New IRS Form 1097-BTC for Bond Tax Credits; 1097-BTC Software Makes it Easy to File.

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IRS Form 1097-BTC is a new form starting in 2012 that issuers of certain tax credit bonds use to report tax credit to the bond holders and the IRS.

1097-BTC Forms

1097-BTC Software

Our 1097-BTC software makes it easy to import from Excel, print and electronically filing IRS Form 1097-BTC quickly and easily.

IRS Form 1097-BTC is a new form starting in 2012 that issuers of certain tax credit bonds use to report tax credit to the bond holders and the IRS.

A bond is a type of loan in which the issuer will pay interest, usually at a fixed intervals, and the principal at a later date. Very often the bond is negotiable and the bond ownership can be transferred in the secondary market. Tax Credit Bonds (TCB) are a type of bond that offers the holder a federal tax credit instead of interest. The bond issuer maintains the responsibility to pay the principal on the bond. TCB's provide an interest-free loan for the issuer. In 2008, Congress amended the tax credit bond rules to permit tax credits to be sold separately from the related bond. This is known as "stripping" the tax credit and makes the debt instrument more attractive to investors.

There are two entities to keep in mind; there is the original recipient who is allowed a tax credit and there may exist a person or entity that received the tax credit and is now distributing the tax credit to someone else.

1097-BTC software at the site 1099fire.com makes it easy to file IRS Tax Form 1097-BTC by paper or electronically. Service bureau and mail house solutions are also available.

Paper Filing, Electronic filing, Service Bureau...

1097-BTC can be filed by paper or electronically to the IRS. “Our 1097-BTC software makes it easy to import from Excel, print and electronically filing IRS Form 1097-BTC quickly and easily”, said Erich J. Ruth, Technical Support for 1099FIRE, a market-leading provider of 1097-BTC software and services. Sample Excel templates can be found on the website 1099fire.com which will import into the 1099FIRE software or technical support can guide you through the process of importing by phone or email.

Electronic reporting of information returns eliminates the need to submit paper documents to the IRS. Electronically filed information may be submitted to the IRS 24 hours a day, 7 days a week. “Electronic filing of IRS Tax Form 1097-BTC is easy to do”, said Ruth and “The system is updated each year to reflect the format changes that are made by the IRS“. 1099FIRE software creates original, replacement, corrected and test files in the format required by the IRS for electronic transmission.

1099FIRE is the only company to offer One-Touch E-Filing. Just click a button and the software will automatically log in and upload your file to the IRS FIRE system. You will receive verification within seconds of receipt of your file.

Filing information returns can be stressful. 1099FIRE can eliminate the stress of filing information returns by electronically filing in a timely manner and at an affordable price. 1099FIRE will beat any competitor price; attain a quote for any service from any competitor and 1099FIRE will provide same, if not more complete, service at a lower price.

Looking Ahead...

Furnish Copy B of Form 1097-BTC with the aggregate total amount of allowable credits to the recipient by January 31, 2013.

File Copy A of Form 1097-BTC with the IRS by February 28, 2013. If you file electronically, the due date is April 1, 2013.

About 1099FIRE:

1099FIRE is dedicated to providing feature-rich 1042-S, 1097-BTC, 1098, 1099, 3921, 3922, 5498, 8027, 8955-SSA, W-2G and W-2 software. Import, print and eFile 1099 forms the quick and easy way!

1099FIRE is a market-leading provider of information-reporting solutions and services for 1099, W-2 and 1042-S filers. 1099FIRE develops and markets a comprehensive range of products that enables any size business or institution to effectively comply with all 1099, W-2 and 1042-S filing requirements.

Have 1099FIRE Service Bureau handle all of your printing/mailing and IRS filing needs - it's secure, affordable and stress free!

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Erich J. Ruth

Robert Huffman
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