IRS

Losing its 501(c)(3) status could cost Harvard $500 million annually.

The IRS has issued a preliminary determination that educational and general revenue bonds issued in 2018 by the University of Rhode Island are taxable due to alleged noncompliance with requirements of Section 149(g).

Native American Tribes are working their way through Congressional committees looking for support on legislation that would allow the tribes to issue municipal bonds using the same rules as state governments.

Audit activity in the municipal market ebbs and flows with the IRS budget.

The IRS finalized tax code regulations that date back to the financial crisis of 2008 that govern the retirement and re-issuance of tax exempt bonds by state and local governments.

Budget battles in the new administration will lean toward further cuts to the IRS budget.

The Hampton County School District in Varnville, South Carolina has won its dispute over the tax-exempt status of Series 2010 general obligation bonds.

The Office of Tax-Exempt Bonds has been staffing up, IRS officials said at the National Association of Bond Lawyers conference in Chicago.

NAFOA is supporting passage of the Tribal Tax & Investment Reform Act, which would free up tribal bond issuance.

The saga dating back to last year appears to be concluded with a settlement.