[Federal Register Volume 67, Number 141 (Tuesday, July 23, 2002)]
[Notices]
[Page 48250]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-18570]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

July 16, 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 August 22, 
2002, to be assured of consideration.
    Internal Revenue Service (IRS)
    OMB Number: 1545-1398.
    Form Number: IRS Form 9620.
    Type of Review: Extension.
    Title: Race and National Origin Identification.
    Description: Form 9620 is an optically scannable form that is used 
to collect race and national origin data on all IRS employees and new 
hires. The form is a valuable tool in allowing the IRS to meet its 
diversity/EEO goals and as a component of its referral and tracking 
system and recruitment program.
    Respondents: Individuals or households, Federal Government.
    Estimated Number of Respondents: 50,000.
    Estimated Burden Hours Per Respondent: 3 minutes.
    Frequency of Response: Semi-annually, Annually.
    Estimated Total Reporting Burden: 2,500 hours.

    OMB Number: 1545-1488.
    Regulation Project Number: REG-209837-96 Final.
    Type of Review: Extension.
    Title: Requirements Respecting the Adoption or Change of Accounting 
Method; Extensions of Time To Make Elections.
    Description: The regulations provide the standards the Commissioner 
will use to determine whether to grant an extension of time to make 
certain elections.
    Respondents: Individuals or households, Business or other for-
profit, Not-for-profit institutions, Farms.
    Estimated Number of Respondents: 500.
    Estimated Burden Hours Per Respondent: 10 hours.
    Frequency of Response: On occasion.
    Estimated Total Reporting Burden: 5,000 hours.

    OMB Number: 1545-1591.
    Regulation Project Number: REG-251701-96 Final.
    Type of Review: Extension.
    Title: Electing Small Business Trusts.
    Description: The regulations provide the rules for an electing 
small business trust (ESBT), which is a permitted shareholder of an S 
corporation. With respect to the collections of information, the 
regulations provide the rules for making an ESBT election, and the 
rules for converting from a qualified subchapter S trust (QSST) to an 
ESBT and the conversion of an ESBT to a QSST. The regulations allow 
certain S corporations to reinstate their previous taxable year that 
was terminated under Sec. 1.444-2T by filing Form 8716.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents: 7,500.
    Estimated Burden Hours Per Respondent: 1 hour.
    Frequency of Response: On occasion, Other (once).
    Estimated Total Reporting Burden: 7,500 hours.

    OMB Number: 1545-1658.
    Regulation Project Number: REG-107069-97 Final.
    Type of Review: Extension.
    Title: Purchase Price Allocations in Deemed Actual Asset 
Acquisitions.
    Description: Section 338 of the Internal Revenue Code provides 
rules under which a qualifying stock acquisition is treated as an asset 
acquisition (as ``deemed asset acquisition'') when an appropriate 
election is made.
    Respondents: Business or other for-profit, Farms.
    Estimated Number of Respondents: 45.
    Estimated Burden Hours Per Respondent: 34 minutes.
    Frequency of Response: On occasion.
    Estimated Total Reporting Burden: 25 hours.

    OMB Number: 1545-1784.
    Revenue Procedure Number: Revenue Procedure 2002-32.
    Type of Review: Extension.
    Title: Waiver of 60-month Bar on Reconsolidation After 
Disaffiliation.
    Description: Pursuant to Sec. 1504(a)(3)(B) of the Internal Revenue 
Code, this procedure grants certain taxpayers a waiver of the general 
rule of Sec. 1504(a)(3)(A) barring a corporation from filing a 
consolidated return with a group of which it had ceased to be a member 
for 60 months following the year of disaffiliation.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents: 20.
    Estimated Burden Hours Per Respondent: 5 hours.
    Frequency of Response: On occasion.
    Estimated Total Reporting Burden: 100 hours.
    Clearance Officer: Glenn Kirkland, Internal Revenue Service, Room 
6411-03, 1111 Constitution Avenue, NW, Washington, DC 20224, (202) 622-
3428.
    OMB Reviewer: Joseph F. Lackey, Jr., Office of Management and 
Budget, Room 10235, New Executive Office Building, Washington, DC 
20503, (202) 395-7316.

Lois K. Holland,
Departmental Reports Management Officer.
[FR Doc. 02-18570 Filed 7-22-02; 8:45 am]
BILLING CODE 4830-01-P