Michela was a presenter at the NABL U webinar on IRS enforcement. Since the mid-1990s, the Internal Revenue Service enforcement efforts regarding tax-exempt bonds has become more robust. IRS enforcement comes through a variety of measures, but many times in the form of an audit. Responding to an audit is not an everyday occurrence for an issuer or conduit borrower, and bond counsel often plays an essential role in helping to navigate the process successfully.
Also of Interest
- New Private Activity Bond Provisions for Qualified Carbon Dioxide Capture Facilities
A new category of tax-exempt private activity bonds was created as part of the Infrastructure Investment and Jobs Act, enacted in November 2021, to encourage private investment in carbon dioxide capture facilities.
- Final Treasury Reissuance Regulations Addressing Modifications of Debt Instruments to Replace IBORs
This edition of the Hawkins Advisory describes recently released final Treasury Regulations providing guidance in connection with the discontinued Interbank Offered Rates.
- Tax-Exempt Bond Provisions Included in the Infrastructure Investment and Jobs Act
This Hawkins Advisory describes three tax-exempt bonds provisions included in the Infrastructure Investment and Jobs Act.
- 2021 Area Median Gross Income Figures
On March 25, 2021, the Internal Revenue Service released Revenue Procedure 2021-19, which contains information for issuers of single-family housing bonds and mortgage credit certificates related to the income limits.