Get Information Return For Publicly Offered Original Issue Discount Instruments

Use Form 2848 to authorize an individual to represent you before the IRS. About Form 2848, Power of Attorney and Declaration of Representative irs.gov https://.irs.gov › forms-pubs › about-form-2848 irs.gov https://.irs.gov › forms-pubs › about-form-2848

Form 1099-OID shows all OID income in box 1 except OID on a U.S. Treasury obligation, which is shown in box 8. It also shows, in box 2, any qualified stated interest you must include in income. (However, any qualified stated interest on TIPS can be reported on Form 1099-INT in box 3.)

You must prepare a Form 1099-OID for each person who is a holder of record of the obligation if the total daily portions of OID for that person is at least $10. See the instructions for Box 1, later, for taxable OID; Box 8, later, for taxable OID on U.S. Treasury obligations; and Box 11, later, for tax-exempt OID.

Generally, mail or fax Form 2848 directly to the Centralized Authorization File (CAF) Unit at the service center where the related return was, or will be, filed. To find the service center address, see the related tax return instructions. To get the fax number, call 1-800-829-1040. Instructions for Form 2848 - IRS irs.gov https://.irs.gov › pub › irs-prior irs.gov https://.irs.gov › pub › irs-prior

If you are the issuer of publicly offered debt instruments having original issue discount (OID), file Form 8281 to provide the information required by section 1275(c).

Form 8821 You can use Form 8821 to allow the IRS to discuss your tax matters with designated third parties and, where necessary, to disclose your confidential tax return information to those designated third parties on matters other than just the processing of your current tax return. Topic No. 312, Disclosure Authorizations - IRS irs.gov https://.irs.gov › taxtopics irs.gov https://.irs.gov › taxtopics

Original issue discount is the excess of an obligation's stated redemption price at maturity over its issue price, and it is taxable as interest over the life of the obligation. Obligations that may have OID include bonds, debentures, notes, or certificates with a term of more than one year.

You can use Form 2848, Power of Attorney and Declaration of Representative for this purpose. Your signature on the Form 2848 allows the individual or individuals named to represent you before the IRS and to receive your tax information for the matter(s) and tax year(s)/period(s) specified on the Form 2848. Topic No. 311, Power of Attorney Information - IRS irs.gov https://.irs.gov › taxtopics irs.gov https://.irs.gov › taxtopics