The Annual Filing of the 2012 Form 1097-BTC, Bond Tax Credit, With the IRS in the First Quarter of 2013 Will Be Required. -- 11-MAY-2012
The annual filing of the 2012 Form 1097-BTC, Bond Tax Credit, with the IRS in the first quarter of 2013 will be required. (Previously, for 2011 and earlier years, filing of Form 1097-BTC was optional.) However, the Internal Revenue Service is waiving the requirement to furnish a quarterly report to the recipient (otherwise due on the 15th day of the second month following the close of the calendar quarter) if the final Form 1097-BTC is not available at least 60 days prior to that due date. Therefore, since as of May 11, 2012, the final form had not been released, and that May 11 date is not more than 60 days prior to the due date for the first quarterly report (May 15), filers who will ultimately be required to file a 2012 annual Form 1097-BTC with the IRS during the first quarter of 2013 are not required to furnish a report to the recipient for the first quarter of 2012. Further details will be provided on the final Form 1097-BTC and in its instructions. Drafts of Form 1097-BTC and the Instructions for Form 1097-BTC (along with most other IRS tax forms and instructions) are made available on IRS.gov (when possible) at IRS.gov/draftforms. The final Form 1097-BTC and its instructions will first be available at IRS.gov/form1097btc.
