Investment Credit

Forms and Documents

Document	Type	Status	Availability
Form 3468 Investment Credit	Form	Modified	Available
2023 SS 1545-0155.docx	Supporting Statement A	Uploaded 2023-06-26	Repair queued

IC Document Collections

IC ID	Collection	Type	Status	Form
39648	Investment Credit	Form	Modified

ICR Details

OMB Control No: 1545-0155	ICR Reference No: 202304-1545-015
Status: Received in OIRA	Previous ICR Reference No: 202212-1545-023
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Investment Credit
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 07/28/2023

	Requested	Previously Approved
Expiration Date	36 Months From Approved	07/31/2023
Responses	2,109	2,109
Time Burden (Hours)	75,017	75,017
Cost Burden (Dollars)	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.

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Authorizing Statute(s): US Code: 26 USC 48 Name of Law: Energy credit
   US Code: 26 USC 46 Name of Law: Amount of credit
   US Code: 26 USC 47 Name of Law: Rehabilitation credit
   PL: Pub.L. 117 - 167 107 Name of Law: The Creating Helpful Incentives to Produce Semiconductors (CHIPS) Act of 2022
   PL: Pub.L. 117 - 169 13102 Name of Law: Inflation Reduction Act (IRA) of 2022
  

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:
	88 FR 21749	04/11/2023
30-day Notice:	Federal Register Citation:	Citation Date:
	88 FR 48289	07/26/2023
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	3468	Investment Credit (draft 2023)

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ICR Summary 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	2,109	2,109	0	0	0	0
Annual Time Burden (Hours)	75,017	75,017	0	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:

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Annual Cost to Federal Government: $88,088

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? 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: 07/28/2023

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