2023 Tax Calendar
VIEWpoint Issue 2 | 2022
Inflation Reduction Act: Highlights of Key Changes for You and Yo...
The 2022 Gift Tax Return Deadline Is Coming Up Soon
HUD Strengthens the Effects Test
President Biden’s Proposed Budget Includes Notable Tax Provis...
As a result of the recent signing of the Stopgap Highway Bill, mortgage servicers will now be required to meet additional reporting requirements. Currently, mortgage servicers are only required to report to the IRS certain information via Form 1098. Under the new bill, mortgage servicers will now need to report additional information such as:
To allow time to implement new reporting requirements the bill applies to all returns and statements due after Dec. 31, 2016. Due to the Trade Extension Act of 2015, it is critical for mortgage servicers to accurately file their Form 1098 timely to avoid heavy penalties.
If you have any questions regarding the new IRS reporting requirements, please contact Doeren Mayhew’s financial institution advisors in Michigan, Houston and Ft. Lauderdale.
This publication is distributed for informational purposes only, with the understanding that Doeren Mayhew is not rendering legal, accounting, or other professional opinions on specific facts for matters, and, accordingly, assumes no liability whatsoever in connection with its use. Should the reader have any questions regarding any of the news articles, it is recommended that a Doeren Mayhew representative be contacted.
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