[Federal Register Volume 67, Number 61 (Friday, March 29, 2002)]
[Notices]
[Pages 15283-15284]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-7564]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

March 21, 2002.
    The Department of Treasury has submitted the following public 
information collection requirement(s) to OMB for review and clearance 
under the Paperwork Reduction Act of 1995, Public Law 104-13. Copies of 
the submission(s) may be obtained by calling the Treasury Bureau 
Clearance Officer listed. Comments regarding this information 
collection should be addressed to the OMB reviewer listed and to the 
Treasury Department Clearance Officer, Department of the Treasury, Room 
2110, 1425 New York Avenue, NW., Washington, DC 20220.

DATES: Written comments should be received on or before April 29, 2002 
to be assured of consideration.

Internal Revenue Service

    OMB Number: 1545-1767.
    Regulation Project Number: REG-107644-98 Final.
    Type of Review: Extension.
    Title: Dollar-Value LIFO Regulations; Inventory Price Index 
Computation Method.
    Description: The primary reason for obtaining this information is 
to ensure compliance by taxpayers electing to use both the LIFO 
inventory method and the IPIC method of accounting for their

[[Page 15284]]

dollar-value inventory pools. Most respondents will be manufacturers, 
wholesalers, and retailers of tangible personal property.
    Respondents: Business or other for-profit.
    Estimated Number of Recordkeepers: 1.
    Estimated Burden Hours Per Recordkeeper: 1 hour.
    Frequency of Response: On occasion.
    Estimated Total Recordkeeping Burden: 1 hour.

    OMB Number: 1545-1769.

    Revenue Procedure Number: Revenue Procedure 2002-10.
    Type of Review: Extension.
    Title: Procedures for IRAs, SEPs and SIMPLEs IRA Plans.
    Description: The Economic Growth and Tax Relief Reconciliation Act 
of 2001 made numerous changes affecting IRAs, SEPs, and SIMPLEs IRA 
plans. These changes are effective beginning January 1, 2002, and to 
take advantage of the new law, these retirement plans must be amended 
and participants notified of the amendments. Revenue Procedure 2002-10 
provides guidance on this process and provides an extended period for 
making the amendments.
    Respondents: Business or other for-profit, individuals or 
households, not-for-profit institutions, farms.
    Estimated Number of Respondents: 378,000.
    Estimated Burden Hours Per Respondent: 20 hours.
    Frequency of Response: On occasion.

    Estimated Total Reporting Burden: 7,371,000 hours.

Clearance Officer: George Freeland, Internal Revenue Service, Room 
5577, 1111 Constitution Avenue, NW, Washington, DC 20224.
OMB Reviewer: Alexander T. Hunt (202) 395-7860, Office of Management 
and Budget, Room 10202, New Executive Office Building, Washington, DC 
20503.

Lois K. Holland,
Departmental Reports Management Officer.
[FR Doc. 02-7564 Filed 3-28-02; 8:45 am]
BILLING CODE 4830-01-P