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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 Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other                               ( print page 30223)                            Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995. Currently, the IRS is soliciting comments concerning requirements respecting the adoption or change of accounting method; extensions of time to make elections.                    

# DATES:

Written comments should be received on or before August 27, 2018 to be assured of consideration.

# ADDRESSES:

Direct all written comments to Laurie Brimmer, Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224.

# FOR FURTHER INFORMATION CONTACT:

                        Requests for additional information or copies of the regulation should be directed to LaNita Van Dyke at (202) 317-6009, at Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224, or through the internet, at                         *Lanita.VanDyke@irs.gov*.                    

# SUPPLEMENTARY INFORMATION:

*Title:*                     Requirements Respecting the Adoption or Change of Accounting Method; Extensions of Time to Make Elections.                

*OMB Number:*                     1545-1488.                

*Regulation Project Number:*                     TD 8742.                

*Abstract:*                     This final regulation provides the procedures for requesting an extension of time to make certain elections, including changes in accounting method and accounting period. In addition, the regulation provides the standards that the IRS will use in determining whether to grant taxpayers extensions of time to make these elections.                

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

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

*Affected Public:*                     Business or other for-profit organizations, individuals, not-for-profit institutions, and farms.                

*Estimated Number of Respondents:*                     500.                

*Estimated Time per Respondent:*                     10 hours.                

*Estimated Total Annual Burden Hours:*                     5,000.                

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: June 20, 2018.

Laurie Brimmer,

Senior Tax Analyst.

[FR Doc. 2018-13750 Filed 6-26-18; 8:45 am]

BILLING CODE 4830-01-P