Final Allocation & Accounting Regulations under Section 141

Hawkins Advisory

This issue of the Hawkins Advisory describes the Treasury Regulations promulgated under section 141 of the Internal Revenue Code of 1986, allocating the proceeds of tax-advantaged bonds to assets or portions of assets and accounting for the use of such assets or portions thereof.

On October 27, 2015, the final allocation and accounting regulations were published in the Federal Register. These final regulations address situations in which facilities financed with the proceeds of tax‚Äźadvantaged bonds* are used in both “qualified” and “unqualified” uses, as such terms are described below.

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...