Question 1

&#x2705; What is the purpose of IRS Form 8038-CP?

Accepted Answer

IRS Form 8038-CP, Return for Credit Payments to Issuers of Qualified Bonds, is used to claim refundable tax credits payable to issuers. File form 8038-CP with Tax990 and get to know the return status instantly! read more

Question 2

&#x2705; Who must file Form 8038-CP?

Accepted Answer

Issuers of qualified build America bonds (BABs), recovery zone economic development bonds (RZEDBs), and specified tax credit bonds must complete and file Form 8038-CP to the IRS read more

Question 3

&#x2705; When is the due date to file Form 8038-CP?

Accepted Answer

The deadline to file Form 8038-CP varies based on the interest type of the bond read more

Question 4

&#x2705; Is there a late filing penalty for Form 8038-CP?

Accepted Answer

Form 8038-CP doesn't have any late filing penalties. However, if you fail to file 8038-CP before the deadline, you may not receive the credit on time (before the interest payment date). read more

Question 5

&#x2705; What are the types of Bonds associated with form 8038-CP?

Accepted Answer

There are various bonds associated with form 8038-cp, such as Build America bonds, New clean renewable energy bonds, and more. File 8038-cp with Tax990 and get your return status instantly! read more

Question 6

&#x2705; Is there any additional requirement when filing 8038-CP?

Accepted Answer

While filing IRS 8038-CP form, the issuers/receivers may need to attach Schedule A along with their 8038-CP return. File form 8038-cp return with us and attach Schedule A for FREE! read more

Question 7

&#x2705; Whom can the issuer contact regarding payment-related questions in Form 8038-CP?

Accepted Answer

The issuer, the trustee, or the trustee authorized by the issuer on Form 8038-CP, may call TE/GE Customer Service at 877-829-5500. read more

Question 8

&#x2705; What is the Report Number on Form 8038-CP?

Accepted Answer

The report is a unique identifier that the issuers must assign permanently to bonds eligible for credit payments (when filing their first 8038-CP for the bond). read more

Question 9

&#x2705; The report number assigned to my bond is outside the IRS-specified range (401-450). What should I do?

Accepted Answer

If you haven’t specified the report number when you filed Form 8038-CP earlier on paper for the corresponding bond, the IRS might have assigned a report number outside the mentioned range (Let’s say, 451). read more

Question 10

&#x2705; What are fixed-rate and variable-rate bonds?

Accepted Answer

Based on the type of interest rates paid, bonds are classified as fixed-rate and variable-rate bonds. read more

Question 11

&#x2705; Where do I find the CUSIP number of my bond?

Accepted Answer

The CUSIP (Committee on Uniform Securities Identification Procedures) number is a unique identification number assigned for a bond. read more

Question 12

&#x2705; What is the IRS code number of my bond?

Accepted Answer

The IRS has assigned a three-digit code number to indicate the type of bond. Based on the type of your bond, you must enter the applicable code number. read more

Question 13

&#x2705; Can I paper file Form 8038-CP?

Accepted Answer

Yes! Starting in 2024, the IRS mandates the e-filing of 8038-CP if you are required to file 10 or more returns of any type in a calendar year. read more

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