic discovery project
under the qualifying therapeutic discovery
project program, for which an application
has been filed, only if:
1. HHS determines that the
applicant’s project is a qualifying
therapeutic discovery project;
2. HHS determines that the
applicant’s project shows reasonable
potential:
a. To result in new therapies:
i. To treat areas of unmet medical
need, or
ii. To prevent, detect, or treat chronic
or acute diseases and conditions;
b. To reduce long-term health care
costs in the United States; or

The Project Information Memorandum is
an HHS form the applicant must complete
and file with Form 8942 as part of a
complete application for certification.

The QTDP Program uses the Payment
Management System for payment of
grants. Therefore, notwithstanding Notice
2010-45, section 8.02(4), an applicant
electing to request a QTDP grant need
not register with the Central Contractor
Registration. The IRS will send applicants
the forms necessary to process grant
payments.

When to File

HHS will review the Project Information
Memorandum to determine whether a
project meets the definition of qualifying
therapeutic discovery project and whether
the applicant has demonstrated that its
project shows a reasonable potential to
meet one or more of the goals referred to
in item (2) under Certification of Qualified
Investment, above.

File Form 8942 on or before July 21,
2010. Applications filed after July 21,
2010, will not be considered.

The Project Information Memorandum
form is available at http://grants.nih.gov/
grants/funding/QTDP_PIM/index.htm.

Private Delivery Services

Election of a Grant in Lieu of a
Credit
Generally, an applicant may elect to treat
the application for certification of qualified
investment for a QTDP credit as a
request for a QTDP grant in lieu of a
QTDP credit. However, the following
types of entities are not eligible for a
QTDP grant.
1. Any Federal, state, or local
government (or any political subdivision,
agency, or instrumentality thereof).
2. Any organization described in
section 501(c) and exempt from tax under
section 501(a).
3. An entity referred to in section
54(j)(4), including:
a. A clean renewable energy bond
lender,
b. A cooperative electric company, or
c. A governmental body.
4. Any partnership or other
pass-through entity, any partner or other
holder of an equity or profits interest of
which is described in (1), (2), or (3),
above.
A partnership or other pass-through
entity must determine if any of its partners
or other holders of any equity or profits
interest is described in (1), (2), or (3),

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Applications will be deemed submitted
on October 1, 2010, for purposes of
48D(d)(2)(B) only. For all other purposes,
the application date will be the date the
application is filed as determined under
section 7502.
Applicants can use certain private
delivery services designated by the IRS to
meet the “timely mailing as timely filing”
rule under section 7502. These private
delivery services include only the
following.
• DHL Express (DHL): DHL Same Day
Service.
• Federal Express (FedEx): FedEx
Priority Overnight, FedEx Standard
Overnight, FedEx 2Day, FedEx
International Priority, and FedEx
International First.
• United Parcel Service (UPS): UPS Next
Day Air, UPS Next Day Air Saver, UPS
2nd Day Air, UPS 2nd Day Air A.M., UPS
Worldwide Express Plus, and UPS
Worldwide Express.
The private delivery service can tell the
applicant how to get written proof of the
mailing date.

Where to File
File Form 8942 by United States mail,
private delivery service, or hand delivery
(between the hours of 8 a.m. and 4 p.m.
EST, Monday through Friday) to:
Internal Revenue Service
201 W. Rivercenter Blvd.
Stop 5701G
Covington, KY 41011.
Instructions for Form 8942 (June 2010)

Who Must Sign
Form 8942 must be signed and dated by
a person who:
• Has personal knowledge of the facts
stated in the application, and
• Is authorized to bind the applicant.
A stamped signature or faxed signature is
not permitted.
Note: Form 8942 must be signed by the
same person who signs the attached
Project Information Memorandum.
For a corporation, the form must be
signed and dated by:
• The president, vice president,
treasurer, assistant treasurer, chief
accounting officer; or
• Any other corporate officer (such as tax
officer) authorized to sign.
For a partnership, the form must be
signed and dated by a general partner.
For a limited liability company classified
as a partnership, the form must be signed
by a member or manager who would be
authorized to sign the partnership’s Form
1065. For more information on who can
sign for a partnership, see the Instructions
for Form 1065.
For an estate or trust, the form must
be signed by the fiduciary, or an
authorized representative. If there are
joint fiduciaries, only one is required to
sign the form.
If the form is filed on behalf of the
applicant by a receiver, trustee, or
assignee, the fiduciary must sign the
form.

Paid Preparer
If an employee of the applicant completes
the form, the paid preparer’s space
should remain blank. Anyone who
prepares the form but does not charge
the applicant should not complete that
section. Generally, anyone who is paid to
prepare the form must sign it and fill in the
“Paid Preparer’s Use Only” area.
The paid preparer must complete the
required preparer information and:
• Sign the form in the space provided for
the preparer’s signature.
• Give a copy of the form to the
applicant.

Assembling the
Application
To ensure that the application is correctly
processed, attach all documents and
other forms in the following order.
1. Form 8942.
2. Form 2848, Power of Attorney and
Declaration of Representative. See the
instructions to line 13.
3. Project Information Memorandum.
4. Consent to Public Disclosure of
Certain Qualifying Therapeutic Discovery
Project Program Application Information
(if the applicant elects to consent to
certain limited disclosure). See section
10.02 and Appendix B in Notice 2010-45.
Complete every applicable entry space
on Form 8942. Do not enter “See
Instructions for Form 8942 (June 2010)

Attached” instead of completing the entry
spaces. If more space is needed, attach
separate sheets using the same size and
format as the printed forms. If there are
supporting statements and attachments,
arrange them in the same order as the
lines they support and attach them last.
Show the totals on the Form 8942. Enter
the applicant’s name and TIN on each
supporting statement or attachment.
An application is not complete if it
does not include a Project
CAUTION
Information Memorandum. See
Project Information Memorandum, above,
for more information.

!

Amended Application
File an amended Form 8942 to:
• Correct an error on a Form 8942
already filed. Check the box for an
amended application at the top of page 1.
Attach a statement that identifies the line
number of each amended item, the
corrected amount, treatment, description,
or characterization of the item, and an
explanation of the reasons for each
change.
• Request a QTDP grant for an applicant
that requested certification of qualified
investment for a QTDP credit for its 2009
tax year, 2010 tax year, or both, but did
not request a QTDP grant on Form 8942
for such tax year(s) at the time it filed its
application. The applicant can make a
request for a QTDP grant by filing an
amended Form 8942 requesting a QTDP
grant not later than the due date
(including extensions) for filing the tax
return for the applicant’s tax year in which
the certified qualified investment to which
the QTDP grant relates was made.
• Correct the amount of qualified
investment previously reported if the
applicant requested a grant. If the
applicant requested a grant and the
amount of actual costs paid or incurred
for qualified investment is less than the
amount included on line 35 for which
certification was requested, file an
amended Form 8942 within 15 days after
the close of the applicant’s tax year to
show the actual costs paid or incurred for
qualified investment. In addition, if the
applicant completed column (a) and the
amount of actual costs paid or incurred as
of September 30, 2010, for qualified
investment is less than the amount shown
on line 34, column (a) of the Form 8942
filed, file an amended Form 8942 by
October 15, 2010, to show the actual
costs for that period.

Recapture
If the project ceases to be a qualified
therapeutic discovery project, the
applicant may need to recapture the
amount of the QTDP credit or grant.
If the amount of the QTDP grant
exceeds the amount allowable as a
QTDP grant, the excess must be
recaptured as if the investment to which
the excess portion of the QTDP grant
related had ceased to be a qualified

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investment immediately after the QTDP
grant was made.
If a QTDP credit was figured with
respect to the investment for any tax year
ending before a QTDP grant is made:
• The applicant’s tax for the tax year that
the QTDP grant is made will be increased
by the amount of the QTDP credit allowed
under section 38;
• The applicant’s general business
carryforwards under section 39 will be
adjusted to recapture the portion of the
QTDP credit that was not allowed under
section 38; and
• The amount of the QTDP grant will be
determined without regard to any
reduction in the basis of any property
subject to depreciation because of the
QTDP credit.
For information generally on the
recapture of the investment credit, see
Form 4255 and the Instructions to Form
3468.

Specific Instructions
Line 2. Taxpayer
Identification Number
Enter the applicant’s employer
identification number (EIN) if the
applicant:
• Has an EIN;
• Has employees;
• Is a corporation, partnership, trust,
estate, or other entity required to have an
EIN; or
• Is electing on line 17 to apply for a
QTDP grant.
If the applicant is required to but does not
have an EIN, the applicant must apply for
one on Form SS-4, Application for
Employer Identification Number. An EIN
can be applied for:
• Online — Click on the EIN link at www.
irs.gov/businesses/small. The EIN is
issued immediately once the application
information is validated.
• By telephone at 1-800-829-4933.
• By mailing or faxing Form SS-4.
The applicant must have received an EIN
by the time Form 8942 is filed in order for
the form to be processed. For more
information about EINs, see Publication
1635.

!

CAUTION

For the IRS to pay a QTDP grant,
an application for a QTDP grant
must include the applicant’s EIN.

Lines 3 and 4
Enter the address of the location of the
applicant’s principal place of business.
Include the suite, room, or other unit
number after the street address. For
purposes of Form 8942, a P.O. box
number is not a valid street address.

Line 7
Check the box that applies.
An affiliated group is one or more
chains of includible corporations (section

1504(a)) connected through stock
ownership with a common parent
corporation. The common parent must be
an includible corporation and the following
requirements must be met.
1. The common parent must own
directly stock that represents at least 80%
of the total voting power and at least 80%
of the total value of the stock of at least
one of the other includible corporations.
2. Stock that represents at least 80%
of the total voting power and at least 80%
of the total value of the stock of each of
the other corporations (except for the
common parent) must be owned directly
by one or more of the other includible
corporations.

• A controlled group of corporations

For this purpose, the term “stock”
generally does not include any stock that
(a) is nonvoting, (b) is nonconvertible,
(c) is limited and preferred as to dividends
and does not participate significantly in
corporate growth, and (d) has redemption
and liquidation rights that do not exceed
the issue price of the stock (except for a
reasonable redemption or liquidation
premium). See section 1504(a)(4). See
section 1563(d)(1) for the definition of
stock for purposes of determining stock
ownership.

Line 17

Lines 9 through 12
Enter the name, address, and EIN of the
common parent. See the instructions for
Lines 3 and 4 for entering address
information.

Line 13
Enter the name and address of the
contact person. See the instructions for
Lines 3 and 4 for entering address
information.
The contact person is the person the
IRS or HHS may contact if there is an
issue with the application. If the contact
person does not have legal authority to
bind the applicant, the applicant must
attach to Form 8942 a properly executed
Form 2848. On Form 2848, line 3, enter
“Section 9023 of the Affordable Care Act”
as the type of tax. Leave the entry spaces
for Tax Form Number and for Year(s) or
Period(s) blank. Check the box on line 4.

Line 14
On line 14a, enter the name of the
project. If the applicant is filing
applications for more than one project,
select names for the different projects that
are readily distinguishable from each
other.
On line 14b, enter a brief description of
the project. Limit the description to 50
words or fewer.

Lines 15 and 16
Enter the number of employees in all
businesses of the applicant on the date
the application is filed. In determining the
number of employees, include the
employees of all members of the following
that the applicant is a member of.

(defined in section 52(a)). For the
definition of a controlled group of
corporations, see Eligible Taxpayer,
earlier.
• A group of trades or businesses under
common control (defined in section
52(b)).
• An affiliated service group (defined in
section 414(m)).
Attach a statement listing the name,
address, and EIN of each of the other
members.
For purposes of this section, the term
employee includes both full-time and
part-time employees but does not include
leased employees.
Complete line 17 to elect to apply for a
QTDP grant for tax year 2009, 2010, or
both. If the applicant elects to apply for a
QTDP grant, complete lines 18 and 19.
Otherwise, skip to line 20.
If the applicant is filing multiple
applications, the elections made
CAUTION
on all of the applications must be
consistent. See Consistency requirement,
above.

!

Line 18
Enter the applicant’s unique nine-digit
Data Universal Numbering System
(D-U-N-S) number from Dun and
Bradstreet. If the applicant does not
already have a D-U-N-S number, it may
request one at no cost by calling the
dedicated toll-free D-U-N-S number
request line at 1-866-705-5711.
Information on obtaining a D-U-N-S
number may be obtained at www.grants.
gov/applicants/org_step1.jsp.

Line 19
Entities referred to in section 54(j)(4) are
the following.
• Cooperative electric company. This is a
mutual or cooperative electric company
described in section 501(c)(12) or
1381(a)(2)(C), or a not-for-profit electric
utility that has received a loan or loan
guarantee under the Rural Electrification
Act.
• Clean renewable energy bond lender.
This is a lender that is a cooperative
which is owned by, or has outstanding
loans to, 100 or more cooperative electric
companies and is in existence on
February 1, 2002, and including any
affiliated entity which is controlled by such
lender.
• Governmental body. This is any state,
territory, possession of the United States,
the District of Columbia, Indian tribal
government, and any political subdivision
thereof.

Note. For this purpose, both actual
employees of the applicant and leased
employees may be included.

Lines 26 and 27
The applicant can attach a statement, not
to exceed 250 words, supporting line 26
and a statement, not to exceed 250
words, supporting line 27.

Part III. Qualified
Investment
Enter on lines 28 through 33 the amount
of qualified investment in each listed
category. Qualified investments may
include expenses for wages, supplies and
lab costs, depreciable property, contractor
costs, and any other costs that would be
considered part of the qualified
investment for the project. Applicants for
QTDP grants for tax year 2009 whose
2009 tax year ends after the date the
application is filed must complete column
(a) and columns (b) and (c), as
applicable. All other applicants, complete
only columns (b) and (c), as applicable.
Qualified investments do not include
amounts paid or incurred to another
person for research services relating to
the project if the research services were
not performed on behalf of the applicant.
If the applicant is filing applications for
multiple projects, qualified investment
included for any project on any one Form
8942 cannot include amounts included in
qualified investment for any other project
on any other Form 8942. Qualified
investments related to multiple projects,
must be allocated between the projects
using a reasonable method.
Column (a). Enter in column (a) of each
line qualified investment that is the sum
of:
• Qualified investment actually paid or
incurred as of the date the application is
filed; and
• Qualified investment projected to be
paid or incurred between the date the
application is filed and the earlier of the
end of the 2009 tax year or September
30, 2010.
Column (b). Enter the total amount paid
or incurred (including the amount
projected to be paid or incurred) for the
2009 tax year for each cost on line 28
through line 33.
Column (c). Enter the total amount paid
or incurred (including the amount
projected to be paid or incurred) for the
2010 tax year for each cost on line 28
through line 33.

Line 31

Enter the number of full-time and
part-time employees in the United States
whose work is directly billed to the project
and the average salaries of the
employees in each category.

Qualified investment derived from
third-party contractors only includes
amounts paid or incurred on behalf of the
applicant pursuant to an agreement that
is entered into prior to the performance of
the research services relating to the
project and the agreement required that
the research services be performed on
behalf of the applicant. If research
services are not performed on behalf of

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Instructions for Form 8942 (June 2010)

Line 21

the applicant, then the applicant cannot
include costs relating to those services in
the qualified investment.

Privacy Act and Paperwork Reduction
Act Notice. We ask for the information
on these forms to carry out the Internal
Revenue laws of the United States. We
need it to ensure that you are complying
with these laws and to allow us to figure
and collect the right amount of tax. Our
authority to ask for the information on this
form is Internal Revenue Code section
48D. Section 6109 requires applicants
and return preparers to provide their

identifying numbers on the form . You are
required to provide the information
requested on this form if you wish to
apply for certification of qualified
investments for purposes of the
Qualifying Therapeutic Discovery Project
Program. We need it to determine
whether your investments meet the
requirements for certification. If you do
not provide this information, we may be
unable to process your certification
request. Providing false or fraudulent
information may subject you to penalties.
We may disclose this information to
Federal agencies as authorized by law,
including to the Department of Health and
Human Services to obtain information
regarding your eligibility for this credit or
grant and to the Department of Justice for
civil or criminal litigation. We may disclose
this information to cities, states, the
District of Columbia, and U.S.
commonwealths and territories for use in
administering their tax laws. We may also
disclose this information to other
countries under a tax treaty, to Federal
and state agencies to enforce Federal
nontax criminal laws, or to Federal law
enforcement and intelligence agencies to
combat terrorism.
You are not required to provide the
information requested on a form that is

Instructions for Form 8942 (June 2010)

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Line 33
Enter the amount of qualified investment
derived from depreciable property that is
attributable to qualified progress
expenditures.

Project Information
Memorandum
Attach a completed Project Information
Memorandum to Form 8942.
The Project Information Memorandum
form is available at http://grants.nih.gov/
grants/funding/QTDP_PIM/index.htm.
See Notice 2010-45 for additional
information on the Project Information
Memorandum.

subject to the Paperwork Reduction Act
unless the form displays a valid OMB
control number. Books or records relating
to a form or its instructions must be
retained as long as their contents may
become material in the administration of
any Internal Revenue law. Generally, tax
returns and return information are
confidential, as required by section 6103.
The time needed to complete and file
this form will vary depending on individual
circumstances. The estimated burden for
taxpayers who file this form is shown
below:
Recordkeeping . . . . . . . . . . . .

8 hrs., 36
min.

Learning about the law or the
form . . . . . . . . . . . . . . . . . . . .

1 hr., 03
min.

Preparing and sending the form
to the IRS . . . . . . . . . . . . . . . .

2 hrs., 26
min.

If you have comments concerning the
accuracy of these time estimates or
suggestions for making this form simpler,
we would be happy to hear from you. See
the instructions for the tax return with
which this form is filed.