Form 8038

Form 8038

An information return that the issuer of a tax-exempt private activity bond files with the IRS. The information required on the return includes what the bond is used for (airport, dock, sewage facility, etc.) and the proceeds of the issue.
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Form 8038, Form 8038-G, or Form 8038-GC filed with IRS;
For Calendar Year 2011, issuers of recovery zone exempt facility bonds were required to file IRS Form 8038, Information Return for Tax-Exempt Private Activity Bonds.
2] For this table, "other purposes" refer to obligations for which a specific purpose either did not apply or was not clearly indicated on the Form 8038, Information Return for Tax-Exempt Private Activity Bond Issues.
For Calendar Year 2010, issuers of recovery zone exempt facility bonds were required to file IRS Form 8038, Information Return for Tax-Exempt Private Activity Bonds.
The 2010 data include a small number of tax credit bonds reported on Form 8038 that specifically reference "qualified school construction" bonds, "clean renewable energy" bonds, "Midwestern tax credit" bonds, or "qualified zone academy" bonds.
Confirmed submitters are those whose identities have been verified by another confirmed EMMA user or who have provided the MSRB with certain documentation such as a copy of IRS Form 8038 or a request for a confirmation (on the letterhead of the issuer or the obligated person).
For Calendar Year 2009, issuers of recovery zone exempt facility bonds were required to file IRS Form 8038, Information Return for Tax-Exempt Private Activity Bonds.
1] These calculations are based on the data reported on Part II of Form 8038 for type of issue, and include the following: mass commuting facilities, water furnishing facilities, sewage facilities, solid waste disposal facilities, qualified residential rental projects, local electric energy or gas furnishing facilities, local district heating and cooling facilities, qualified hazardous waste facilities, high-speed intercity rail facilities, qualified mortgage bonds, qualified small issue bonds, qualified student loan bonds, and qualified redevelopment bonds.
1] These amounts were calculated using data reported on Part II of Form 8038 for those types of issue subject to the unified State volume cap, and include bonds issued for the following purposes: mass commuting facilities, water furnishing facilities, sewage facilities, solid waste disposal facilities, qualified residential rental projects, local electricity or gas furnishing facilities, local district heating or cooling facilities, qualified hazardous waste facilities, high-speed intercity rail facilities, qualified mortgage bonds, qualified small issue bonds, qualified student loan bonds, and qualified redevelopment bonds.
16] Amounts subject to the volume cap were calculated using the data reported on Part II of Form 8038 for type of issue, prorated according to the percent of the issue that was new money.
A new grouping "Government Entities/Bonds" has now been added and includes: Form 8038, Information Return for Tax-Exempt Private Activity Bond Issues; Form 8038G, Information Return for Government Purpose Tax-Exempt Bond Issues; Form 8038GC, Consolidated Information Return for Small Tax-Exempt Government Bond Issues; Form 8038T, Arbitrage Rebate and Penalty in Lieu of Arbitrage Rebate; and Form 8328, Carry Forward Election of Unused Private Activity Bond Volume Cap.
5] The Tax-Exempt return category has been expanded and now includes the following additional returns: Form 5330, Return of Initial Excise Taxes Related to Employee Benefit Plans; Form 5558, Application for Extension of Time To File Certain Employee Plans Returns; Form 8038, Information Return for Tax-Exempt Private Activity Bond Issues; Form 8038G, Information Return for Government Purpose Tax-Exempt Bond Issues; Form 8038GC, Consolidated Information Return for Small Tax-Exempt Government Bond Issues; Form 8038T, Arbitrage Rebate and Penalty in Lieu of Arbitrage Rebate; Form 8328, Carry Forward Election of Unused Private Activity Bond Volume Cap; Form 8871, Political Organization Notice of Section 527 Status; and Form 8872, Political Organization Report of Contributions and Expenditures.