Increased Credit or Deduction Amounts for Satisfying Certain Prevailing Wage and Registered Apprenticeship Requirements

Forms and Documents

Document Name	Status
REG-100908-23_Supporting Statement-1545-XXXX .docx Supporting Statement A	2023-08-30

IC Document Collections

IC ID	Document Title	Status
261591	Third-party disclosures under 1.45-7 and 1.45-8	New
261590	Recordkeeping requirements under 1.45-12	New

ICR Details

OMB Control No:	ICR Reference No: 202308-1545-007
Status: Received in OIRA	Previous ICR Reference No:
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Increased Credit or Deduction Amounts for Satisfying Certain Prevailing Wage and Registered Apprenticeship Requirements
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 08/30/2023

	Requested	Previously Approved
Expiration Date	36 Months From Approved
Responses	70,070	0
Time Burden (Hours)	142,800	0
Cost Burden (Dollars)	0	0

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Abstract: The Department of the Treasury (Treasury Department) and the Internal Revenue Service (IRS) are issuing the notice of proposed rulemaking (NPRM) to set forth proposed rules for taxpayers intending to satisfy the prevailing wage and apprenticeship requirements to claim increased credit or deduction amounts under Code sections 30C, 45, 45L, 45Q, 48, 48C, and 179D. The information collected at the time of filing will be used by the IRS for validation of the increased portion of the credit or deduction amounts claimed by a taxpayer on a return. The likely respondents are individual, business, trust and estate filers, and tax exempt organizations.

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Authorizing Statute(s): PL: Pub.L. 117 - 169 1818 Name of Law: Inflation Reduction Act of 2022 (IRA)
  

Citations for New Statutory Requirements: PL: Pub.L. 117 - 169 1818 Name of Law: Inflation Reduction Act of 2022 (IRA)

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1545-BQ54	Proposed rulemaking	88 FR 60018	08/30/2023

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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: 2

IC Title	Form No.	Form Name
Recordkeeping requirements under 1.45-12
Third-party disclosures under 1.45-7 and 1.45-8

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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	70,070	0	70,070	0	0	0
Annual Time Burden (Hours)	142,800	0	142,800	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: This is a new collection due to the amendment of Code sections 30C, 45, 45L, 45Q, 48, 48C, and 179D and the enactment of new Code sections 45U, 45V, 45Y, 45Z, and 48E. The proposed regulations would include reporting requirements that taxpayers provide a statement with the tax return that claims an increased credit or deduction amount that includes aggregate information as detailed in §1.45-12 and would include requirements to keep records sufficient to demonstrate that PWA requirements have been met. This requirement results in an increase in burden of 2,800 hours and 70 respondents (40 hours each). The proposed regulations would include third-party disclosures that include notifying laborers and mechanics of the applicable prevailing wage rates as detailed in §1.45-7. The proposed regulations would also include third party disclosures for taxpayers requesting the dispatch of apprentices from a registered apprenticeship program as detailed in §1.45-8. This requirement results in an increase in burden of 140,000 hours and 70,000 respondents (40 hours each). The total overall burden for this collection due to new statute is 142,800 hours and 70,070 respondents and responses.

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Annual Cost to Federal Government: $0

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.     No

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: 08/30/2023

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