bond-basics

Tax Cuts and Jobs Act (TCJA) of 2017

Congress passed the Tax Cuts and Jobs Act (TCJA) in 2017. The large tax bill passed under reconciliation rules made major changes to the Internal Revenue Code (IRC), including the elimination of tax-exempt Advance Refunding Bonds.

See Also

Code (Internal Revenue)

The Internal Revenue Code of 1986, as amended and in effect on the date of issuance of the bonds.

Advance Refunding

A type of refunding transaction in which the refunding bonds are issued more than 90 days before the redemption or final maturity, whichever is earlier, of the refunded bonds.

Related

IRS Form 1040 documents on a wooden table.
IRS Form 1040 documents on a wooden table.
  • News

Gearing Up for a Potential Tax Bill in 2025

Key provisions of the Tax Cuts and Jobs Act (TCJA) begin to expire at the end of next year, teeing up the likelihood of a major tax package in the…

  • Webinars
  • CLE Eligible

Opportunity Zones & Economic Development Project Financing

Panel intended to help public finance attorneys understand the basics of Qualified Opportunity Zones and how to discuss them with municipal and private sector clients who may also be including…

  • Comments

Letter on IRS PLR Fees (2019)

Request that the Internal Revenue Service (“IRS”) significantly lower the user fee it charges State and local governments for private letter rulings related to tax-advantaged bonds (the “User Fee”) and…

  • Comments

Requests for 2019-2020 IRS Priority Guidance Plan

Requested items for inclusion on the Internal Revenue Service’s (IRS) 2019-2020 Priority Guidance Plan.

  • Comments

Request for IRS Guidance on Refunding of Taxable Bonds

Request that the Office of Indian Tribal Governments/Tax Exempt Bonds (“ITG/TEB”) provide written guidance regarding the treatment of tax-exempt bonds issued to advance refund taxable bonds that are not tax-advantaged…

  • Reports and Resources

Ban on Tax-Exempt Advance Refundings: Now What

The Tax Cuts and Jobs Act (TCJA) passed by Congress and signed into law on December 22, 2017 prohibits the issuance of tax-exempt advance refunding bonds after December 31, 2017.…

Hudson Yards Rail Yards

Start with the Bond Basics