- Form 7208 enables covered corporations to compute and report the excise tax on certain stock repurchases.
- The IRS estimates 3,750 respondents face 6.5 hours each, totaling 24,375 annual burden hours.
- Written comments on necessity, accuracy, utility and burden reduction are due by December 7, 2026.
- This is an extension of a currently approved collection with no form changes proposed.
Notice Details
The Internal Revenue Service published a notice on October 8, 2026 in the Federal Register requesting comments under the Paperwork Reduction Act of 1995 on the collection associated with Form 7208.
The form is used by certain covered corporations to compute and report the excise tax on repurchases of corporate stock under Internal Revenue Code section 4501. Information collected allows the IRS to verify the correct tax amount and compliance with reporting and recordkeeping requirements.
This is an extension of a currently approved collection. No changes are being made to the form at this time.
Affected Parties and Comment Topics
The collection affects business or other for-profit organizations along with individuals, not-for-profit institutions, farms, and federal, state, local or tribal governments in relevant cases.
Comments are invited on whether the collection is necessary and has practical utility, the accuracy of the burden estimate, ways to enhance information quality and clarity, methods to minimize respondent burden including through automation, and estimates of capital, start-up, operation, maintenance and service costs.
Readers facing separate existing IRS tax debt issues unrelated to this stock repurchase excise tax may have broader compliance questions. Republic Tax Relief offers private tax-resolution services for individuals and businesses with IRS or state tax issues and advertises a free, no-obligation initial consultation to discuss suitability, scope, fees and availability of help communicating with the IRS.
Burden Estimates and Submission Process
The IRS estimates 3,750 respondents, each requiring 6 hours and 30 minutes, for a total of 24,375 annual burden hours.
Written comments must be received by December 7, 2026 to be assured of consideration. They should be sent to Andrés Garcia, Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224, or emailed to the address listed in the notice. The subject line must include OMB Number 1545-2323--Public Comment Request Notice.
Additional information is available from Ronald J. Durbala at (202) 317-5746 or the provided email address. All comments become public record.
Announcement covered: Oct 8, 2026.
General information only, not individual tax, legal, or financial advice. Rules, deadlines, and eligibility depend on your circumstances. Check current official guidance or consult a qualified professional.
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