Proposed Collection; Comment Request for Revenue Procedures 2002-39, 2006-45 (Previous 2002-37), and 2006-46 (Previous 2002-38)
The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning Revenue Procedures 2002-39, 2006-45, 2006-46, Changes in Periods of Accounting.
Written comments should be received on or before June 30, 2008, to be assured of consideration.
Direct all written comments to R. Joseph Durbala, Internal Revenue Service, room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224.
For further information contact:
Requests for additional information or copies of revenue procedures should be directed to Carolyn N. Brown, (202) 622-6688, Internal Revenue Service, room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224, or through the internet at Carolyn.N.Brown@irs.gov.
Title: Changes in Periods of Accounting.
Revenue Procedure Numbers: Revenue Procedures 2002-39, 2006-45, and 2006-46.
Abstract: Revenue Procedures 2002-39, 2006-45, and 2006-46, provide the comprehensive administrative rules and guidance, for affected taxpayers adopting, changing, or retaining annual accounting periods, for federal income tax purposes. In order to determine whether a taxpayer has properly adopted, changed to, or retained an annual accounting period, certain information regarding the taxpayer's qualification for and use of the requested annual accounting period is required. The revenue procedures request the information necessary to make that determination when the information is not otherwise available.
Current Actions: There are no changes being made to these revenue procedures at this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organization, individuals, not-for-profit institutions and farms.
Estimated Number of Respondents:800
Estimated Average Time per Respondent:53 minutes.
Estimated Total Annual Burden Hours:700.
Also, the burden is reflected in the burdens of Forms 1128 and 2553.
The following paragraph applies to all of the collections of information covered by this notice:
An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless the collection of information displays a valid OMB control number. Books or records relating to a collection of information must be retained as long as their contents may become material in the administration of any internal revenue law. Generally, tax returns and tax return information are confidential, as required by 26 U.S.C. 6103.
Request for Comments: Comments submitted in response to this notice will be summarized and/or included in the request for OMB approval. All comments will become a matter of public record. Comments are invited on: (a) Whether the collection of information is necessary for the proper performance of the functions of the agency, including whether the information shall have practical utility; (b) the accuracy of the agency's estimate of the burden of the collection of information; (c) ways to enhance the quality, utility, and clarity of the information to be collected; (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology; and (e) estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information.Approved: April 24, 2008. R. Joseph Durbala, IRS Reports Clearance Officer.