[Federal Register Volume 67, Number 98 (Tuesday, May 21, 2002)]
[Notices]
[Pages 35844-35845]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-12723]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Revenue Procedures 
2002-37, 2002-38, and 2002-39

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, Public Law 104-13 (44 U.S.C. 
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning 
Revenue Procedures 2002-37, 2002-38, 2002-39, Changes 
in Periods of Accounting.

DATES: Written comments should be received on or before July 22, 2002 
to be assured of consideration.

ADDRESSES: Direct all written comments to Glenn P. Kirkland, Internal 
Revenue Service, room 6411, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of revenue procedures should be directed to Carol Savage, (202) 
622-3945, or through the Internet 
([email protected].), Internal Revenue Service, room 6407, 
1111 Constitution Avenue NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:
    Title: Changes in Periods of Accounting.
    OMB Number: 1545-1786.
    Revenue Procedure Numbers: Revenue Procedures 2002-37, 
2002-38, and 2002-39.
    Abstract: Revenue Procedures 2002-37, 2002-38, and 
2002-39, 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.

[[Page 35845]]

    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: May 14, 2002.
Glenn P. Kirkland,
IRS Reports Clearance Officer.
[FR Doc. 02-12723 Filed 5-20-02; 8:45 am]
BILLING CODE 4830-01-P