Code (Internal Revenue)
The Internal Revenue Code of 1986, as amended and in effect on the date of issuance of the bonds.
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(IRS) Form 8038
Form required to establish and maintain the federal income tax-exempt status of the Interest on Tax-Exempt Bonds. Depending upon the type of transaction, Issuers of Tax-Exempt Bonds are required to file one of the forms in the IRS Form 8038 series to report the issuance of Tax-Exempt Bonds to the IRS. In most cases, this will be either an IRS Form 8038-G for Governmental Bonds or Governmental Purpose Bonds or an IRS Form 8038 for qualified Private Activity Bonds.
Get it in Writing
Learn more about the various documents involved in a municipal securities transaction.
Dive Deeper on Tax Issues
Learn more about how various aspects of tax law intersect with municipal securities.
See Also
Start with the Bond Basics
Hundreds of Terms and Concepts
Additional Bonds
Bonds which may be issued in the future under the same master indenture, bond resolution/ordinance, and related documentation upon meeting certain conditions designed to ensure that the revenues available to repay the original bonds, any currently outstanding additional bonds, and the proposed additional bonds will be sufficient (the “additional bonds test”).