IRS Clarifies Effective Date in Non-Issue Price Arbitrage Regs

 

The IRS has sent to the Federal Register for publication on Monday, August, 14, 2017, a correction to clarify the effective date in the non-issue price arbitrage regulations published in the Federal Register July 18, 2016.  The correction adds regulation section 1.148-6(d)(3)(iii)(A) to the list of provisions that are effective for bonds sold on and after October 17, 2016.
 
The correction is available here.

 

Did You Miss BAW Last Year?


Last year, the Bond Attorneys' Workshop was packed with outstanding and educational panel sessions taught by top industry speakers including government regulators and representatives. It also gave attendees the opportunity to connect with their peers from across the country.  However, something was missing...your participation!

We would like to see you at this year's BAW on October 4-6 at the Fairmont Chicago, which once again will feature a large variety of educational courses, including master classes and refresher sessions, on timely and important industry topics.
Join us at this year’s Bond Attorneys’ Workshop. Register today!

NABL Submits Comments on Proposed Political Subdivision Regs

On July 31, NABL submitted comments in response to Notice 2017-38 that, pursuant to Executive Order 13789, identified significant tax regulations issued on or after January 1, 2016 that (i) impose an undue financial burden on U.S. taxpayers, (ii) add undue complexity to the Federal tax laws, or (iii) exceed the IRS’ authority.  Eight regulations were identified, including the proposed regulation on the definition of political subdivision. Under Executive Order 13789, the Treasury Department must submit a report to the President by September 18, 2017 specifying the actions it will take to mitigate the burdens identified in Notice 2017-38.  Notice 2017-38 requested public comment on what steps the Treasury Department should take.

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