Publication 1212 |
2000 Tax Year |
Introduction
This publication has two purposes. Its primary purpose is to help
brokers and other middlemen identify publicly offered original issue
discount (OID) debt instruments they may hold as nominees for the true
owners, so they can file Forms 1099-OID or Forms 1099-INT
as required. The other purpose of the publication is to help owners of
publicly offered OID debt instruments determine how much OID to report
on their income tax return.
This publication contains a list of publicly offered OID debt
instruments. The information on this list comes from the issuers of
the debt instruments and from financial publications and is updated
annually. (However, see Debt Instruments Not on the OID List,
later.)
Brokers and other middlemen can rely on this list to determine, for
information reporting purposes, whether a debt instrument was issued
at a discount and the OID to be reported on information returns.
However, because the information in the list has generally not been
verified by the IRS as correct, the following tax matters are subject
to change upon examination by the IRS.
- The OID reported by owners of a debt instrument on their
income tax returns.
- The issuer's classification of an instrument as debt for
federal income tax purposes.
Instructions for issuers of OID debt instruments.
Issuers of the types of publicly offered OID debt instruments
listed in this publication must, within 30 days after the issue date,
report information about the instruments to the IRS on Form 8281,
Information Return for Publicly Offered Original Issue Discount
Instruments. See the form instructions for more information.
Issuers should report errors in and omissions from the list in
writing at the following address:
OID Publication Project
W:CAR:MP:FP:P Room 5607
Internal Revenue Service
1111 Constitution Ave. NW
Washington, D.C. 20224
REMIC and CDO information reporting requirements.
Brokers and other middlemen must follow special information
reporting requirements for real estate mortgage investment (REMIC)
regular and collateralized debt obligations (CDO) interests. The rules
are explained in Publication 938, Real Estate Mortgage Investment
Conduits (REMICs) Reporting Information.
You can download Publication 938 from our web site at
www.irs.gov. Go to the Forms and Publications page and
select Forms and Publications by Date or Forms and
Publications by Number. Then select Publication 938 from the
list.
Holders of interests in REMICs and CDOs should see chapter 1 of
Publication 550
for information on REMICs and CDOs.
Comments and suggestions.
We welcome your comments about this publication and your
suggestions for future editions.
You can e-mail us while visiting our web site at
www.irs.gov/help/email2.html.
You can write to us at the following address:
Internal Revenue Service
Technical Publications Branch
W:CAR:MP:FP:P
1111 Constitution Ave. NW
Washington, DC 20224
We respond to many letters by telephone. Therefore, it would be
helpful if you would include your daytime phone number, including the
area code, in your correspondence.
Previous| First | Next
Publication Index | IRS-Forms Main | Home
|