The Need For Post-Issuance Written Tax Compliance Procedures
Pronouncements by the IRS in recent years have made it clear that issuers and borrowers of tax‐exempt bonds and other tax‐advantaged bonds should adopt effective post‐issuance written tax compliance procedures.
On July 1, 2011, the Internal Revenue Service (the “IRS” or the “Service”) released its Final Report on Governmental and Charitable Financings (the “Report”) summarizing data collected from two compliance questionnaire projects (collectively, the “Project”) which commenced in 2007.
Also of Interest
- 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.
- Average Area and Nationwide Purchase Price Safe Harbor Limits
This Hawkins Advisory relates toinformation of specific interest to single-family housing bond issuers regarding Average Area and Nationwide Purchase Price Safe Harbor Limits.