Part I. Rulings and Decisions Under the Internal Revenue Code of 1986

Section 163.—Interest

The Service provides guidance on the federal tax consequences of payments made to or on behalf of financially distressed homeowners under programs established pursuant to the Treasury Department’s Housing Finance Agency Innovative Fund for the Hardest-Hit Housing Markets and the Department of Housing and Urban Development’s Emergency Homeowners’ Loan Program. See Notice 2011-14, page 544.

Section 164.—Taxes

The Service provides guidance on the federal tax consequences of payments made to or on behalf of financially distressed homeowners under programs established pursuant to the Treasury Department’s Housing Finance Agency Innovative Fund for the Hardest-Hit Housing Markets and the Department of Housing and Urban Development’s Emergency Homeowners’ Loan Program. See Notice 2011-14, page 544.

Section 6041.—Information at Source

The Service provides guidance on the information reporting requirements for payments made to or on behalf of financially distressed homeowners un

der programs established pursuant to the Treasury Department’s Housing Finance Agency Innovative Fund for the Hardest-Hit Housing Markets and the Department of Housing and Urban Development’s Emergency Homeowners’ Loan Program. See Notice 2011-14, page 544.

Section 6050H.—Returns Relating to Mortgage Interest Received in Trade or Business From Individuals

The Service provides guidance on the information reporting requirements for payments made to or on behalf of financially distressed homeowners under programs established pursuant to the Treasury Department’s Housing Finance Agency Innovative Fund for the Hardest-Hit Housing Markets and the Department of Housing and Urban Development’s Emergency Homeowners’ Loan Program. See Notice 2011-14, page 544.

Section 6721.—Failure to File Correct Information Returns

The Service provides guidance on the information reporting requirements for payments made to or on behalf of financially distressed homeowners un

der programs established pursuant to the Treasury Department’s Housing Finance Agency Innovative Fund for the Hardest-Hit Housing Markets and the Department of Housing and Urban Development’s Emergency Homeowners’ Loan Program. See Notice 2011-14, page 544.

Section 6722.—Failure to Furnish Correct Payee Statements

The Service provides guidance on the information reporting requirements for payments made to or on behalf of financially distressed homeowners under programs established pursuant to the Treasury Department’s Housing Finance Agency Innovative Fund for the Hardest-Hit Housing Markets and the Department of Housing and Urban Development’s Emergency Homeowners’ Loan Program. See Notice 2011-14, page 544.

2011–11 I.R.B. 543 March 14, 2011