IRS

The Texas Permanent School Fund's bond guarantee program, capped at $117.32 billion under federal law, reported projected available capacity was only about $3.9 billion as of June 30.

The Internal Revenue Service has reinstated Ham Lake, Minnesota based charter school operator Parnassus Building Company's tax-exempt status after it was revoked in May 2022.

Scammers are masquerading as the IRS’ Tax Exempt and Government Entities Division to try and get issuers and borrowers to disclose confidential information.

The disclosure from the Hampton County School District in Varnville, South Carolina provided no details on the status of the bonds, but the form itself indicates there is an audit underway.

The development could potentially affect the tax-exempt status of bonds issued for the school, though it will likely be resolved before that happens.

The city has received a notice from the IRS seeking evidence bond proceeds were used on the construction, rehabilitation or repair of public school buildings.

The audit was brought on by the Internal Revenue Service in September 2021 in connection with Series 2013B bonds.

The Internal Revenue Service will permanently allow TEFRA hearings to be held remotely.

The city has succeeded in defending the tax-exempt status of a series of bonds issued in 2013 against IRS claims that they should be retroactively taxable.

The IRS has entered into a closing agreement with the City of Alpharetta following its VCAP request stemming from the sale of a bond-financed conference center.