[Federal Register Volume 68, Number 19 (Wednesday, January 29, 2003)]
[Notices]
[Page 4543]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-2025]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

January 17, 2003.
    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, Pub. L. 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 
11000, 1750 Pennsylvania Avenue, NW., Washington, DC 20220.

DATES: Written comments should be received on or before February 28, 
2003 to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-1146.
    Regulation Project Number: PS-54-89 Final.
    Type of Review: Extension.
    Title: Applicable Conventions Under the Accelerated Cost Recovery 
System.
    Description: The regulations describe the time and manner of making 
the notation required to be made on Form 4562 under certain 
circumstances when the taxpayer transfers property in certain non-
recognition transactions. The information is necessary to monitor 
compliance with the section 168 rules.
    Respondents: Business or other for-profit, Farms.
    Estimated Number of Respondents: 700.
    Estimated Burden Hours Per Respondent: 6 minutes.
    Frequency of Response: On occasion, Annually.
    Estimated Total Reporting Burden: 700 hours.

    OMB Number: 1545-1290.
    Regulation Project Number: FI-81-86 Final.
    Type of Review: Extension.
    Title: Bad Debt Reserves of Banks.
    Description: Section 585(copyright) of the Internal Revenue Code 
requires large banks to change from the reserve method of accounting to 
the specific charge off method of accounting for bad debts. The 
information required by section 1.585-8 of the regulations identifies 
any election made or revoked by the taxpayer in accordance with section 
585(c).
    Respondents: Business or other for-profit.
    Estimated Number of Respondents: 2,500.
    Estimated Burden Hours Per Respondent: 15 minutes.
    Frequency of Response: Annually.
    Estimated Total Reporting Burden: 625 hours.
    Clearance Officer: Glenn Kirkland, (202) 622-3428, Internal Revenue 
Service, Room 6411-03, 1111 Constitution Avenue, NW., Washington, DC 
20224.
    OMB Reviewer: Joseph F. Lackey, Jr., (202) 395-7316, Office of 
Management and Budget, Room 10235, New Executive Office Building, 
Washington, DC 20503.

Mary A. Able,
Departmental Reports Management Officer.
[FR Doc. 03-2025 Filed 1-28-03; 8:45 am]
BILLING CODE 4830-01-P