Document Headings

                    Document headings vary by document type but may contain                    the following:                  
                -                       the agency or agencies that issued and signed a document                    
                -                       the number of the CFR title and the number of each part                      the document amends, proposes to amend, or is directly                      related to                    
                -                       the agency docket number / agency internal file number                    
                -                       the RIN which identifies each regulatory action listed in                      the Unified Agenda of Federal Regulatory and Deregulatory                      Actions                    

                    See the                                          Document Drafting Handbook                                        for more details.                  

###### Department of the Treasury

###### Internal Revenue Service

# 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 Revenue Procedure 2003-45, Late Election Relief for S Corporations, and Revenue Procedure 2004-48, Deemed Corporate Election for Late Electing S Corporations.

# DATES:

Written comments should be received on or before February 14, 2011 to be assured of consideration.

# ADDRESSES:

Direct all written comments to Allan Hopkins, Internal Revenue Service, Room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224.

# FOR FURTHER INFORMATION CONTACT:

                        Requests for additional information or copies of the revenue procedures should be directed to Elaine Christophe, at Internal Revenue Service, Room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224, or at (202) 622-3179, or through the Internet at                         *Elaine.H.Christophe@irs.gov.*

# SUPPLEMENTARY INFORMATION:

*Title:*                     Revenue Procedure 2003-45, Late Election Relief for S Corporations, and Revenue Procedure 2004-48, Deemed Corporate Election for Late Electing S Corporations.                

*OMB Number:*                     1545-1548. Revenue Procedure Number: Revenue Procedure 2003-45 and Revenue Procedure 2004-48.                

*Abstract:*                     Revenue Procedure 2003-45 provides a simplified method for taxpayers to request relief for late S corporation elections, Electing Small Business Trust (ESBT) elections, Qualified Subchapter S Subsidiary (QSub) elections. Generally, this revenue procedure provides that certain eligible entities may be granted relief for failing to file these elections in a timely manner if the request for relief is filed with 24 months of the due date of the election. Revenue Procedure 2004-48 provides a simplified method for taxpayers to request relief for a late S corporation election and a late corporate classification election which was intended to be effective on the same date that the S corporation election was intended to be effective.                

*Current Actions:*                     There are no changes being made to these revenue procedures at this time.                

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

*Affected Public:*                     Business or other for-profit organizations.                

*Estimated Number of Respondents:*                     50,000.                

*Estimated Average Time per Respondent:*                     1 hour.                

*Estimated Total Annual Burden Hours:*                     50,000.                

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: December 7, 2010.

Allan Hopkins,

IRS Reports Clearance Officer.

[FR Doc. 2010-31589 Filed 12-15-10; 8:45 am]

BILLING CODE 4830-01-P