Effect Sequestration on Tax Credit Bond Payments
As part of the Federal budget sequestration, the Internal Revenue Service (“IRS”) has announced that, as of March 1, 2013, credit payments claimed on Form 8038-CP by issuers of certain tax credit bonds, including Build America Bonds, Recovery Zone Economic Development Bonds, Qualified School Construction Bonds, Qualified Zone Academy Bonds, New Clean Renewable Energy Bonds and Qualified Energy Conservation Bonds, may be subject to a reduction of 8.7%.
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.