Qualified lessee construction allowances for short-term leases

ICR 201805-1545-030

OMB: 1545-1661

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2018-06-05
IC Document Collections
ICR Details
1545-1661 201805-1545-030
Active 201502-1545-006
TREAS/IRS
Qualified lessee construction allowances for short-term leases
Extension without change of a currently approved collection   No
Regular
Approved without change 09/06/2018
Retrieve Notice of Action (NOA) 07/24/2018
  Inventory as of this Action Requested Previously Approved
09/30/2021 36 Months From Approved 09/30/2018
10,000 0 10,000
10,000 0 10,000
0 0 0

The previously approved regulations provide guidance with respect to Sec. 110, which provides a safe harbor whereby it will be assumed that a construction allowance provided by a lessor to a lessee is used to construct or improve lessor property when long-term property is constructed or improved and used pursuant to a short-term lease. The regulations also provide a reporting requirement that ensures that both the lessee and lessor consistently treat the property subject to the construction allowance as nonresidential real property owned by the lessor.

US Code: 26 USC 110 Name of Law: Income tax paid by lessee corporation.
  
None

Not associated with rulemaking

  83 FR 11580 03/15/2018
83 FR 35056 07/24/2018
No

1
IC Title Form No. Form Name
TD 8901 (REG-106010-98) Qualified Lessee Construction Allowance for Short-Term Leases

  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 10,000 10,000 0 0 0 0
Annual Time Burden (Hours) 10,000 10,000 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$2,350
No
    Yes
    Yes
No
No
No
Uncollected
Paul Handleman 202 622-3040

  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.
07/24/2018


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