IRS Releases Revised Version of Form 8038-T
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IRS Releases Revised Version of Form 8038-T The Internal Revenue Service has released a revised Form 8038-T, Arbitrage Rebate, Yield Reduction and Penalty in Lieu of Arbitrage Rebate. Form 8038-T is used by issuers of state and local bonds subject to the provisions of section 148 to pay arbitrage rebate, yield reduction payments, the penalty in lieu of arbitrage rebate or to terminate the election to pay a penalty in lieu of arbitrage rebate, and penalties and interest on the failure to pay on time any of the above amounts. The revised Form 8038-T is available by clicking here. The revised instructions for Form 8038-T are available by clicking here. For more information go to Tax Exempt Bonds Community on IRS.gov.
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