Student Loan Interest Statement (Form 1098-E)

ICR 202306-1545-003

OMB: 1545-1576

Federal Form Document

Forms and Documents
Document
Name
Status
Form
Modified
Supporting Statement A
2023-08-29
IC Document Collections
IC ID
Document
Title
Status
18790 Modified
ICR Details
1545-1576 202306-1545-003
Received in OIRA 202001-1545-025
TREAS/IRS
Student Loan Interest Statement (Form 1098-E)
Extension without change of a currently approved collection   No
Regular 08/30/2023
  Requested Previously Approved
36 Months From Approved 08/31/2023
10,093,249 22,148,234
1,211,190 2,657,789
0 0

Section 6050S(b)(2) of the Internal Revenue Code requires persons (financial institutions, governmental units, etc.) to report payments of $600 or more of interest paid on student loans to the IRS and the students. Form 1098-E has been developed to report the interest received during the year.

US Code: 26 USC 6050S Name of Law: Returns relating to higher education tuition and related expenses
  
None

Not associated with rulemaking

  88 FR 32285 05/19/2023
88 FR 60012 08/30/2023
No

1
IC Title Form No. Form Name
Student Loan Interest Statement 1098-E Student Loan Interest Statement

  Total Request Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 10,093,249 22,148,234 0 0 -12,054,985 0
Annual Time Burden (Hours) 1,211,190 2,657,789 0 0 -1,446,599 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
There are no changes being made to the form at this time. However, the estimated number of filers has been reduced to 10,093,249 from 22,148,234, based on IRS most recent filing data, resulting in a decrease of 1,446,599 burden hours from previously approved estimates.

$146,659
No
    Yes
    Yes
No
No
No
No
Jacqueline Gonzales 240 643-5806

  No

On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
 
 
 
 
 
 
 
    (i) Why the information is being collected;
    (ii) Use of information;
    (iii) Burden estimate;
    (iv) Nature of response (voluntary, required for a benefit, or mandatory);
    (v) Nature and extent of confidentiality; and
    (vi) Need to display currently valid OMB control number;
 
 
 
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
08/30/2023


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