[Federal Register Volume 68, Number 72 (Tuesday, April 15, 2003)]
[Notices]
[Pages 18328-18329]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-9215]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Revenue Procedure 97-27

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 Procedure 97-27, Changes in Methods of Accounting.

DATES: Written comments should be received on or before June 16, 2003 
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 procedure 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 Methods of Accounting.
    OMB Number: 1545-1541.
    Revenue Procedure Number: Revenue Procedure 97-27.
    Abstract: The information requested in Revenue Procedure 97-27 is 
required in order for the Commissioner to determine whether the 
taxpayer properly is requesting to change its method of accounting and 
the terms and conditions of that change.
    Current Actions: Section 13.02(2) concerned taxpayers that filed 
3115s under Revenue Procedure 97-27 on or before December 31, 1997. 
Section 13.02(3) concerned taxpayers that were within an open window 
period for filing 3115s under Revenue Procedure 92-20 on May 15, 1997. 
Since taxpayers will no longer be eligible for either provision, those 
two sections are no longer relevant
    Type of Review: Revision of a currently approved collection.
    Affected Public: Business or other for-profit organizations, 
individuals, not-for-profit institutions, and farms.
    Estimated Number of Respondents: 3,000.
    Estimated Time Per Respondent: 3 hours, 1 minute.
    Estimated Total Annual Burden Hours: 9,083.
    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

[[Page 18329]]

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: April 8, 2003.
Glenn P. Kirkland,
IRS Reports Clearance Officer.
[FR Doc. 03-9215 Filed 4-14-03; 8:45 am]
BILLING CODE 4830-01-P