SECTION 5. PAPERWORK

REDUCTION ACT

The collection of information contained in this revenue procedure has been reviewed and approved by the Office of Management and Budget in accordance with the Paperwork Reduction Act (44 U.S.C. 3507) under control number 1545–1578. 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 control number.

The collection of information in this revenue procedure is in the section headed Procedures and Requirements for Making the § 646 Election. This information is required to be submitted in order to

make the § 646 election. The likely respondents are trusts and estates.

The estimated total reporting burden is 5,000 hours. The estimated average burden per respondent is .5 hours. The estimated number of respondents is 10,000.

The estimated frequency of responses is twice.

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.

DRAFTING INFORMATION

The principal author of this revenue procedure is Eliana Dolgoff of the Office of Assistant Chief Counsel (Passthroughs and Special Industries). For further information regarding this revenue procedure, contact Eliana Dolgoff at (202) 622-3060 (not a toll-free call).

26 CFR 601.601: Rules and regulations. (Also Part I, §§ 401; 1.401(b)–1.)

Rev. Proc. 98–14