[Federal Register Volume 61, Number 33 (Friday, February 16, 1996)]
[Notices]
[Page 6294]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-3594]



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DEPARTMENT OF THE TREASURY

Agency Information Collection Activities; Comment Request

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: 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. Currently, the IRS is soliciting 
comments concerning Form 2553, Election by a Small Business 
Corporation.

DATES: Written comments should be received on or before April 16, 1996, 
to be assured of consideration.

ADDRESSES: Direct all written comments to Garrick R. Shear, Internal 
Revenue Service, room 5571, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the information collection should be directed to Martha R. 
Brinson, (202) 622-3869, Internal Revenue Service, room 5571, 1111 
Constitution Avenue NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

    Title: Election by a Small Business Corporation.
    OMB Number: 1545-0146
    Form Number: 2553.
    Abstract: Form 2553 is filed by a qualifying corporation to elect 
to be an S corporation as defined in Code section 1361. The information 
obtained is necessary to determine if the election should be accepted 
by the IRS. When the election is accepted, the qualifying corporation 
is classified as an S corporation and the corporation's income is taxed 
to the shareholders of the corporation.
    Current Actions: There are no changes being made to the form at 
this time.
    Type of Review: Extension of OMB approval.
    Affected Public: Businesses, farms.
    Estimated Number of Respondents: 500,000.
    Estimated Time Per Respondent: 12 hrs., 25 min.
    Estimated Total Annual Burden Hours: 6,205,000.
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. Written comments should 
address the accuracy of the burden estimates and ways to minimize 
burden including the use of automated collection techniques or the use 
of other forms of information technology, as well as other relevant 
aspects of the information collection request.

    Approved: February 5, 1996.
Garrick R. Shear,
IRS Reports Clearance Officer.
[FR Doc. 96-3594 Filed 2-15-96; 8:45 am]
BILLING CODE 4830-01-U