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Tax Credit Consulting: Qualified Zone Tax Credit Bonds Tewksbury MA

The interest rate on the Bonds is established daily by the Treasury Department. The Companies that receive the bonds receive their interest in the form of a tax credit that may be claimed on IRS Form 8860.

Ms. Marilyn M. Sanford (RFC®), EA, MBA
(978) 677-6511
218 Ames Hill Dr
Tewksbury, MA
Company
Ames Pond Tax & Financial Planning
Qualifications
Education: BA; MBA; Certificate in Financial Planning; Series 6, 7, 63 & 65 licenses; Mass Life, Health Insurance & Variable Annuities Licenses
Years of Experience: 13
Membership
IARFC
Services
Invoice, Retirement Planning, Tax Planning, Tax Returns, Stocks and Bonds, Mutual Funds, Annuities, Life Insurance, Medical Insurance, Education Plan

Data Provided by:
H&R Block
(978) 265-8505
716 MIDDLESEX ST STE 3
LOWELL, MA

Data Provided by:
Liberty Tax Service
(866) 871-1040
724 Chelmsford St
Lowell, MA

Data Provided by:
Camerlengo & Assoc Pc
(781) 245-3160
64 Albion St
Wakefield, MA

Data Provided by:
Master Tax And Lexington Driving School Inc
(781) 646-5000
142 Massachusetts Ave
Arlington, MA
Hours
7 Days a Week/Daily/Everyday

Data Provided by:
Mr. Paul R. Churchill (RFC®), MBA
(781) 386-1729
9 Danielle Drive
Danvers, MA
Company
Northeat Advisors
Qualifications
Education: MBA(Finance Concentration)Boston University ( Cert. in Financial Planning)
Years of Experience: 6
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Retirement Planning, Medicaid Planning, Tax Planning, Employee Benefits, Business Coach, Education Plan, Asset Protection, Compensation Plans

Data Provided by:
Liberty Tax Service
(866) 871-1040
370 Bridge St
Lowell, MA

Data Provided by:
Accuplus Financial Services Inc
(978) 251-0405
17 Dunstable Rd Ste A
North Chelmsford, MA

Data Provided by:
Potter & Co
(781) 246-1598
605 Salem St
Wakefield, MA

Data Provided by:
Jackson Hewitt
(978) 531-0707
86B Main Street
Peabody, MA

Data Provided by:
Data Provided by:

Tax Credit Consulting: Qualified Zone Tax Credit Bonds

Qualified Zone Tax Credit Bonds

Qualified Zone Tax Credit Bonds are a special type of tax credit available to banks, insurance companies, and other corporations actively engaged in lending money.

The Qualified Zone Tax Credit Bonds are also called Qualified Zone Academy Bonds, or QZABs. The credit was authorized by various pieces of tax legislation. The last one was the Working Families Tax Relief Act of 2004 which extended the program through 2005 with December 31, 2007 as the last day to issue bonds authorized in 2005. Qualified Zone Tax Credit Bonds are geared toward helping to provide financing for schools in low income areas.

The Government begins the program cycle by allocating around $400 million dollars in bonding authorization to the various States. This bonding allocation is determined based on the number of people in the State that are at the poverty level. The poorest States get the most allocation. Next, the State through its various qualified school districts issues bonds that may be purchased by Banks, Insurance Companies, or Corporations that engage actively in the business of lending money.

The interest rate on the Bonds is established daily by the Treasury Department. The Companies that receive the bonds receive their interest in the form of a tax credit that may be claimed on IRS Form 8860. The school districts that issue the bonds are not involved in the tax credit, of course, so the actual way of viewing their advantage is to understand that the Qualified Zone Academy Bonds are interest free bonds to the issuer.

The purchaser of the bonds receives interest, however. The interest is received in the form of the tax credit that may be taken directly off the taxes owed. The one disadvantage to the Qualified Zone Academy Bonds is that the benefit has no carry over and carry back provisions. The credit must be taken during the year it applies to or it is lost. This is not too much of a deterrent to most large lending institutions that wi...

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