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###### 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 2000-37; Reverse Like-Kind Exchanges (modified by Revenue Procedure 2004-51).

# DATES:

Written comments should be received on or before November 30, 2009 to be assured of consideration.

# ADDRESSES:

Direct all written comments to R. Joseph Durbala, Internal Revenue Service, room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224.

# FOR FURTHER INFORMATION CONTACT:

                        Requests for additional information or copies of revenue procedure should be directed to Allan Hopkins at Internal Revenue Service, room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224, or at (202) 622-6665, or through the Internet at                         *Allan.M.Hopkins@irs.gov*.                    

# SUPPLEMENTARY INFORMATION:

*Title:*                     Reverse Like-Kind Exchanges.                

*OMB Number:*                     1545-1701.                

*Revenue Procedure Number:*                     Revenue Procedure 2000-37 (modified by RP 2004-51).                

*Abstract:*                     Revenue Procedure 2000-37 provides a safe harbor for reverse like-kind exchanges in which a transaction using a “qualified exchange accommodation arrangement” will qualify for non-recognition treatment under section 1031 of the Internal Revenue Code. Revenue Procedure 2004-51 modifies sections 1 and 4 of Rev. Proc. 2000-37, 2000-2 C.B. 308, to provide that Rev. Proc. 2000-37 does not apply if the taxpayer owns the property intended to qualify as replacement property before initiating a qualified exchange accommodation arrangement (QEAA).                          ( print page 49913)    

*Current Actions:*                     There are no changes being made to burden previously approved by OMB.                

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

*Affected Public:*                     Individuals or households, business or other for-profit organizations, and farms.                

*Estimated Number of Respondents:*                     1,600.                

*Estimated Time per Respondent:*                     2 hours.                

*Estimated Total Annual Burden Hours:*                     3,200.                

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: September 22, 2009.

R. Joseph Durbala,

IRS Reports Clearance Officer.

[FR Doc. E9-23394 Filed 9-28-09; 8:45 am]

BILLING CODE 4830-01-P