Issuers of state and local bonds use Form 8038-R to request a refund of amounts paid with Form 8038-T, Arbitrage Rebate, Yield Reduction, and Penalty in Lieu of Arbitrage Rebate. Current Revision Form 8038-R PDF Recent Developments None at this time. Other Items You May Find Useful All Form 8038-R Revisions Revenue Procedure 2006-40, Administrative Appeal of Proposed Adverse Determination of Tax-Exempt Status of Bond Issue Revenue Procedure 2008-37 Series 8038 Tax Exempt Bond Forms Other Current Products