Form 8281: Information Return for Publicly Offered Original Issue Discount Instruments
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Form 8281: Information Return for Publicly Offered Original Issue Discount Instruments

This article explores the Internal Revenue Service’s (IRS) Form 8281, which is used to report information about certain charitable contributions of property with a value of $5,000 or more. It also covers who must file, when to file, and other definitions related to OID instruments.

What is Form 8281?

Form 8281 is a document used by the IRS to report information related to the charitable contributions of property with a value of $5,000 or more. It must be submitted by the donor along with a qualified appraisal attached, and a copy must be provided to the donee. The form must be filed within the tax year in which the contribution was made and must be signed by the donor and the appraiser. Filing the form after the due date of the donor’s tax return may incur a penalty. Information such as the issuer’s name, CUSIP number, issue date, maturity date, issue price, annual stated interest rate, and yield to maturity will be made public. Certain exceptions such as debt instruments issued from REMICs, tax-exempt obligations, and short-term obligations do not need to file Form 8281. Furthermore, two forms must be filed within 30 days of issuance or of SEC registration.

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IRS Form 8281 – Who Needs to Fill It Out?

Form 8281 is used to report information about certain charitable contributions of property valued at $5,000 or more. The form must be completed and filed with the Internal Revenue Service (IRS) by the donor. The donor must also provide a qualified appraisal for the property and attach it to the form. The form and copy must be signed by the donor and the appraiser, and a copy must be provided to the donee. The form must be filed by the due date of the donor’s tax return, including extensions. Failure to file on time may result in a penalty.

Step-by-Step: Form 8281 Instructions For Filling Out the Document

Form 8281 is used to report information about certain charitable contributions of property valued at $5,000 or more to the IRS. The donor must provide a qualified appraisal of the property, complete it, sign it and file it with the IRS, along with a copy to the donee, by the due date of their tax return. It must be filed within the tax year of the contribution. If the form is not filed on time, there may be a penalty. The information to be reported on the Form 8281 is also made available to the public in the OID tables. Exceptions include regular interests of a REMIC, OSID de minimis instruments, tax-exempt obligations, short-term obligations, CDs issued by financial institutions and public offerings of stripped bonds or coupons. The form must be filed within 30 days after the date of issuance or registration with the SEC.

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Below, we present a table that will help you understand how to fill out Form 8281.

Information Required for Form 8281 Details
Use Report information about certain charitable contributions of property valued at $5,000 or more to the IRS
Appraisal The donor must provide a qualified appraisal of the property
Filing Deadline Must be filed with the IRS, along with a copy to the donee, by the due date of the donor’s tax return
Penalties If the form is not filed on time, there may be a penalty
Exceptions Exceptions include regular interests of a REMIC, OSID de minimis instruments, tax-exempt obligations, short-term obligations, CDs issued by financial institutions, and public offerings of stripped bonds or coupons
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Do You Need To File Form 8281 Each Year?

Yes, the Form 8281 must be filed each year when an OID debt instrument is outstanding. All information on the form, including the issuer’s name, CUSIP number, issue date, maturity date, issue price, annual stated interest rate, and yield to maturity, must be provided to the IRS each year by the due date of the donor’s tax return, including extensions, to avoid a penalty. The form must also include a qualified appraisal of the property and must be signed by the donor and the appraiser. The donor must also provide a copy of the form to the donee. The information provided on the form, such as the issue price and yield to maturity, is then published in the OID tables. Exceptions to the filing of Form 8281 apply to certain instruments, such as regular interests of a REMIC or issues exempt from SEC registration. For more information about filing Form 8281, refer to Publication 1212.

Download the official IRS Form 8281 PDF

On the official IRS website, you will find a link to download Form 8281. However, to make it easier for you, we are providing the link in our article, which comes directly from the official irs.gov website! Click to download: Form 8281

Sources:

https://www.irs.gov/forms-pubs/about-form-8281

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