The Internal Revenue Service (IRS) announced a notice inviting public comment on the continuation or modification of information collection related to expense allocations by real estate mortgage investment conduits (REMICs). This is part of the IRS's efforts under the Paperwork Reduction Act of 1995 to minimize paperwork and respondent burdens. Comments should address whether the information collection is necessary, the accuracy of burden estimates, and suggestions for improving the quality and minimizing the burden of the collection. Written comments must be submitted by May 27, 2025.
Simple Explanation
The IRS wants to know what people think about how they handle information from special groups that deal with real estate loans to make things easier and less work for everyone. They are asking people to send their comments by the end of May to help them decide if anything needs changing.