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IRS Updates Publication on Electronic Filing Requirements

JAN. 14, 2013

Announcement 2013-10; 2013-3 I.R.B. 311

DATED JAN. 14, 2013
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Citations: Announcement 2013-10; 2013-3 I.R.B. 311

Because of recent changes made by the American Taxpayer Relief Act of 2012, the following update has been issued for Publication 1220, Specifications for Filing Forms 1097, 1098, 1099, 3921, 3922, 5498, 8935, and W-2G Electronically, revised August 13, 2012.

Payer "A" Record -- Record Layout Positions 28-43 for Form 1098-Mortgage Interest Statement (pg 43) -- Amount Code 4, Mortgage Insurance Premium has been reinstated.

                   Record Name: Payer "A" Record (continued)

 

 _____________________________________________________________________________

 

 

 Field          Field Title         Length Description and Remarks

 

 Position

 

 _____________________________________________________________________________

 

 

 28-43          Amount Codes        16

 

 

 Amount Codes                       For Reporting Payments on Form 1098:

 

 

 Form 1098 -- Mortgage Interest

 

 Statement

 

 

                                    Amount Code    Amount Type

 

                                    __________________________________________

 

 

                                    1.             Mortgage interest received

 

                                                   from payer(s)/borrower(s)

 

 

                                    2.             Points paid on the purchase

 

                                                   of a principal residence

 

 

                                    3.             Refund (or credit) of

 

                                                   overpaid interest

 

 

                                    4.             Mortgage Insurance Premium

 

 

                                    5.             Blank (Filer's use)

 

 _____________________________________________________________________________

 

 

Effect on Other Documents

Revenue Procedure 2012-30, 2012-33

 

I.R.B. 165, is updated.
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