Arbitrage

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Requested items for inclusion on the Internal Revenue Service’s (IRS) 2024-2025 Priority Guidance Plan.

Two recent IRS releases offering relief and promoting financial stability in uncertain economic times address regulatory exceptions for bond guarantees and the treatment of Demand Deposit State and Local Government…

A document that verifies the mathematical accuracy of information needed to support bond counsel’s conclusions that an advance refunding bond issue is a tax-exempt bond issue and/or that refunded bonds…

A requirement imposed under the Code to pay to the Internal Revenue Service an amount equal to the arbitrage earned on tax-exempt bonds.

The amount of gross proceeds of a tax-exempt bond issue that may be permanently invested at a materially higher yield than the yield on the tax-exempt bonds equal to the…

The custodian of funds held in the escrow fund and responsible for holding and managing the escrow fund, including any investments in the escrow fund, up to and including the…

Trust account established in the escrow deposit agreement that holds cash, investments, usually obligations of the federal government or, sometimes, federal agencies, or both, all of which are pledged to…

Document used to defease refunded bonds by establishing an escrow fund during a refunding.

For tax purposes, a twelve-month period which ends on a date selected by the issuer for the purpose of the arbitrage rules.

Certificate of a responsible officer of the Issuer and/or Borrower certifying compliance with the limitations on Arbitrage imposed on the Tax-Exempt Bonds by the Internal Revenue Code.

Tax-exempt bonds violating yield restrictions imposed by Section 148 of the Internal Revenue Code (IRC) and Treasury Regulations promulgated thereunder.