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
- Federal Legislation Moves SOFR Closer
This edition of the Hawkins Advisory discusses the recent federal legislation signed into law on March 15, 2022.
- 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.