Client Alert
The Internal Revenue Service generally requires issuers (or their agents) to file Form 1097-BTC, Bond Tax Credit, for each tax credit provided by the following tax credit bonds: (i) Clean Renewable Energy Bonds, (ii) New Clean Renewable Energy Bonds, (iii) Qualified Energy Conservation Bonds, (iv) Qualified Zone Academy Bonds and (v) Qualified School Construction Bonds. Filing of the form may also be required for Gulf tax credit bonds. The form is generally required to be filed for all outstanding tax credit bonds listed above and not just for future bond issues.