[Federal Register Volume 83, Number 113 (Tuesday, June 12, 2018)]
[Notices]
[Pages 27375-27376]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-12574]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Regulation Project

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Internal Revenue Service, 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. The IRS is soliciting comments 
concerning Form 1098, Mortgage Interest Statement and TD 8571 (IA-17-
90), Reporting Requirements for Recipients of Points Paid on 
Residential Mortgages.

DATES: Written comments should be received on or before August 13, 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 this form and regulation should be directed to Sara 
Covington, at (202) 317 6038, Internal Revenue Service, Room 6526, 1111 
Constitution Avenue NW, Washington, DC 20224, or through the internet 
at <a href="/cdn-cgi/l/email-protection#4a192b382b64066409253c23242d3e25240a233839642d253c"><span class="__cf_email__" data-cfemail="33605241521d7f1d705c455a5d54475c5d735a41401d545c45">[email protected]</span></a>.

SUPPLEMENTARY INFORMATION: 
    Title: Reporting Requirements for Recipients of Points Paid on 
Residential Mortgages and Mortgage Interest Statement.
    OMB Number: 1545-1380.
    Form Number: 1098.
    Regulation Project Number: TD 8571.
    Abstract: T.D. 8571 regulations require the reporting of certain 
information relating to payments of mortgage interest. Form 1098 is 
used to report $600 or more of mortgage interest received from an 
individual in the course of the mortgagor's trade or

[[Page 27376]]

business. Taxpayers must separately state on Form 1098 the amount of 
points and the amount of interest (other than points) received during 
the taxable year on a single mortgage and must provide to the payer of 
the points a separate statement setting forth the information being 
reported to the IRS.
    Current Actions: There are no change to the form or existing 
regulation, however Form 1098 and TD 8571 have been consolidated under 
this collection.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 77,908,660.
    Estimated Time per Respondent: .23 hrs.
    Estimated Total Annual Burden Hours: 17,913,039.
    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 4, 2018.
Laurie Brimmer,
Senior Tax Analyst.
[FR Doc. 2018-12574 Filed 6-11-18; 8:45 am]
BILLING CODE 4830-01-P


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