IRS

Municipal bond market experts want clarification from the IRS on a few regulations and expect the agency to move ahead with its new data driven audit process.

A tribal government specialist has replaced Allyson Belsome as head of the group responsible for muni bond audits.

Public power providers can apply through June 19, 2018 to issue a total of $379.5 million of New CREBs.

Treasury, IRS concerns remain that some political subdivisions are controlled by developers.

Bond attorneys expressed dismay the public notice requirement would remain 14 days.

Some lawyers like the more targeted process, others have concerns,

Treasury and the IRS said they may propose more targeted guidance on political subdivisions.

IRS examiners will focus on compliance with arbitrage, PAB requirements for munis.

The proposed rules would be updated to cover all PABs and recognize electronic communications.

The private letter ruling from the IRS concludes a city commuter rail division is a political subdivision that can issue tax-exempts.

Posey County, Ind., agreed to give a developer tax increment revenues to repay its bonds.

IRS said its new deadlines for claims were “in the interest of sound tax administration.’’

GFOA says the political subdivision rule would “add extensive and additional federal requirements.''

PAB allocation procedures differ among states; IRS only tracks these bonds on a per project basis.

The makeup and mission of the IRS advisory committee has changed.

Former head of the IRS tax-exempt bond office says bonds for D.C. P3 deal never should have been issued.

The SEC's query followed the start of an audit that led the IRS to find the bonds were taxable.

The IRS has closed another audit of jail bonds after they were converted to taxable.

A letter-ruling shows the IRS is flexible and helpful to a public utility.

The rules would be overly burdensome, restrictive, costly, and would hamper infrastructure projects.