Form 1098-MA - Mortgage Assistance Payments

Forms and Documents

Document Name	Status
Form 1098-MA Form 1098-MA - Mortgage Assistance Payments Form and Instruction	New
Emergency Justification Form 1098-MA.doc Supplementary Document	2011-10-12
ombat1.doc Supplementary Document	2011-10-11
Supporting Statement.pdf Supporting Statement A	2011-10-12

IC Document Collections

IC ID	Document Title	Status
199707	Form 1098-MA - Mortgage Assistance Payments Form and Instruction	New

ICR Details

OMB Control No: 1545-2221	ICR Reference No: 201110-1545-029
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: TREAS/IRS	Agency Tracking No: Requesting Approval by 10/20/2011
Title: Form 1098-MA - Mortgage Assistance Payments
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 10/20/2011
OIRA Conclusion Action: Approved without change	Conclusion Date: 10/18/2011
	Date Received in OIRA: 10/12/2011
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2012	6 Months From Approved
Responses	60,000	0	0
Time Burden (Hours)	170,400	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: Information is needed to identify taxpayers who may not be taking a correct mortgage interest deduction, since mortgage servicers processing mortgage payments may not be able to segregate payments received from government funds versus payments made by individual mortgagees. Respondents include the Department of Housing and Urban Development and State Housing Finance Agencies from the 50 states and the District of Columbia.

Emergency Justfication: Notice 2011-14, issued March 14, 2011 in response to P.L. 110-343, Div. A, sec. 109 and P.L. 111-203, sec. 1496, requires State Housing Finance Agencies (HFAs) and existing state programs receiving funding from the Housing and Urban Development's (HUD) Emergency Homeowner's Loan Program (EHLP) to report to the IRS and to financially distressed homeowners the total amounts of mortgage assistance payments and homeowner payments made to mortgage servicers from funds made available through the HFA Hardest Hit Fund, effective for calendar years 2011 and 2012.

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Authorizing Statute(s): PL: Pub.L. 111 - 203 1496 Name of Law: Dodd-Frank Act
   PL: Pub.L. 110 - 343 109 Name of Law: Emergency Economic Stabilization Act of 2008
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 1496 Name of Law: Dodd-Frank Act
PL: Pub.L. 110 - 343 109 Name of Law: Emergency Economic Stabilization Act of 2008

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Form 1098-MA - Mortgage Assistance Payments	1098-MA	Mortgage Assistance Payments

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	60,000	0	60,000	0	0	0
Annual Time Burden (Hours)	170,400	0	170,400	0	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: Notice 2011-14, issued March 14, 2011 in response to P.L. 110-343, Div. A, sec. 109 and P.L. 111-203, sec. 1496, requires State Housing Finance Agencies (HFAs) and existing state programs receiving funding from the Housing and Urban Development's (HUD) Emergency Homeowner's Loan Program (EHLP) to report to the IRS and to financially distressed homeowners the total amounts of mortgage assistance payments and homeowner payments made to mortgage servicers from funds made available through the HFA Hardest Hit Fund, effective for calendar years 2011 and 2012. This new form is a statement reported to the IRS and to taxpayers. It will be filed and furnished by State Housing Finance Agencies (HFAs) and HUD to report the total amounts of mortgage assistance payments and homeowner mortgage payments made to mortgage servicers. The requirement for the statement are authorized by Notice 2011-14, supported by P.L. 111-203, sec. 1496, and P.L. 110-343, Division A, sec. 109. This reporting of information will result in an estimated increase in the number of responses by 60,000 and an increase in the estimated burden by 170,400 hours.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Yes

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 10/12/2011

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