Instructions For Form 1097-Btc - Bond Tax Credit - 2015
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42015
Department of the Treasury
Internal Revenue Service
Instructions for Form
1097-BTC
Bond Tax Credit
Section references are to the Internal Revenue Code
Clean renewable energy bonds.
unless otherwise noted.
Build America bonds (Tax Credit).
Future Developments
For tax credit bonds issued as serial bonds, each bond
must be reported separately on the Form 1097-BTC
For the latest information about developments related to
issued by the bond issuer or its agent.
Form 1097-BTC and its instructions, such as legislation
enacted after they were published, go to
Note. Issuers that have elected to issue build America
form1097btc.
bonds (Direct Pay) under section 54AA(g) or specified tax
What's New
credit bonds under section 6431(f) to receive a refundable
credit under section 6431(a) in lieu of tax credits under
Truncating recipient's identification number on
section 54A should not file Form 1097-BTC.
payee statements. Pursuant to Treasury Regulations
Definitions
section 301.6109-4, all filers of this form may truncate a
payee's identification number (social security number
Tax credit bond. Generally, a tax credit bond is an
(SSN), individual taxpayer identification number (ITIN),
obligation issued under sections 54, 54A, 54AA, 1397E,
adoption taxpayer identification number (ATIN), or
or 1400N(l) that entitles the taxpayer holding such bond
employer identification number (EIN)) on payee
on one or more credit allowance dates occurring during
statements. Truncation is not allowed on any documents
any tax year to a credit against the federal income tax
the filer files with the IRS. A payer/issuer's identification
imposed for that tax year.
number may not be truncated on any forms. See part J in
the 2015 General Instructions for Certain Information
Qualified tax credit bond. Qualified tax credit bonds
under section 54A include new clean renewable energy
Returns.
bonds under section 54C, qualified energy conservation
Reminder
bonds under section 54D, qualified zone academy bonds
In addition to these specific instructions, you should also
under section 54E, and qualified school construction
use the 2015 General Instructions for Certain Information
bonds under section 54F.
Returns. Those general instructions include information
New clean renewable energy bond. An obligation that
about the following topics.
is part of an issue, 100% of the available project proceeds
Who must file (nominee/middleman).
of which are to be used for capital expenditures incurred
When and where to file.
by governmental bodies, public power providers, or
Electronic reporting requirements.
cooperative electric companies for one or more qualified
Corrected and voided returns.
renewable energy facilities, as defined in section 54C.
Statements to recipients.
The annual credit allowed is 70% of the annual credit
Taxpayer identification numbers.
amount determined by applying 54A(b).
Backup withholding.
Qualified energy conservation bond. An obligation
Penalties.
that is part of an issue, 100% of the available project
Other general topics.
proceeds of which are to be used for one or more qualified
energy conservation purposes, as defined in section 54D.
You can get the general instructions at
The annual credit allowed is 70% of the annual credit
form1097btc
or by calling 1-800-TAX-FORM
amount determined by applying 54A(b).
(1-800-829-3676).
Qualified zone academy bond. An obligation that is
Specific Instructions
part of an issue, 100% of the available project proceeds of
which are to be used for a qualified purpose for a qualified
Issuers of certain tax credit bonds (or their agents) and
zone academy established by an eligible local education
recipients of Form 1097-BTC from the bond issuer or
agency, as provided in section 54E; or an obligation that is
agent, such as mutual funds or partnerships, who are
part of an issue, 95% or more of the proceeds of which
further distributing the credit must file Form 1097-BTC for
are to be so used and issued before October 4, 2008, as
each tax credit distributed from the following tax credit
provided by section 1397E.
bonds.
New clean renewable energy bonds.
Qualified school construction bond. An obligation that
Qualified energy conservation bonds.
is part of an issue, 100% of the available project proceeds
Qualified zone academy bonds.
of which are to be used for the construction, rehabilitation,
Qualified school construction bonds.
or repair of a public school facility or for the acquisition of
Nov 04, 2014
Cat. No. 54657F
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