WASHINGTON — A tax-exempt bond advisory panel to the Internal Revenue Service has recommended that the agency publish three documents to provide guidance to issuers of small governmental bond issues and conduit borrowers of small 501(c)(3) nonprofit bond issues about complying with arbitrage rebate and yield restriction requirements.

The recommendations were presented to acting IRS Commissioner Danny Werfel at a meeting here on Thursday by the Advisory Committee on Tax-Exempt and Government Entities and its five subcommittees, including one on tax-exempt bonds.

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