Recapture of Low-Income Housing Credit

ICR 201601-1545-012

OMB: 1545-1035

Federal Form Document

Forms and Documents
Document
Name
Status
Form and Instruction
Modified
Supplementary Document
2016-01-28
Supplementary Document
2016-01-28
Supporting Statement A
2016-01-28
IC Document Collections
IC ID
Document
Title
Status
43868 Modified
ICR Details
1545-1035 201601-1545-012
Historical Active 201210-1545-025
TREAS/IRS Ready
Recapture of Low-Income Housing Credit
Extension without change of a currently approved collection   No
Regular
Approved without change 05/15/2016
Retrieve Notice of Action (NOA) 01/29/2016
  Inventory as of this Action Requested Previously Approved
05/31/2019 36 Months From Approved 05/31/2016
1,000 0 1,000
7,842 0 7,842
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 falls 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.

US Code: 26 USC 42 Name of Law: Low-income housing credit.
  
None

Not associated with rulemaking

  80 FR 70881 11/16/2015
81 FR 5032 01/29/2016
No

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

  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 1,000 1,000 0 0 0 0
Annual Time Burden (Hours) 7,842 7,842 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$545
No
No
No
No
No
Uncollected
David Buchanan 202 317-5768

  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.
01/29/2016


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