(a) 26 U.S.C. 6050M, as implemented in 26 CFR, requires heads of Federal executive agencies to report certain information to the IRS.

(b)

1. (1) The required information applies to contract modifications-

   1. (i) Increasing the amount of a contract awarded before January 1,1989, by $50,000 or more; and

   2. (ii) Entered into on or after April 1,1990.

2. (2) The reporting requirement also applies to certain contracts and modifications thereto in excess of $25,000 entered into on or after January 1,1989.

(c) The information to report is-

1. (1) Name, address, and TIN of the contractor;

2. (2) Name and TIN of the common parent (if any);

3. (3) Date of the contract action;

4. (4) Amount obligated on the contract action; and

5. (5) Estimated contract completion date.

(d) Transmit the information to the IRS through the Federal Procurement Data System (see subpart  4.6 and implementing instructions).