[Federal Register Volume 74, Number 213 (Thursday, November 5, 2009)]
[Notices]
[Pages 57393-57394]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-26646]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Revenue Procedure 97-48

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 97-48, Automatic Relief for Late S Corporation 
Elections.

DATES: Written comments should be received on or before January 4, 2010 
to be assured of consideration.

ADDRESSES: Direct all written comments to R. Joseph Durbala, Internal 
Revenue Service, Room 6129, 1111 Constitution Avenue, NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of revenue procedure should be directed to Allan Hopkins at 
Internal Revenue Service, room 6129, 1111 Constitution Avenue, NW., 
Washington, DC 20224, or at (202) 622-6665, or through the Internet at 
[email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Automatic Relief for Late S Corporation Elections.
    OMB Number: 1545-1562.
    Revenue Procedure Number: Revenue Procedure 97-48.
    Abstract: The Small Business Job Protection Act of 1996 provides 
the IRS with the authority to grant relief for late S corporation 
elections. This revenue procedure provides that, in certain situations, 
taxpayers whose S corporation election was filed late can obtain relief 
by filing Form 2553 and attaching a statement explaining that the 
requirements of the revenue procedure have been met.
    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: 100.
    Estimated Time per Respondent: 1 hour.
    Estimated Total Annual Burden Hours: 100.
    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

[[Page 57394]]

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: October 15, 2009.
R. Joseph Durbala,
IRS Reports Clearance Officer.
[FR Doc. E9-26646 Filed 11-4-09; 8:45 am]
BILLING CODE 4830-01-P