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. The IRS is 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.

The IRS office of 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:

For paid preparers such as banks and bond counsel.

For issuers that file their own Forms 8038-CP.

To join by audio only, dial by your location and input the meeting ID when prompted:

  • (669) 254-5252 US (West Coast)
  • (646) 828-7666 US (East Coast)

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