Proposed Collection; Comment Request for Revenue Procedure 2003-45 and Revenue Procedure 2004-48, 78804 [2010-31589]

Download as PDF 78804 Federal Register / Vol. 75, No. 241 / Thursday, December 16, 2010 / Notices electronic media using industryaccepted techniques, and in accordance with applicable FMS policies regarding the retention and disposal of fiscal or financial agency records. Paper records are destroyed in accordance with fiscal or financial agency archive and disposal procedures and applicable FMS policies regarding the retention and disposal of fiscal agency records. SYSTEM MANAGER(S) AND ADDRESS: Agency Enterprise Solutions Division, Payment Management, Financial Management Service, 401 14th Street, SW., Washington, DC 20227. NOTIFICATION PROCEDURE: Inquiries under the Privacy Act of 1974, as amended, shall be addressed to the Disclosure Officer, Financial Management Service, 401 14th Street, SW., Washington, DC 20227. All individuals making inquiries should provide with their request as much descriptive matter as is possible to identify the particular record desired. The system manager will advise as to whether FMS maintains the records requested by the individual. RECORD ACCESS PROCEDURES: Individuals requesting information under the Privacy Act of 1974, as amended, concerning procedures for gaining access to or contesting records should write to the Disclosure Officer. All individuals are urged to examine the rules of the U.S. Department of the Treasury published in 31 CFR part 1, subpart C, and appendix G, concerning requirements of this Department with respect to the Privacy Act of 1974, as amended. CONTESTING RECORD PROCEDURES: See ‘‘Record access procedures’’ above. RECORD SOURCE CATEGORIES: Information in this system is provided by commercial database providers based on publicly available information. EXEMPTIONS CLAIMED FOR THE SYSTEM: None. [FR Doc. 2010–31534 Filed 12–15–10; 8:45 am] BILLING CODE 4810–35–P srobinson on DSKHWCL6B1PROD with NOTICES DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Revenue Procedure 2003– 45 and Revenue Procedure 2004–48 Internal Revenue Service (IRS), Treasury. AGENCY: VerDate Mar<15>2010 18:00 Dec 15, 2010 Jkt 223001 Notice and request for comments. ACTION: 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 2003–45, Late Election Relief for S Corporations, and Revenue Procedure 2004–48, Deemed Corporate Election for Late Electing S Corporations. SUMMARY: Written comments should be received on or before February 14, 2011 to be assured of consideration. DATES: Direct all written comments to Allan Hopkins, Internal Revenue Service, Room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224. ADDRESSES: FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the revenue procedures should be directed to Elaine Christophe, at Internal Revenue Service, Room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224, or at (202) 622– 3179, or through the Internet at Elaine.H.Christophe@irs.gov. SUPPLEMENTARY INFORMATION: Title: Revenue Procedure 2003–45, Late Election Relief for S Corporations, and Revenue Procedure 2004–48, Deemed Corporate Election for Late Electing S Corporations. OMB Number: 1545–1548. Revenue Procedure Number: Revenue Procedure 2003–45 and Revenue Procedure 2004– 48. Abstract: Revenue Procedure 2003–45 provides a simplified method for taxpayers to request relief for late S corporation elections, Electing Small Business Trust (ESBT) elections, Qualified Subchapter S Subsidiary (QSub) elections. Generally, this revenue procedure provides that certain eligible entities may be granted relief for failing to file these elections in a timely manner if the request for relief is filed with 24 months of the due date of the election. Revenue Procedure 2004–48 provides a simplified method for taxpayers to request relief for a late S corporation election and a late corporate classification election which was intended to be effective on the same date that the S corporation election was intended to be effective. PO 00000 Frm 00138 Fmt 4703 Sfmt 4703 Current Actions: There are no changes being made to these revenue procedures at this time. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations. Estimated Number of Respondents: 50,000. Estimated Average Time per Respondent: 1 hour. Estimated Total Annual Burden Hours: 50,000. 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 7, 2010. Allan Hopkins, IRS Reports Clearance Officer. [FR Doc. 2010–31589 Filed 12–15–10; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for HCTC Program Forms Internal Revenue Service (IRS), Treasury. AGENCY: E:\FR\FM\16DEN1.SGM 16DEN1

Agencies

[Federal Register Volume 75, Number 241 (Thursday, December 16, 2010)]
[Notices]
[Page 78804]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-31589]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Revenue Procedure 2003-
45 and Revenue Procedure 2004-48

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

-----------------------------------------------------------------------

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 2003-45, Late Election Relief for S Corporations, and 
Revenue Procedure 2004-48, Deemed Corporate Election for Late Electing 
S Corporations.

DATES: Written comments should be received on or before February 14, 
2011 to be assured of consideration.

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

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the revenue procedures should be directed to Elaine 
Christophe, at Internal Revenue Service, Room 6129, 1111 Constitution 
Avenue, NW., Washington, DC 20224, or at (202) 622-3179, or through the 
Internet at Elaine.H.Christophe@irs.gov.

SUPPLEMENTARY INFORMATION: 
    Title: Revenue Procedure 2003-45, Late Election Relief for S 
Corporations, and Revenue Procedure 2004-48, Deemed Corporate Election 
for Late Electing S Corporations.
    OMB Number: 1545-1548. Revenue Procedure Number: Revenue Procedure 
2003-45 and Revenue Procedure 2004-48.
    Abstract: Revenue Procedure 2003-45 provides a simplified method 
for taxpayers to request relief for late S corporation elections, 
Electing Small Business Trust (ESBT) elections, Qualified Subchapter S 
Subsidiary (QSub) elections. Generally, this revenue procedure provides 
that certain eligible entities may be granted relief for failing to 
file these elections in a timely manner if the request for relief is 
filed with 24 months of the due date of the election. Revenue Procedure 
2004-48 provides a simplified method for taxpayers to request relief 
for a late S corporation election and a late corporate classification 
election which was intended to be effective on the same date that the S 
corporation election was intended to be effective.
    Current Actions: There are no changes being made to these revenue 
procedures at this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 50,000.
    Estimated Average Time per Respondent: 1 hour.
    Estimated Total Annual Burden Hours: 50,000.
    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 7, 2010.
Allan Hopkins,
IRS Reports Clearance Officer.
[FR Doc. 2010-31589 Filed 12-15-10; 8:45 am]
BILLING CODE 4830-01-P

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