What is the maximum amount of tax-exempt interest that can be paid on a qualified zone academy bond?

The maximum amount of tax-exempt interest that can be paid on a qualified zone academy bond is determined by the issuer and must comply with the provisions of section 146.

How do I calculate the credit amount that needs to be reported on Form 1097-BTC?

To calculate the credit amount that needs to be reported on Form 1097-BTC, you will need to determine the total face amount of the qualified zone academy bonds issued during the calendar year. Then, determine the percentage of the bond's principal amount that has been redeemed or matured and report this percentage in box 5c for each credit allowance date. If a clean renewable energy bond or qualified tax credit bond is issued, redeemed, or matures during the 3-month period ending on a credit allowance date with respect to which you are reporting the credit, prorate the credit amount for that credit allowance date.

How do I report the additional payment of tax-exempt interest made on redemption or maturity?

If a qualified zone academy bond was redeemed or matured, and an additional payment of tax-exempt interest was made, you must include this amount in Box 5i. This is in addition to the tax-exempt interest paid during the year, which should be reported in Box 5b.

What is a qualified zone academy bond?

A qualified zone academy bond is a type of tax-exempt bond that can be issued by state and local governments for the purpose of financing the construction, renovation, or repair of public school facilities in designated economically distressed areas. The bond proceeds must be used to finance the acquisition, construction, expansion, repair, or refinancing of a qualified school facility.

How do I report the credit amount on Form 1097-BTC?

To report the credit amount on Form 1097-BTC, you will need to enter the prorated percentage of the bond's principal amount that has been redeemed or matured in box 5c for each credit allowance date. For the annual reporting period and December 15th credit allowance date, enter the total face amount of the qualified zone academy bonds issued during the calendar year multiplied by the percentage determined in step 2.

What are the rules for prorating a bond's credit allowance?

If a qualified zone academy bond was redeemed or matured before the end of its term and an additional payment of tax-exempt interest was made, you must follow the proration rules. This means that you should divide the number of days in which the bond was outstanding during the period by the total number of days included in the 3-month period. The percentage of credit allowed for that credit allowance date is then multiplied by the credit amount determined in STEP 1.

What happens to the bond if it is redeemed or matures before the end of its term?

If a qualified zone academy bond is redeemed or matures before the end of its term, the issuer must make an additional payment of tax-exempt interest equal to 30% of the remaining principal amount of the bond. This additional payment must be made within 90 days after the date on which the bond was redeemed or matured.

Obrazac 1097-BTC

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Obrazac 1097-BTC (Rev. Prosinac 2019.)

Porezni kredit na obveznice

These instructions provide guidance on how to complete Form 1097-BTC, which is used by bond issuers or their agents to report tax credits related to certain types of bonds. Recipients of these credits, such as individuals and entities, are required to report the credits on their own tax returns. The form includes information about the issuer, recipient, bond type, and amount of credits allowed for each month of the calendar year.

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Obrazac 1097-BTC Upute - Upute za obrazac 1097-BTC (Rev. Decembar 2019.)

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Obrazac 1097-BTC

PITANJA

What is the maximum amount of tax-exempt interest that can be paid on a qualified zone academy bond?
The maximum amount of tax-exempt interest that can be paid on a qualified zone academy bond is determined by the issuer and must comply with the provisions of section 146.
How do I calculate the credit amount that needs to be reported on Form 1097-BTC?
To calculate the credit amount that needs to be reported on Form 1097-BTC, you will need to determine the total face amount of the qualified zone academy bonds issued during the calendar year. Then, determine the percentage of the bond's principal amount that has been redeemed or matured and report this percentage in box 5c for each credit allowance date. If a clean renewable energy bond or qualified tax credit bond is issued, redeemed, or matures during the 3-month period ending on a credit allowance date with respect to which you are reporting the credit, prorate the credit amount for that credit allowance date.
How do I report the additional payment of tax-exempt interest made on redemption or maturity?
If a qualified zone academy bond was redeemed or matured, and an additional payment of tax-exempt interest was made, you must include this amount in Box 5i. This is in addition to the tax-exempt interest paid during the year, which should be reported in Box 5b.
What is a qualified zone academy bond?
A qualified zone academy bond is a type of tax-exempt bond that can be issued by state and local governments for the purpose of financing the construction, renovation, or repair of public school facilities in designated economically distressed areas. The bond proceeds must be used to finance the acquisition, construction, expansion, repair, or refinancing of a qualified school facility.
How do I report the credit amount on Form 1097-BTC?
To report the credit amount on Form 1097-BTC, you will need to enter the prorated percentage of the bond's principal amount that has been redeemed or matured in box 5c for each credit allowance date. For the annual reporting period and December 15th credit allowance date, enter the total face amount of the qualified zone academy bonds issued during the calendar year multiplied by the percentage determined in step 2.
What are the rules for prorating a bond's credit allowance?
If a qualified zone academy bond was redeemed or matured before the end of its term and an additional payment of tax-exempt interest was made, you must follow the proration rules. This means that you should divide the number of days in which the bond was outstanding during the period by the total number of days included in the 3-month period. The percentage of credit allowed for that credit allowance date is then multiplied by the credit amount determined in STEP 1.
What happens to the bond if it is redeemed or matures before the end of its term?
If a qualified zone academy bond is redeemed or matures before the end of its term, the issuer must make an additional payment of tax-exempt interest equal to 30% of the remaining principal amount of the bond. This additional payment must be made within 90 days after the date on which the bond was redeemed or matured.

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Obrasci Porezne uprave (IRS).

Obrazac 1097-BTC je jedan od službenih poreznih obrazaca koji se koriste u Sjedinjenim Državama za prijavu prihoda, traženje odbitaka i kredita, izračunavanje poreznih obveza i ispunjavanje drugih poreznih obveza. Porezna uprava savezna je agencija odgovorna za upravljanje i provedbu zakona o unutarnjim prihodima u Sjedinjenim Državama.

Evo nekoliko primjera obrazaca Porezne uprave:

Obrazac 1040: Ovo je primarni obrazac za prijavu poreza na dohodak pojedinaca koji koristi većina poreznih obveznika. Koristi se za prijavu različitih vrsta prihoda, traženje odbitaka i kredita, izračunavanje porezne obveze te utvrđivanje duguje li porezni obveznik dodatni porez ili ima pravo na povrat.

Obrazac 1099: Postoje različite varijacije obrasca 1099, kao što je 1099-MISC, 1099-INT, 1099-DIV, itd. Ovi se obrasci koriste za prijavu prihoda koje pojedinci ili tvrtke ostvaruju iz različitih izvora osim zaposlenja, kao što je samozapošljavanje prihod, prihod od kamata, prihod od dividende i prihod od najma.

Obrazac W-2: Ovaj obrazac koriste poslodavci za prijavu plaća zaposlenika i poreza zadržani od njihove plaće. Zaposlenici koriste informacije na obrascu W-2 za ispunjavanje svojih pojedinačnih poreznih prijava.

Obrazac 941: Poslodavci koriste ovaj obrazac za prijavu poreza na zaposlenje, uključujući savezni porez na dohodak po odbitku, porez na socijalno osiguranje i porez na Medicare za svoje zaposlenike.

Obrazac 1065: Ovaj obrazac koriste partnerstva za prijavu svojih prihoda, odbitaka i poreznih obveza. Sama partnerstva ne plaćaju porez na dohodak; umjesto toga, partneri prijavljuju svoj udio u prihodu od partnerstva u svojim pojedinačnim poreznim prijavama.

Obrazac 1120: Ovo je obrazac za prijavu poreza na dobit koju koriste C korporacije za prijavu svojih prihoda, odbitke i porezne obveze.

Obrazac 990: Ovaj obrazac koriste organizacije oslobođene plaćanja poreza, kao što su neprofitne i dobrotvorne organizacije, prijaviti svoje financijske podatke, aktivnosti i usklađenost s poreznim zakonima.

Obrazac 8862: Ovaj obrazac koriste porezni obveznici koji su prethodno zatražili olakšicu od poreza na zarađeni dohodak (EITC) ali ga je zabranio, a sada ga ponovno želim zatražiti.

Ovo je samo nekoliko primjera brojnih obrazaca porezne uprave koji postoje za ispunjavanje raznih poreznih obveza. Specifični obrasci potrebni za pojedinca ili tvrtku ovise o njihovim jedinstvenim okolnostima, izvorima prihoda i odbicima. Preporučljivo je konzultirati službenu web stranicu Porezne uprave (www.irs.gov) ili potražiti profesionalni porezni savjet kako biste dobili točne i ažurne informacije u vezi s određenom poreznom upravom obrasce relevantne za vašu poreznu situaciju.

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