RP-135308-15 (Rev. Proc. 2016-29) PRA memo

2

DEPARTMENT OF THE TREASURY

INTERNAL REVENUE SERVICE

OFFICE OF

CHIEF COUNSEL

WASHINGTON, DC 20224

MEMORANDUM FOR W:CAR:MP:FP:S

FROM: Kathleen Reed

Branch Chief, CC:ITA:7

SUBJECT: Amplification, Modification, and Superseding of Rev. Proc. 2015-14.

We originally received Office of Management and Budget (OMB) approval for Rev. Proc. 2015-14 (RP-103890-14) under control number 1545-1551. We are providing this request for approval to the OMB under the streamlined procedures under control number 1545-1551.

Rev. Proc. 2016-29 (RP-135308-15) updates Rev. Proc. 2015-14. We request that Rev. Proc. 2016-29, containing the List of Automatic Changes, be submitted for approval to the OMB under the streamlined procedures under control number 1545-1551. Rev. Proc. 2016-29 continues to have the same Paperwork Reduction Act burdens as previously identified under control number 1545-1551 that relate to Rev. Proc. 2015-14 and its earlier revenue procedures.

We originally received OMB approval for Rev. Proc. 97-36, Rev. Proc. 97-37, Rev. Proc. 97-38, and Rev. Proc. 97-39 on July 30, 1997, under control number 1545-1551. The automatic method change revenue procedure has been revised under control number 1545-1551 as follows: on December 21, 1998, Rev. Proc. 97-37 was revised and reissued as Rev. Proc. 98-60; on December 27, 1999, Rev. Proc. 98-60 was revised and reissued as Rev. Proc. 99-49; on January 8, 2002, Rev. Proc. 99-49 was revised and reissued as Rev. Proc. 2002-9; on August 5, 2008, Rev. Proc. 2002-9 was revised and reissued as Rev. Proc. 2008-52; on August 27, 2009, Rev. Proc. 2008-52 was amplified, clarified, and modified by Rev. Proc. 2009-39; on September 4, 2009, Rev. Proc. 2009-39 was modified by Announcement 2009-67 which reduced some burden calculations that were disclosed in the PRA analysis for Rev. Proc. 2009-39; on January 10, 2011, Rev. Proc. 2008-52 was revised as Rev. Proc. 2011-14; and on February 2, 2015, the APPENDIX of Rev. Proc. 2011-14 was revised and published as Rev. Proc. 2015-14.

The following revenue procedures modified Rev. Proc. 2015-14, also under control number 1545-1551: Rev. Proc. 2015-20, 2015-9 I.R.B. 694, released on February 13, 2015; Rev. Proc. 2015-39, 2015-33 I.R.B. 195, released on July 30, 2015; and Rev. Proc. 2015-56, 2015-49 I.R.B. 827, released on November 19, 2015. None of these revenue procedures that modified Rev. Proc. 2015-14 increased the burden for respondents. Now, Rev. Proc. 2015-14 will be amplified and modified, and as clarified and modified, will be superseded in part. In general, the List of Automatic Changes continues to consist of a compilation of many changes in methods of accounting. No PRA analysis is required for any of the changes made by Rev. Proc. 2016-29.

Thank you for your attention to this matter. Please contact me at (202) 317-4660 with any questions or comments.

Rev. Proc. 2016-29 burden calculations:

Existing burden for Rev. Proc. 2015-14:

Existing Burden

Rev. Proc. 2011-14 14,130 respondents 15,359.69 hrs

Rev. Proc. 2012-19 7,330 respondents 9,162.50 hrs

Rev. Proc. 2012-20 1,600 respondents 1,200.00 hrs

Rev. Proc. 2014-16 7,330 respondents 9,162.50 hrs

Rev. Proc. 2014-17 1,600 respondents 1,200.00 hrs

Rev. Proc. 2014-54 1,600 respondents 1,200.00 hrs

Rev. Proc. 2015-14 338 respondents 209.00 hrs

Less*: moved to RP-137461-10 6,592.50 respondents 6,914.50 hrs

Total: 27,335.50 respondents 30,579.19 hrs

Burdens created by Rev. Proc. 2016-29: None

New Total: 27,335.50 respondents 30,579.19 hrs

*This burden represents the burdens attributable to the procedural rules in Rev. Proc. 2011-14 and its earlier superseded revenue procedures that have been moved to RP-137461-10 (Rev. Proc. 2015-13), such that the PRA burden was moved to control number 1545-1541.