IRS

The administrative shuffle also means that Edward Killen, who had been promoted to Acting Commissioner of TEGE, will return to the role of deputy.

Monday’s announcement came at the halfway mark of fiscal 2021 after only one other priority -- arbitrage violations -- had been announced since the Oct. 1 start of the federal fiscal year.

Other detention centers and prisons operating near the U.S.-Mexico border have undergone similar IRS audits the last couple of years in which issuers have agreed to convert their bonds from tax-exempt to taxable.

The public notice filed on EMMA is the first report by any issuer in calendar 2021 of any type of IRS audit communication.

Nineteen states recognized delayed payments due to last year's IRS delay in the tax deadline to July 15.

Because the IRS changed filing dates for income tax returns as a result of the coronoavirus , Georgia's net tax collections surged 42% last month.

An influential voice said this week that an increase in the cost of private letter rulings is inconsistent with the Taxpayer Bill of Rights adopted by the IRS in 2014.

Responsible, limited changes in the tax code and IRS regulations could go a long way toward economic recovery where needed most to deal with the pandemic.

The IRS Tax Exempt Bond unit closed nearly 300 cases instead of attaining its earlier goal of around 500 cases.

This pandemic-related waiver from a handwritten signature extends through June 30 of this year.

Bond attorneys said the new rules fill in some holes because the IRS previously only had a process for tax-exempt bonds.

The National Association of Bond Lawyers wrote to the IRS in November 2019 asking for a significant reduction in the fee.

The Treasury and IRS have only granted a few of the National Association of Bond Lawyers' requests for pandemic-related regulatory relief.

Twin Cities International School and MIMCS Building Company announced the reversal in a public notice filed Monday.

“This is a preliminary determination, not a proposed adverse determination or a final determination,” the county said.

The IRS will post quarterly updates of its enforcement strategy on the webpage of the Tax Exempt and Government Entities Division-Compliance Programs and Priorities.

The city of Alpharetta wants to repurpose $24.72 million in bonds issued in 2016 by the Development Authority of Alpharetta.

Sinking fund overfunding is the primary driver of these audits, with the IRS making sure the overfunding does not result in an arbitrage situation.

Allyson Belsome, program manager of the IRS Office of Tax-Exempt Bonds spoke to members of the National Association of Bond Lawyers.

Johanna Som de Cerff of the IRS Office of the Associate Chief Counsel spoke during an online presentation to the National Association of Bond Lawyers.