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.

 

Add Your Name to the VIP List

Add your name to the Bond Attorneys' Workshop VIP list by registering today! We’re cranking up the volume at BAW this year, and we want to make sure that you are there to be a part of it.  During the Workshop, you’ll hear from leading practitioners from around the country, government officials and regulators, and industry experts on current trends and developments in tax and securities law. They will discuss what is being proposed and how the industry needs to react to these changes, and how as a practitioner you can better equip yourself with the information needed to succeed.

Join more than 1,000 of your colleagues in Chicago this October. 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.

Read more