[Federal Register Volume 84, Number 105 (Friday, May 31, 2019)]
[Notices]
[Pages 25334-25335]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-11377]


=======================================================================
-----------------------------------------------------------------------

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.

-----------------------------------------------------------------------

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 
continuing information collections, as required by the Paperwork 
Reduction Act of 1995. The IRS is soliciting comments concerning 
mortgage interest and reporting requirements for recipients of points 
paid on residential mortgages.

DATES: Written comments should be received on or before July 30, 2019 
to be assured of consideration.

ADDRESSES: Direct all written comments to Laurie Brimmer, Internal 
Revenue Service, Room 6529, 1111 Constitution Avenue NW, Washington, DC 
20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the form should be directed to Christina Leeper at (737) 800-
7783, at Internal Revenue Service, 3651 S International Highway 35, 
Austin, TX 78741, or through the internet, at 
[email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Reporting Requirements for Recipients of Points Paid on 
Residential

[[Page 25335]]

Mortgages and Mortgage Interest Statement.
    OMB Number: 1545-1380.
    Form Number: Form 1098.
    Regulation Project Number: TD 8571.
    Abstract: The regulation requires the reporting of certain 
information relating to payments of mortgage interest. The form is used 
to report $600 or more of mortgage interest received from an individual 
in the course of the mortgagor's trade or business. Taxpayers must 
separately state on the form 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 changes to the form or existing 
regulation, however the agency has updated the number of respondent 
estimates based on current data.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 80,650,960.
    Estimated Time per Respondent: .23 hours.
    Estimated Total Annual Burden Hours: 20,131,656.
    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: May 28, 2019.
Laurie Brimmer,
Senior Tax Analyst.
[FR Doc. 2019-11377 Filed 5-30-19; 8:45 am]
BILLING CODE 4830-01-P