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Submission for OMB Review; Comment Request

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Start Preamble April 4, 2002.

The Department of Treasury has submitted the following public information collection requirement(s) to OMB for review and clearance under the Paperwork Reduction Act of 1995, Public Law 104-13. Copies of the submission(s) may be obtained by calling the Treasury Bureau Clearance Officer listed. Comments regarding this information collection should be addressed to the OMB reviewer listed and to the Treasury Department Clearance Officer, Department of the Treasury, Room 2110, 1425 New York Avenue, NW., Washington, DC 20220.


Written comments should be received on or before May 13, 2002 to be assured of consideration.

Internal Revenue Service (IRS)

OMB Number: 1545-0152.

Form Number: IRS Form 3115.

Type of Review: Extension.

Title: Application for Change in Accounting Method.

Description: Form 3115 is used by taxpayers who wish to change their method of computing their taxable income. The form is used by the IRS to determine if electing taxpayers have met the requirements and are able to change to the method requested.

Respondents: Business or other for-profit, individuals or households, not-for-profit institutions, farms.

Estimated Number of Respondents/Recordkeepers: 6,400.

Estimated Burden Hours Per Respondent/Recordkeeper:

FormRecordkeepingLearning about the law or the formPreparing and sending the form to the IRS
Form 311520 hr., 34 min3 hr., 15 min4 hr., 55 min.
Schedule A4 hr., 18 min1 hr., 40 min1 hr., 50 min.
Schedule B4 hr., 46 min45 min2 hr., 4 min.
Schedule C27 hr., 1 min1 hr., 39 min3 hr., 22 min.
Schedule D5 hr., 1 min1 hr., 59 min2 hr., 9 min.

Frequency of Response: On occasion, Quarterly, Other (when needed).

Estimated Total Reporting/Recordkeeping Burden: 272,062 hours.

Clearance Officer: Glenn P. Kirkland, Internal Revenue Service, Room 6411, 1111 Constitution Avenue, NW, Washington, DC 20224.

OMB Reviewer: Alexander T. Hunt, (202) 395-7860, Office of Management and Budget, Room 10202, New Executive Office Building, Washington, DC 20503.

Start Signature

Mary A. Able,

Departmental Reports, Management Officer.

End Signature End Preamble

[FR Doc. 02-8802 Filed 4-10-02; 8:45 am]