Archives: Form 8038-CP

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Advisory Committee Recommends Electronic 8038 Filing, More Targeted Enforcement to IRS

The Advisory Committee on Tax-Exempt and Government Entities provided its annual set of recommendations to the IRS recently. Among other things, the panel recommended that the IRS implement electronic filing of Form 8038s and decrease the frequency of random audits, shifting instead to more targeted audits of tax-advantaged bond issues.… Continue Reading

Another Year of (Slightly Less) Pain for Direct Pay Bonds

  Noted public finance tax lawyer Clubber Lang remains correct in his prediction about Direct-Pay bonds. For those issuers that haven’t yet redeemed their direct-pay bonds with tax-exempt bonds, sequestration cuts to interest subsidies for direct pay bonds will continue for federal fiscal year 2016 (October 1, 2015 through September 30, 2016), according to a report that the … Continue Reading
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