IRS Notice 2011-63 – Volume Cap and Timing of Issuing Bonds
On August 3, 2011, the Internal Revenue Service (“IRS”) released Notice 2011-63 (the “2011 Notice”), providing supplemental guidance on how to determine when State and local bonds, specifically bonds issued pursuant to a draw-down loan or issued pursuant to a commercial paper program, are considered “issued” for purposes of volume cap limitations under section 146 of the Code. The 2011 Notice amends and supplements Notice 2010-81 that was released November 23, 2010 (the “2010 Notice”).
Also of Interest
- Tax-Exempt Bond Provisions in the Conference Committee Version of H. R. 1
This issue of the Hawkins Advisory describes provisions affecting tax-exempt bonds and tax credit bonds that are included in the version of the Tax Cuts and Jobs Act approved on December 15, 2017 by a conference committee.
- Tax-Advantaged Bond Provisions In Senate Tax Bill
This edition of the Hawkins Advisory describes provisions affecting tax-exempt bonds and tax credit bonds that are included in the version of the Tax Cuts and Jobs Act passed by the U.S. Senate on December 2, 2017.
- Tax Advantaged Bond Provisions In House And Senate Tax Bills
This issue of the Hawkins Advisory describes the recent Tax reform proposal.
- New IRS Audit Procedures
Hawkins Advisory describes the changes made by the IRS Tax Exempt and Governmental Entities division to the new procedures for conducting audits of tax-exempt and tax advantaged bonds.