IRC section 50(a) and Regulation
section 1.47 require that taxpayers attach a statement to their
return showing the computation of the recapture tax when investment
credit property is disposed of before the end of the recapture
period used in the original computation of the investment
credit.
US Code:
26
USC 50(a) Name of Law: Recapture in case of dispositions,
etc.
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:
(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;
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.