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

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Supporting Statement-1545-2315 - Final Rule-MS kgg (004).docx	Supporting Statement A	Uploaded 2024-06-24	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
261591	Third-party disclosures under 1.45-7 and 1.45-8		Modified
261590	Recordkeeping requirements under 1.45-12		Unchanged

ICR Details

OMB Control No: 1545-2315	ICR Reference No: 202406-1545-011
Status: Active	Previous ICR Reference No: 202308-1545-007
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
OIRA Conclusion Action: Approved without change	Conclusion Date: 08/22/2024
Retrieve Notice of Action (NOA)	Date Received in OIRA: 06/26/2024
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2027	36 Months From Approved
Responses	70,070	0	0
Time Burden (Hours)	282,800	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: The Department of the Treasury (Treasury Department) and the Internal Revenue Service (IRS) are issuing TD 9998 to set forth rules for taxpayers intending to satisfy the prevailing wage and apprenticeship requirements to claim increased credit or deduction amounts under the Inflation Reduction Act of 2022. 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	Final or interim final rulemaking	89 FR 53184	06/25/2024

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 2

table that charts list of burden

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

table that charts list of burden

	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	70,070	0	70,070	0	0	0
Annual Time Burden (Hours)	282,800	0	282,800	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: These are new collections due to a new statute, the Inflation Reduction Act of 2022 (Public Law 117-169), which results in an increase of annual time burden (282,800) and respondents (70,070).

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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: 06/26/2024

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