Business Tax Recovery Logo


Tax Credit Consulting: Qualified Zone Tax Credit Bonds Wasilla AK

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.

Liberty Tax Service
(866) 871-1040
11409 Business Blvd # 1201
Eagle River, AK

Data Provided by:
Hutton & Hauber Tax & Accounting Services Inc
(907) 789-3091
9340 Glacier Hwy
Juneau, AK
 
Jdnlzt
eIrNVxVLvHVJq
tcPtQmiWJEW
IvxsdvyZVW, AK
Prices and/or Promotions
oXkTtOpjGonCMSE

H&R Block
(907) 338-4848
7731 E NORTHERN LIGHTS BLVD
ANCHORAGE, AK

Data Provided by:
H&R Block
(907) 561-5113
3555 ARTIC blvd C1 & C2
ANCHORAGE, AK

Data Provided by:
Mr. Micah Vincent Shilanski (RFC®), CFP, CSA
(907) 278-1351
431 W. 7th Avenue Suite 100
Anchorage, AK
Company
Shilanski & Associates, Inc.
Qualifications
Years of Experience: 9
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Retirement Planning, Tax Planning, Tax Returns, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, Mortgage Loans, CommOptions, Collectable Coins , Precious Metals, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Education Plan, Healthcare Accounts, BuySell

Data Provided by:
WRConkey's Accounting Service
(907) 717-5233
200 W 34th # 852
Anchorage, AK
Prices and/or Promotions
Fixed

H&R Block
(907) 336-1477
9220 LAKE OTIS pkwy UNIT A-1
ANCHORAGE, AK

Data Provided by:
H&R Block Inside Eastview Center
(907) 337-1040
5520 LAKE OTIS PKWY STE 102
ANCHORAGE, AK

Data Provided by:
H&R Block
(907) 646-9864
3101 PENLAND PARK STE H-2
ANCHORAGE, AK

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...

Click here to read the rest of this article from BusinessTaxRecovery.com