[Federal Register Volume 68, Number 3 (Monday, January 6, 2003)]
[Notices]
[Page 609]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-204]



[[Page 609]]

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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Revenue Procedure 96-53

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, Pub. L. 104-13(44 U.S.C. 
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning 
Revenue Procedure 96-53, Section 482--Allocations Between Related 
Parties.

DATES: Written comments should be received on or before March 7, 2003 
to be assured of consideration.

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

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the form and instructions should be directed to Allan 
Hopkins, (202) 622-6665, or through the Internet 
([email protected]), Internal Revenue Service, room 6407, 1111 
Constitution Avenue NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:
    Title: Sec. 482--Allocations Between Related Parties.
    OMB Number: 1545-1503. Revenue Procedure Number: Revenue Procedure 
96-53.
    Abstract: The information requested in this revenue procedure is 
required to enable the Internal Revenue Service to give advice on 
filing Advance Pricing Agreement applications, to process such 
applications and negotiate agreements, and to verify compliance with 
the agreements and whether the agreements require modification.
    Current Actions: There are no changes being made to the revenue 
procedure at this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 160.
    Estimated Time Per Respondent: 32 hours, 49 minutes.
    Estimated Total Annual Burden Hours: 5,250.
    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: December 30, 2002.
Carol Savage,
Program Analyst.
[FR Doc. 03-204 Filed 1-3-03; 8:45 am]
BILLING CODE 4830-01-P