SAFE HABOR LEASE INFORMATION RETURN (UNDER SECTION 168(F) (8) OF THE INTERNAL REVENUE CODE)

Forms and Documents

Document Name	Status

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

IC Document Collections

IC ID	Document Title	Status
130279	SAFE HABOR LEASE INFORMATION RETURN (UNDER SECTION 168(F) (8) OF THE INTERNAL REVENUE CODE) Form	Migrated

ICR Details

OMB Control No: 1545-0645	ICR Reference No: 198112-1545-005
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: SAFE HABOR LEASE INFORMATION RETURN (UNDER SECTION 168(F) (8) OF THE INTERNAL REVENUE CODE)
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: 12/21/1981
	Date Received in OIRA: 12/18/1981
Terms of Clearance: BECAUSE THIS IS THE FIRST TIME IRS HAS COLLECTED INFORMATION ON SAFE HARBOR LEASING ARRANGEMENTS, THERE IS NEITHER EXPERIENCE IN PREDICTING THE USEFULNESS OF A VARIETY OF THE DATA ELEMENTS NOR IS THERE ASSURANCE THAT THIS INFORMATION WILL BE COMPREHENSIVE ENOUGH FOR REPORTING PURPOSES. THEREFORE, THIS FORM IS APPROVED FOR A PERIOD ENDING ON JANUARY 31, 1983. SHOULD IRS DETERMINE THAT THIS SAME INFORMATION OR REVISED DATA ELEMENTS ARE NECESSARY TO FULFILL ITS REPORTING RESPONSIBILITIES, IT WILL SUBMIT A REQUEST TO EITHER EXTEND THE EXPIRATION DATE OF THIS FORM OR TO REVISE THIS FORM TO OMB NO LATER THAN OCTOBER 1, 1982. ANY FUTURE REQUEST SHOULD INCLUDE A FULL EXPLANATION OF THE USE OF EACH DATA ELEMENT AND THE CONSEQUENCES OF DELETING IT.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/1983	01/31/1983
Responses	40,000	0	0
Time Burden (Hours)	104,000	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: SECTION 168(F)(8) OF THE IRC ALLOWS A LESSEE AND CORPORATE LESSOR TO ELECT LEASE STATUS FOR PROPERTY. THE LESSOR THEN CLAIMS DEPRECIATION AND, USUALLY, INVESTMENT TAX CREDIT. THE INFORMATION IS NECESSARY TO DETERMINE WHETHER THE CONDITIONS FOR LEASE STATUS ARE MET AND TO EVALUATE THE EFFECTS OF THE NEW LAW.

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Authorizing Statute(s): None

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:

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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: 1

IC Title	Form No.	Form Name
SAFE HABOR LEASE INFORMATION RETURN (UNDER SECTION 168(F) (8) OF THE INTERNAL REVENUE CODE)	6793

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ICR Summary 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	40,000	0	0	40,000	0	0
Annual Time Burden (Hours)	104,000	0	0	104,000	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

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: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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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: 12/18/1981

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