Investment Credit

Forms and Documents

Document Name	Status
Form Form 3468 Investment Credit Form	Modified
Expiration Explanation.rtf Supplementary Document	2009-10-26
F3468_2012SS.doc Supporting Statement A	2016-06-01

IC Document Collections

IC ID	Document Title	Status
39648	Investment Credit Form	Modified

ICR Details

OMB Control No: 1545-0155	ICR Reference No: 201604-1545-007
Status: Historical Active	Previous ICR Reference No: 201304-1545-003
Agency/Subagency: TREAS/IRS	Agency Tracking No:
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: 12/18/2017
	Date Received in OIRA: 06/30/2016
Terms of Clearance: OMB approves the collection for a year. While the supporting statement acknowledges that personally identifiable information is being collected, and a SORN has been issued, the instructions to the information collection do not include a Privacy Act statement, IRS must address this inconsistency prior to seeking renewal

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2018	36 Months From Approved	12/31/2017
Responses	15,345	0	15,345
Time Burden (Hours)	523,418	0	530,937
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. This submission was revised to reflect a decline in burden.

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Authorizing Statute(s): US Code: 26 USC 47 Name of Law: Rehabilitation credit
   US Code: 26 USC 46 Name of Law: Amount of credit
   US Code: 26 USC 48 Name of Law: Energy credit
  

Citations for New Statutory Requirements: None

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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:
	81 FR 13878	03/15/2016
30-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 42794	06/30/2016
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	Form 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)	523,418	530,937	0	0	-7,519	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: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: Form 3468 is used by individuals, businesses, and estates and trusts. The estimate of burden that is being reported under 1545-0155 reports only the burden imposed on estates and trusts. The portion of the burden imposed on individual taxpayers is approved and reported under OMB Control Number 1545-0074. The portion of the burden imposed on business is approved and reported under OMB Control Number 1545-0123. There has been no changes to the form. The change in burden is only a reflection of the change in the number of burden time hours.

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Annual Cost to Federal Government: $9,300

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     Yes

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     Yes

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

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: 06/30/2016

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