Document
Agency Information Collection Activities; Comment Request on Reporting Requirements for Recipients of Points Paid on Residential Mortgages and Mortgage Interest Statement.
In accordance with the Paperwork Reduction Act of 1995, the IRS is inviting comments on the information collection request outlined in this notice.
SUPPLEMENTARY INFORMATION:
The IRS, in accordance with the Paperwork Reduction Act of 1995 (PRA) (44 U.S.C. 3506(c)(2)(A)), provides the general public and Federal agencies with an opportunity to comment on proposed, revised, and continuing collections of information. This helps the IRS assess the impact and minimize the burden of its information collection requirements. 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, and viewable on relevant websites. For this reason, please do not include in your comments information of a confidential nature, such as sensitive personal information.
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.
Title:
Reporting Requirements for Recipients of Points Paid on Residential Mortgages and Mortgage Interest Statement.
OMB Control Number:
1545-1380.
Form Number:
1098.
Regulation Project Number:
TD 8191 as amended by TD 8507, TD 8571, TD 8734, and TD 9849.
Abstract:
Internal Revenue Code (IRC) section 6050H provides that an information return must be made by any person who is engaged in a trade or business and who, during that trade or business, receives from any individual $600 or more of interest on any mortgage in a calendar year. Any person required to make an information return under IRC section 6050H also must furnish a statement to the payor of record on or before January 31 of the year following the calendar year in which the interest was received. Form 1098, Mortgage Interest Statement, is used to report mortgage interest (including points) received during the year.
Current Actions:
There is no change to the previously approved information collection.
Type of Review:
Extension of a currently approved collection.
Affected Public:
Business or other for-profit organizations.
Estimated Number of Responses:
75,912,060.
Estimated Time per Response:
15 minutes.
Estimated Total Annual Burden Hours:
18,946,931.
Dated: May 8, 2026.
Jason M. Schoonmaker,
Tax Analyst.