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(30), 3.02(1) and (3), 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 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.

cost reduction payments); Rev. Proc. 2002–28, 2002–1 C.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, 2002–2 C.B. 105 (certain insurance companies seeking to change their method of accounting for premium acquisition expenses); Rev. Rul. 2002–46, 2002–2 C.B. 117; and Rev. Rul. 2002–73, 2002–2 C.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. 2002–74, 2002–2 C.B. 980 (certain changes in an insurance company’s method of discounting unpaid losses and estimated salvage recoverable); Rev. Rul. 2003–3, 2003–1 C.B. 252 (certain changes related to the accrual of refunds of state or local income or franchise taxes); Rev. Proc. 2003–20, 2003–1 C.B. 445 (certain changes related to motor vehicle parts cores); Notice 2003–36, 2003–1 C.B. 992; and Notice 2003–59, 2003–35 I.R.B. 429 (certain changes to the simplified service cost or simplified production methods); Rev. Proc. 2003–45, 2003–27 I.R.B. 11 (certain changes within the inventory price index computation (IPIC) method); Treas. Reg. § 1.448–1(h) (certain changes to overall accrual method or special method of accounting); Treas. Reg. § 1.448–2T (automatic changes relating to the nonaccrual experience method); 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 im

provement 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).

.04 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).

.05 Section 704(c).—Contributed Property.—Requests from Qualified Master Feeder Structures, as described in section 4.02 of Rev. Proc. 2001–36, 2001–1 C.B. 1326, for permission to aggregate built-in gains and losses from contributed qualified financial assets for purposes of making § 704(c) and reverse § 704(c) allocations.

.06 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.

.07 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 consents on consolidated return issues. See Rev. Procs. 2002–32, 2002–1 C.B. 959 (certain corporations seeking reconsolidation within the 5-year period specified in § 1504(a)(3)(A)); 90–39, 1990–2 C.B. 365 (certain affiliated groups of corporations seeking, for earnings and profits determinations, to make an election or a change in their method of allocating the group’s consolidated federal income tax liability); and 89–56, 1989–2 C.B. 643 (certain affiliated groups of corporations seeking to file a consolidated return where member(s) of the group use a 52–53 week taxable year).