Instructions for IRS Form 8038 Information Return for Tax-Exempt Private Activity Bond Issues

IRS Form 8038 Information Return for Tax-Exempt Private Activity Bond Issues

This document contains official instructions for IRS Form 8038 , Information Return for Tax-Exempt Private Activity Bond Issues - a tax form released and collected by the Internal Revenue Service (IRS), a subdivision of the U.S. Department of the Treasury. An up-to-date fillable IRS Form 8038 is available for download through this link.

FAQ

Q: What is IRS Form 8038?
A: IRS Form 8038 is an information return for tax-exempt private activity bond issues.

Q: Who needs to file IRS Form 8038?
A: Entities that issue tax-exempt private activity bonds need to file IRS Form 8038.

Q: What information is required on IRS Form 8038?
A: IRS Form 8038 requires information about the bond issuer, the bond issue, and the use of bond proceeds.

Q: When is IRS Form 8038 due?
A: IRS Form 8038 is generally due by the 15th day of the 9th calendar month after the close of the bond issuer's fiscal year.

Q: Are there any penalties for late filing of IRS Form 8038?
A: Yes, there are penalties for late filing of IRS Form 8038. The penalty amount is based on the size of the bond issue.

Q: Can IRS Form 8038 be filed electronically?
A: Yes, IRS Form 8038 can be filed electronically using the IRS's e-File system.

Q: Are there any exceptions or special rules for filing IRS Form 8038?
A: Yes, there are exceptions and special rules for certain types of bonds and bond issuers. It is important to review the instructions for IRS Form 8038 for specific guidance.

Q: Is professional assistance recommended for filing IRS Form 8038?
A: Yes, it is recommended to seek professional assistance, such as a tax advisor or accountant, to ensure accurate and timely filing of IRS Form 8038.