Deadline For Comments On Alternative Method For Determining Purchase Price Limits For Single-Family Bonds Under §143 Of The Internal Revenue Code
Purchase price limits for single-family bonds have been based on FHA limits since 2004. As was the case in 2011, the Internal Revenue Service (“IRS”) is considering a substantial change to the data source used to determine such limits. Please be advised that the deadline for comments on the alternative method for determining average area purchase price safe harbor limits set forth in IRS Rev. Proc. 2012-25 is July 15, 2012 as previously noted in our April 25, 2012 Hawkins Advisory. To the extent you have concerns about changes to the methodology for purchase price limits, we urge you to submit comments by the deadline.
Also of Interest
- Revised IRS Form 8038-CP
The Internal Revenue Service released a revised version of Form 8038-CP (Return for Credit Payments to Issuers of Qualified Bonds) dated January 2020.
- Guidance from Treasury regarding USD LIBOR Phase-Out
The Hawkins Advisory discusses recently published Proposed Treasury Regulations that provide guidance as to the ability of parties to variable rate debt and other contracts that currently rely on LIBOR as an interest rate benchmark to alter the documents for these transactions for the purpose of incorporating interest rates reflective of other reference rates. The Advisory also reviews the status of other regulatory efforts to prepare the capital markets to transition from broad reliance upon LIBOR.
- Michela Daliana Honored as a 2019 Northeast Women in Public Finance Trailblazer
Michela Daliana was named a 2019 Trailblazer by the Northeast Women in Public Finance for her keen leadership and mentoring women across the industry.
- New Current Refunding Guidelines for Bonds Issued Pursuant to Special Authorizations
On May 22, 2019, the Internal Revenue Service released Notice 2019-39. The Notice provides guidance on the issuance of tax-exempt state and local bonds and tax-exempt Indian tribal government bonds in current refunding issues...