The empowerment zone employment (EZE)
credit is part of the general business credit under section 38.
However, unlike the other components of the general business
credit, taxpayers are allowed to offset 25 percent of their
alternative minimum tax with the EZE credit.
US Code:
26 USC
38 Name of Law: General Business Credit.
US Code: 26
USC 1396 Name of Law: Empowerment zone employment credit
US Code: 26
USC 1397 Name of Law: Other definitions and special rules
The change in burden is due a
change in the estimated number of respondents/responses and a
previous change to the form. The change in estimates is a result of
the creation of two OMB clearance buckets for individual and
business filers. All individual filer estimates are being reported
under 1545-0074. Business filer estimates are being reported under
1545-0123. The estimates associated with all other filers (i.e.,
estates, trusts) are being reported under 1545-1444 and therefor
the results in an overall burden decrease of 237,375 burden hours
(237,600 to 225), based on the decrease in the number of
respondents and responses to 25 (26,400 – 26,375). In addition, the
form change resulted in an additional 67 hour change to the overall
annual time burden, for a total burden of 158 hours.
$43,743
No
Yes
No
No
No
No
Uncollected
Natalie Stovall 512
339-5309
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.