[Federal Register Volume 81, Number 109 (Tuesday, June 7, 2016)]
[Notices]
[Pages 36654-36655]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-13435]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Revenue Procedure 2016-
29.
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 2016-29, Changes in accounting periods and methods of
accounting.
DATES: Written comments should be received on or before August 8, 2016
to be assured of consideration.
ADDRESSES: Direct all written comments to Tuawana Pinkston, Internal
Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington,
DC 20224.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies should be directed to Sara Covington at Internal Revenue
Service, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224,
or through the internet at [email protected].
SUPPLEMENTARY INFORMATION:
Title: Changes in accounting periods and in methods of accounting.
OMB Number: 1545-1551.
Revenue Procedure Number: Revenue Procedure 2016-29.
Abstract: The information collected in the revenue procedure is
required in order for the Commissioner to determine whether the
taxpayer properly is requesting to change its method of accounting and
the terms and conditions of the change.
Current Actions: Revenue Procedure 2016-29 provides the list of
automatic changes to which the automatic change procedures in Rev.
Proc. 2015-13, 2015-5 I.R.B. 419, as clarified and modified by Rev.
Proc. 2015-33, 2015-24 I.R.B. 1067,and as modified by Rev. Proc. 2016-
1, 2016-1 I.R.B.1 (or successor) apply.
Type of Review: Revision of a currently approved collection.
Affected Public: Individuals or households, business or other for-
profit organizations, not-for-profit institutions, and farms.
Estimated Number of Respondents: 27,336.
Estimated Time per Respondent: 1 hour, 15 minutes.
Estimated Total Annual Burden Hours: 30,580.
The following paragraph applies to all 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,
[[Page 36655]]
maintenance, and purchase of services to provide information.
Approved: May 31, 2016.
Sara Covington,
IRS Tax Analyst.
[FR Doc. 2016-13435 Filed 6-6-16; 8:45 am]
BILLING CODE 4830-01-P