The Internal Revenue Service suspended
certain requirements under § 42 of the Internal Revenue Code for
low-income housing credit projects to provide emergency housing
relief needed as a result of the devastation caused by severe
storms and tornadoes in the State of Oklahoma beginning May 18,
2013. This relief was granted pursuant to the Service's authority
under § 42(n) and § 1.42-13(a) of the Income Tax Regulations. The
last day of the Temporary Housing Period was May 31, 2014. This
date falls within an open year (a tax year for which the statute of
limitations has not yet expired). The project managers have a
requirement to maintain the records, previously generated, to
fulfill the record keeping requirement for the 2014 tax year which,
filed by the due date would expire on April 16, 2018. Once the
record-retention period has passed in April 2018, this information
collection request will be discontinued.
US Code:
26 USC
42 Name of Law: Low-income housing credit.
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.