Series 8038 Tax Exempt Bond Forms

About Form 8038

Form 8038 is used to provide information about Tax exempt Bond issues. This information is required by IRC 103(L). This form is required due to the new TEFRA Law. Issuers of tax-exempt private activity bonds file this form to provide the IRS with the information required by Internal Revenue Code section 149 and to monitor the requirements of Internal Revenue Code sections 141 through 150.

About Form 8038-B

Form 8038-B is an information return used to report specific information on Build America Bonds and Recovery Zone Economic Development Bonds. Issuers of build America bonds (Tax Credit), build America bonds (Direct Pay), and recovery zone economic development bonds use this form to provide the IRS with the information required by section 149(e).

About Form 8038-CP

Information about Form 8038-CP, Return for Credit Payments to Issuers of Qualified Bonds, including recent updates, related forms and instructions on how to file. Issuers of build America bonds, recovery zone economic development bonds, and specified tax credit bonds submit this form to request a direct payment from the Federal Government equal to a percentage of the interest payments on these bonds.

About Form 8038-G

Form 8038-G is used by issuers of tax-exempt governmental obligations to provide the IRS with the information required by section 149(e) and to monitor the requirements of sections 141 through 150. Issuers of tax-exempt governmental obligations use this form to provide the IRS with the information required by Internal Revenue Code section 149(e) and to monitor the requirements of Internal Revenue Code sections 141 through 150.

About Form 8038-GC

Issuers of tax-exempt governmental obligations use this form to provide the IRS with the information required by Internal Revenue Code section 149(e) and to monitor the requirements of Internal Revenue Code sections 141 through 150.

About Form 8038-R

Form 8038-R is used by issuers of state and local bonds to request a refund of amounts paid with Form 8038-T, Arbitrage rebate and Penalty in Lieu of Arbitrage Rebate. Form 8038-R replaces the letter procedure of Rev. Proc. 92-38, 192-2C.B.487. Issuers of state and local bonds use this form to request a refund of amounts paid with Form 8038-T, Arbitrage Rebate, Yield Reduction, and Penalty in Lieu of Arbitrage Rebate.

About Form 8038-T

Form 8030-T is used to pay the arbitrage rebate to the United States, and to pay a penalty in lieu of rebates. Under Internal Revenue Code section 148(f), interest on a state or local bond is not tax-exempt unless the issuer of the bond rebates to the United States arbitrage profits earned from investing proceeds of the bond in higher yielding nonpurpose investments. Issuers of tax-exempt bonds and any other bonds subject to the provisions of Internal Revenue Code section 148 must use this form to make arbitrage rebate and related payments.

About Form 8038-TC

Issuers of the qualified tax credit bonds and specified tax credit bonds use this form to provide the IRS with the information required by Internal Revenue Code section 149(e).