IRS OKs Final Rule On Mortgage Insurance Premium Reporting

Law360, New York (November 26, 2013, 1:47 PM EST) -- The Internal Revenue Service on Tuesday revealed a final regulation requiring individuals who receive at least $600 in mortgage insurance premiums from any given mortgage over a calendar year to file a return on that money.

The regulation, scheduled for publication in the Federal Register on Wednesday, applies to mortgage insurance premiums that were paid or accrued on or after Jan. 1, in response to extensions granted by the American Taxpayer Relief Act of 2012, according to the IRS.

"A recipient need not aggregate mortgage insurance...
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