What is Form 8038-CP?

Issuers of specified tax credit bonds submit Form 8038-CP to receive a direct payment from the federal government equal to a percentage of the interest payments on these bonds.

Who needs to file Form 8038-CP?

Issuers of the following bonds must submit this return to request credit payments payable under the American Recovery and Reinvestment Act.

  • Build America bonds (BAB)
  • New clean renewable energy bonds (NCREB)
  • Qualified energy conservation bonds (QECB)
  • Qualified zone academy bonds (QZAB)
  • Qualified school construction bonds (QSCB)
  • Recovery zone economic development bonds (RZEDB)

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What is Schedule A for Form 8038-CP?

Form 8038-CP Schedule A Schedule A must be completed when claiming a credit under section 6431 for specified tax credit bonds

  • New clean renewable energy bonds (NCREB)
  • Qualified energy conservation bonds (QECB)
  • Qualified zone academy bonds (QZAB)
  • Qualified school construction bonds (QSCB)

Visit https://www.expresstaxexempt.com/form-8038-cp/form-8038-cp-filing-instructions/ to know more about the 8038-CP filing instructions.

When is the due date to file Form 8038-CP?

  • For fixed-rate bonds, Form 8038-CP must be filed at least 45 days before the interest payment date. However, Form 8038-CP must be submitted 90 days before the applicable interest payment date.
  • For variable-rate bonds, Form 8038-CP can be submitted within the same deadlines as fixed-rate bonds if the issuer knows the interest payment amount 45 days before the interest payment date (45 days before the relevant interest payment date but no earlier than 90 days before the relevant interest payment date). Variable-rate bonds, on the other hand, should be submitted on a separate Form 8038-CP.

How to file Form 8038-CP?

To e-file Form 8038-CP with ExpressTaxExempt, follow these simple steps:

Step -1
Enter Bond Details
Enter Bond Details
Step -2
Enter Form Data
Enter Form Data
Step -3
Review and Transmit it to the IRS
Review and Transmit it to the IRS

Advantages of filing Form 8038-CP electronically

Express990 simplifies the e-filing of Form 8038-CP by providing clear and precise instructions.

Filers can attach Schedule A for FREE when filing Form 8038-CP with our IRS-authorized e-filing software. You can also add additional users to manage the filing process.

You can contact our live customer support team through live chat, phone, or email.

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