Form 8609, Low-Income Housing Credit Allocation Certification; Form 8609-A, Annual Statement for Low-Income Housing Credit

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability

No forms / supporting documents in this ICR. Check IC Document Collections.

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
39925	Form 8609, Low-Income Housing Credit Allocation and Certification		Modified
254706	Low-Income Housing Credit Average Income Test Regulations		New
198618	Line 11 Worksheet		Modified
198616	Form 8609-A - Annual Statement for Low-Income Housing Credit		Modified

ICR Details

OMB Control No: 1545-0988	ICR Reference No: 202207-1545-012
Status: Historical Inactive	Previous ICR Reference No: 202101-1545-019
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Form 8609, Low-Income Housing Credit Allocation Certification; Form 8609-A, Annual Statement for Low-Income Housing Credit
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 09/30/2022
OIRA Conclusion Action: Preapproved	Conclusion Date: 10/06/2022
Retrieve Notice of Action (NOA)	Date Received in OIRA: 09/29/2022
Terms of Clearance: This submission is associated with the information collection requirements contained temporary regulation sections of TD 9967 and accompanying NPRM.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2023	6 Months From Approved	07/31/2024
Responses	33,000	0	30,000
Time Burden (Hours)	428,265	0	414,915
Cost Burden (Dollars)	0	0	0

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Abstract: Owners of residential low-income rental buildings may claim a low-income housing credit for each qualified building over a 10-year credit period. Form 8609 can be used to obtain a housing credit allocation from the housing credit agency. Form 8609, along with Form 8609-A, is used by the owner to certify necessary information required by the law. The private sector and government agencies, such as housing credit agencies, are affected groups.

Emergency Justfication: The Department of the Treasury and the Internal Revenue Service (IRS) are requesting emergency processing and immediate approval of paperwork requirements that will appear for the first time in temporary regulations included in the forthcoming LIHTC Average Income TD. Taxpayers are seeking to rely on these final regulations as soon as possible, and enabling that reliance is a top priority of the Department. Reliance, however, will not practically be possible before these paperwork requirements receive OMB approval. Thus, emergency processing and immediate approval are in the public interest.

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Authorizing Statute(s): US Code: 26 USC 42 Name of Law: Low-income housing credit
   US Code: 26 USC 38 Name of Law: General Business Credit
  

Citations for New Statutory Requirements: PL: Pub.L. 115 - 141 42 Name of Law: Consolidated Appropriations Act of 2018

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1545-BO92	Final or interim final rulemaking

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 4

table that charts list of burden

IC Title	Form No.	Form Name
Form 8609, Low-Income Housing Credit Allocation and Certification	8609
Form 8609-A - Annual Statement for Low-Income Housing Credit	8609-A
Line 11 Worksheet
Low-Income Housing Credit Average Income Test Regulations

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ICR Summary of Burden

table that charts list of burden

	Total Request	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	33,000	30,000	3,000	0	0	0
Annual Time Burden (Hours)	428,265	414,915	13,350	0	0	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: No

Burden Reduction Due to:

Short Statement: Forms 8609 and 8609-A have previously been revised to comply with updates in current laws and regulatory requirements. In general, the substantive final regulations (TD 9967) provide significant flexibility with respect to satisfying the average income test set-aside, designating Applicable Fraction Units, and changing the imputed income limitation designations of residential units. It is this increased regulatory flexibility, however, that makes these paperwork requirements necessary. The requirements are needed to enhance administrability and certainty for the taxpayers and Agencies that will be taking advantage of the sought-for flexibility. The changes resulting from the final regulations will increase the burden by and estimated 13,350 hours.

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Annual Cost to Federal Government: $25,516

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)? No

Is this ICR related to the Pandemic Response? No

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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: 09/29/2022

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