On June 14, 2023, the IRS and Treasury issued proposed regulations (the “Proposed Regulations”) under two novel provisions of the Inflation Reduction Act of 2022 (the “IRA”) designed to promote capital investment in renewable...more
Historically, only taxpaying entities could take advantage of federal tax credits for renewable energy and other qualifying projects. Tax-exempt entities, such as municipal utilities and rural electrical cooperatives, as well...more
The Internal Revenue Service (“IRS”) has an active program of auditing tax-exempt bonds, and conducts those audits in a manner intended to ensure confidential information is not improperly disclosed. As part of those efforts,...more
In a recently released private letter ruling (Private Letter Ruling 201847001, or the “Ruling”), the IRS approved the use of a “floating equity” allocation method for exempt facility bonds issued to finance renovations to an...more
12/13/2018
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Introduction to Tax for Public Finance -
• What is the tax-exemption for state and local bonds?
• Types of tax-exempt bonds
• Overview of federal income tax requirements...
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For a variety of reasons related to arbitrage, it often is important to identify the "issue price" of tax-exempt bonds with precision and certainty. Existing Treasury Regulations generally allow the "issue price" of publicly...more