Revision to Form 8038-CP and Instructions
Internal Revenue Service (IRS) sent this bulletin at 10/25/2021 11:06 AM EDT
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Revision to Form 8038-CP and Instructions The IRS released draft Form 8038-CP, Return for Credit Payments to Issuers of Qualified Bonds, including new Schedule A, Specific Tax Credit Bonds Interest Limit Computation, and the related draft Instructions. We’re updating the form and instructions to accommodate electronic filing of Form 8038-CP in 2022. Form 8038-CP is used to claim refundable tax credit payments payable to issuers of qualified Build America Bonds, Recovery Zone Economic Development Bonds, and specified tax credit bonds. Issuers should use the January 2022 version of Form 8038-CP for submissions received by the IRS in January 2022. Using a prior version of Form 8038-CP after 2021 may cause a delay in processing a request for credit payment. Tax Exempt Bonds will hold two Zoom meetings in November to explain the changes to filing Form 8038-CP and answer questions. Select the appropriate link below to join the meeting:
To join by audio only, dial by your location and input the meeting ID when prompted:
These Zoom meetings are open to everyone and will cover the same material with a slightly different emphasis. You are welcome to attend either meeting. We’ll post more information about Form 8038-CP revisions and electronic filing at the Recent Updates to Form 8038-CP and Processing Changes. The tax-exempt bond community can find answers to many questions at IRS.gov/bonds. If you’re unable to find answers to account-specific questions, call Customer Account Services at 877-829-5500. If you know someone who wants to subscribe to the TEB Community Update, forward this message to them to subscribe. To subscribe to other IRS news, click IRS Newsletters or IRS Social Media. This message was distributed automatically from the TEB Community Update mailing list. Please do not reply to this message. |
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