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###### Department of the Treasury

###### Internal Revenue Service 

          - [REG-104924-98] 

# 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 an existing notice of proposed rulemaking, REG-104924-98, Mark-to-Market Accounting for Dealers in Commodities and Traders in Securities or Commodities (§§ 1.475(e)-1 and 1.475 (f)-2). 

# DATES:

Written comments should be received on or before January 11, 2005 to be assured of consideration. 

# ADDRESSES:

Direct all written comments to R. Joseph Durbala, Internal Revenue Service, room 6516, 1111 Constitution Avenue NW., Washington, DC 20224. 

# FOR FURTHER INFORMATION CONTACT:

                        Requests for additional information or copies of the regulations should be directed to Carol Savage at Internal Revenue Service, room 6516, 1111 Constitution Avenue NW., Washington, DC 20224, or at (202) 622-3945, or through the Internet at                         *CAROL.A.SAVAGE@irs.gov.*

# SUPPLEMENTARY INFORMATION:

*Title:*                     Mark-to-Market Accounting for Dealers in Commodities and Traders in Securities or Commodities.                 

*OMB Number:*                     1545-1640.                 

*Regulation Project Number:*                     REG-104924-98.                 

*Abstract:*                     The collection of information in this proposed regulation is required by the Internal Revenue Service to determine whether an exemption from mark-to-market treatment is properly claimed. This information will be used to make that determination upon audit of taxpayers' books and records.                 

*Current Actions:*                     There is no change to this existing proposed regulation.                 

*Type of Review:*                     Extension of a currently approved collection.                 

*Affected Public:*                     Business or other for-profit organization and Individuals.                 

*Estimated Number of Recordkeepers:*                     1,000.                 

*Estimated Time Per Recordkeeper:*                     1 hour.                 

*Estimated Total Annual Burden Recordkeeping Hours:*                     1,000.                 

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: November 3, 2004. 

Carol Savage, 

Management and Program Analyst. 

[FR Doc. 04-25126 Filed 11-10-04; 8:45 am] 

BILLING CODE 4830-01-P