Released Regulatory Relief for Issuers of Certain Tax-Exempt Bonds
Treasury and the Internal Revenue Service released welcome temporary guidance addressing two of the many issues provoked by the COVID 19 pandemic.
Rev. Proc. 2020-21 permits issuers of private activity bonds to hold the public hearings required by the TEFRA rules by teleconference, expanding existing guidance requiring such hearings to be conducted in person.
Notice 2020-25 generally allows issuers of governmental bonds to purchase and hold their own tax-exempt qualified tender bonds and commercial paper during calendar year 2020, without causing such obligations to be considered extinguished for federal tax purposes.
It should be noted that the provisions set forth in both these measures apply to events taking place in calendar year 2020.
Bond Counsel in the Nation
Also of Interest
- 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.
- Hawkins Elects Robert Radigan to the Partnership
Hawkins Delafield & Wood LLP is pleased to announce the election of Robert Radigan to the Partnership effective January 1, 2021.
- Hawkins Served as Counsel to Four Bond Buyer Deal of the Year Winning Transactions
Hawkins is proud to have served as counsel on four financings that won The Bond Buyer deal of the year award for 2020.