Document
Proposed Collection; Comment Request Relating to FHA Loan Limits To Determine Average Area Purchase Prices
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 oppo...
SUPPLEMENTARY INFORMATION:
Title:
Average Area Purchase Price Safe Harbors and Nationwide Purchase Prices under section 143.
OMB Number:
1545-1877.
Regulatory Number:
Revenue Procedure 2022-17.
Abstract:
The revenue procedure under this collection provides issuers of qualified mortgage bonds, as defined in section 143(a) of the Internal Revenue Code (Code), and issuers of mortgage credit certificates, as defined in section 25(c), with (1) the nationwide average purchase price for residences located in the United States, and (2) average area purchase price safe harbors for residences located in statistical areas in each state, the District of Columbia, Puerto Rico, the Northern Mariana Islands, American Samoa, the Virgin Islands, and Guam.
Current Actions:
There are no changes to burden.
Type of Review:
Extension of a currently approved collection.
Affected Public:
State, Local, and Tribal Governments.
Estimated Number of Respondents:
60.
Estimated Time per Respondent:
15 minutes.
Estimated Total Annual Burden Hours:
15 hours.
The following paragraph applies to all 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 if 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: January 20, 2023.
Kerry L. Dennis,
Tax Analyst.