SECTION 9. PAPERWORK

REDUCTION ACT

The collections of information contained in this revenue procedure have 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 1545–1522.

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 collections of information in this revenue procedure are in sections 3.01(29), 3.02(1) and (3), 4.01(30), and 4.02(1) and (7)(b).

This information is required to evaluate whether the request for a letter ruling or determination letter is not covered by the provisions of this revenue procedure. The

seeking a natural business year or an ownership taxable year); 68–41, 1968–2 C.B. 943, as modified by Rev. Proc. 81–40, 1981–2 C.B. 604 (trusts held by certain fiduciaries needing a workload spread); and 66–50, 1966–2 C.B. 1260, as modified by Rev. Proc. 81–40 (individual seeking a calendar year).

.02 Section 446.—General Rule for Methods of Accounting.—Except as otherwise provided in the listed revenue procedures, all requests for change in method of accounting where the Service has provided an administrative procedure for obtaining a change in method of accounting. See Rev. Proc. 2002–9, 2002–3 I.R.B. 327 (accounting method changes described in the Appendix to Rev. Proc. 2002–9 involving §§ 56, 77, 162, 166, 167, 168, 171, 174, 197, 263, 263A, 267, 404, 446, 448, 451, 454, 455, 460, 461, 467, 471, 472, 475, 585, 861, 985, 1272, 1273, 1278, 1281, and former § 168), as modified and amplified by Ann. 2002–17, 2002–8 I.R.B. 561, Rev. Proc. 2002–19, 2002–13 I.R.B. 696, Rev. Proc. 2002–54, 2002–35 I.R.B. 432, Rev. Proc. 2002–65, 2002–41 I.R.B. 700 (certain taxpayers seeking to change their method of accounting for railroad track structure expenditures to the track maintenance allowance method provided in Rev. Proc. 2002–65), Rev. Rul. 2002–9, 2002–10 I.R.B. 614 (certain taxpayers seeking to change their method of accounting for impact fees), Rev. Proc. 2002–17, 2002–13 I.R.B. 676 (certain taxpayers seeking to change to the “replacement cost method” of valuing vehicle parts inventories), Rev. Proc. 2002–27, 2002–17 I.R.B. 802, (certain taxpayers seeking to change their method of accounting for depreciation of original and replacement tires of certain vehicles), Rev. Proc. 2002–33, 2002–20 I.R.B. 963 (revised sections 2.01 and 2.02 of the Appendix to reflect the depreciation provisions in §§ 168(k) and 1400L), Rev. Proc. 2002–36, 2002–21 I.R.B. 993 (certain taxpayers seeking to change their method of accounting for capital cost reduction payments), Rev. Proc. 2002–28, 2002–18 I.R.B. 815 (certain qualifying small business taxpayers seeking to change to the cash receipts and disbursements method of accounting and/or to a method of accounting for inventoriable items as nonincidental materials and supplies), Rev. Proc. 2002– 46, 2002–28 I.R.B. 105 (certain insurance

companies seeking to change their method of accounting for premium acquisition expenses), Rev. Rul. 2002–46, 2002–29 I.R.B. 117 and Rev. Rul. 2002–73, 2002–45 I.R.B. 805 (certain taxpayers seeking to change their method of accounting for employer contributions to § 401(k) plans or matching contributions to qualified defined contribution plans); Rev. Proc. 98–58, 1998–2 C.B. 710 (certain taxpayers seeking to change to the installment method of accounting under § 453 for alternative minimum tax purposes for certain deferred payment sales contracts relating to property used or produced in the trade or business of farming); Rev. Proc. 97–43, 1997–2 C.B. 494 (certain taxpayers required to change their method of accounting as a result of making elections out of certain exemptions from dealer status for purposes of § 475); Rev. Proc. 92–67, 1992–2 C.B. 429 (certain taxpayers with one or more market discount bonds seeking to make a § 1278(b) election or a constant interest rate election); Rev. Proc. 92–29, 1992–1 C.B. 748 (certain taxpayers seeking to use an alternative method under § 461(h) for including common improvement costs in basis); and Rev. Proc. 91–51, 1991–2 C.B. 779 (certain taxpayers under examination that sell mortgages and retain rights to service the mortgages).

.03 Section 461.—General Rule for Taxable Year of Deduction.—All requests for making or revoking an election under § 461 where the Service has provided an administrative procedure for making or revoking an election under § 461. See Rev. Proc. 92–29, 1992–1 C.B. 748 (dealing with the use of an alternative method for including in basis the estimated cost of certain common improvements in a real estate development).

.04 Section 1362.—Election; Revocation; Termination.—All situations in which an S corporation qualifies for automatic late S corporation relief under Rev. Proc. 97– 48, 1997–2 C.B. 521, or for automatic inadvertent termination or inadvertent invalid election relief under section 6 of Rev. Proc. 98–55, 1998–2 C.B. 643. .05 Sections 1502, 1504, and 1552.— Regulations; Definitions; Earnings and Profits.—All requests for waivers or consents on consolidated return issues where the Service has provided an administrative procedure for obtaining waivers or con

Sec. 9 2003–1 I.R.B. 121 January 6, 2003

collections of information are required to obtain a letter ruling or determination letter. The likely respondents are business or other for-profit institutions.

The estimated total annual reporting and/or recording burden is 90 hours.

The estimated annual burden per respondent/recordkeeper varies from 15 minutes to 3 hours, depending on individual circumstances, with an estimated average burden of 2 hours. The estimated number of respondents and/or recordkeepers is 45.

The estimated annual frequency of responses is on occasion.

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 § 6103.

DRAFTING INFORMATION

The principal author of this revenue procedure is Graham L. Barron of the Office of Associate Chief Counsel (Corporate). For further information about this revenue procedure, please contact Mr. Barron at (202) 622–7790 (not a toll-free call).

Sec. 9 January 6, 2003 122 2003–1 I.R.B.

26 CFR 601.201: Rulings and determination letters.

Rev. Proc. 2003–4

TABLE OF CONTENTS

SECTION 1. WHAT IS THE PURPOSE OF THIS REVENUE PROCEDURE? .................................................. 126

SECTION 2. WHAT CHANGES HAVE BEEN MADE TO REV. PROC. 2002–4? ................................................ 126