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OID |
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Exempt OID and bearer bonds: Although it generally has not been possible to issue exempt bonds in bearer form since 1982, older exempt bonds in bearer form may still be in circulation. Secondarily, the lender booked the warrants at a nominal value of $1,000 and the taxpayer did not amortize any OID on the tax returns originally filed. Specifically, the March 1996 GAO's report, entitled "Tax Administration: IRS Can Improve Information Reporting for Original Issue Discount (OID) Bonds," states that the IRS should "work with representatives of the securities industry to develop a means to inform and remind OID bond issues of their responsibility to file Forms 8281. |
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