The Internal Revenue Service has released, in draft form, a new Form 8038-CP, Return for Credit Payments to Issuers of Qualified Bonds (the “Form”), and new Schedule A, Specific Tax Credit Bonds Interest Limit Computation (“Schedule A”). While the new Form and Schedule A are not yet final, and should not yet be used by issuers in their current form, the IRS’s objective in revising these documents is to facilitate electronic filing of the Form in 2022.
Attached, please find the Hawkins Advisory regarding the new Form 8038-CP and Schedule A.