Annual Mortgage Statement

(redirected from Forms 1098)

Annual Mortgage Statement

A statement that a mortgage lender sends to a borrower indicating the interest and points paid on a mortgage, the principal remaining, and the escrowed taxes and/or insurance that the lender paid on the borrower's behalf. This helps the borrower in taking the correct deductions on his/her tax return. It is also called Form 1098.
References in periodicals archive ?
File paper versions of most annual information statements (Forms 1098,1099, and others) for certain payments you made during 2018 (due date is April 1 if you are filing electronically).
The following additional information will be required to be reported on Forms 1098:
He said that a higher priority project was the FIRE (Filing Information Returns Electronically) project, which will permit the filing of all Forms 1098 and 1099 in the Martinsburg, West Virginia Service Center.
The IRS is pushing to have more payer file information returns (forms 1098, 1099, 5498 and W-2G) electronically.
File paper versions of most annual information statements (Forms 1098,1099, and others) for certain payments you made in 2017 (due date is April 2 if you are filing electronically).
As an offshoot of the e-filing process, two government officials recently discussed the prospects for a central "data warehouse" to store taxpayer information from IRS forms (such as the Forms 1098, 1099, and W-2) in a single repository that could be shared with other government agencies.
The Job Creation and Worker Assistance Act of 2002 (the Act) created some new electronic-filing rules affecting Forms 1098, Mortgage Interest Statement, and 1099.
Act Section 401 allows payors to furnish most Forms 1098 and 1099 electronically, rather than on paper, effective for 2002 forms to be provided in January 2003.
If you file Forms 1098 or 1099 electronically (not by magnetic media), your due date for filing them with the IRS will be extended to March 31.
99-50 to specific forms (e.g., Forms 1098 or 1099-INT) or specific reporting entities (i.e., any unit, branch or location within a particular business entity).
99-50 permits combined information reporting on all forms in the 1099 series (Forms 1098, 5498, 1042-S and W-2G).
91-33 sets forth the specifications for filing Forms 1098, 1099, 5498, and W-2G electronically or on magnetic media.