Revised Form 8038 to include bonds authorized by the Infrastructure Investment and Jobs Act; Reminder: Use revised form 8038-CP to claim direct pay credits
Internal Revenue Service (IRS) sent this bulletin at 03/08/2022 02:52 PM EST
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The IRS has revised Form 8038 to include bonds authorized by the Infrastructure Investment and Jobs ActThe IRS has released an updated Form 8038, Information Return for Tax-Exempt Private Activity Bond Issues. Form 8038 has been revised to include exempt facility bonds for qualified broadband projects (line 11k) and qualified carbon dioxide capture facilities (line 11o), which were authorized to be financed with private activity bonds by the Infrastructure Investment and Jobs Act, Pub. L. 117-58, 135 Stat. 429 (2021). Tax Exempt Bonds Forms & Publications are available on IRS.gov. Reminder: Use revised form 8038-CP to claim direct pay credits Issuers of direct pay tax credit bonds should use the January 2022 version of Form 8038-CP for all future credit payment claims. Using a prior version of Form 8038-CP may cause processing delays. Below are links to the revised form and instructions:
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. 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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