Federal Register #2026-20625

IRS Request for Comments on Corporate Stock Repurchase Excise Tax Information Collection

The Department of the Treasury’s Internal Revenue Service (IRS) is seeking public comments on its information collection for the corporate stock repurchase excise tax. - Government buyer: Department of the Treasury, Internal Revenue Service (IRS). - Notice purpose: Request for public comments under the Paperwork Reduction Act on an extension of an existing information-collection approval; this is not a procurement opportunity or an award. - Form and requirement: Covered corporations use Form 7208 to calculate and report the excise tax on stock repurchases under Internal Revenue Code section 4501. The collection supports IRS verification of tax due and compliance with reporting and recordkeeping requirements. - Burden estimate: 3,750 respondents, an estimated 6 hours and 30 minutes per respondent, and 24,375 total annual burden hours. - Proposed changes: No changes are being made to the form. - OEMs and vendors: None identified. No products, services, quantities, or part numbers are being procured.

Description

The Internal Revenue Service is inviting comments under the Paperwork Reduction Act of 1995 on its information collection for the excise tax on repurchases of corporate stock. Form 7208 is used by certain covered corporations to compute and report the tax under Internal Revenue Code section 4501, supporting IRS review of tax due and compliance with reporting and recordkeeping requirements. The collection is an extension of an existing approval, with no changes to the forms. Comments are due by December 7, 2026.

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