WASHINGTON - The Internal Revenue Service has announced that issuers can modify and use the existing 8038-GC form to separately report governmental bond, lease, and installment sales of less than $100,000.

The IRS said in Announcement 92-147, which was published Wednesday, that issuers should make two modifications to the existing forms, which were meant to be used by issuers reporting these issues on a consolidated rather than separate basis. The announcement says issuers should strike the word consolidated" from the title of the form and cross out line five, replacing it with issue price of the small tax-exempt governmental obligation."

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