Cornerstone Research Experts in Focus: Andrea Eisfeldt
Spending New York’s $4.2 Billion Environmental Bond Funds
Podcast: Credit Funds: Credit Default Swaps in the Distressed Limelight
[WEBINAR] Developing FEMA Compliant Procurement Procedures
2017 West Virginia Legislative Update For Employers
How Leading Philippine Companies are Using Bonds to Their Advantage
Can I collect my judgment if the other side is appealing?
Bill on Bankruptcy: US Airways Need a Merger More than AMR
Bill on Bankruptcy: Why is Kodak's Stock Soaring?
Bill on Bankruptcy: How Purchasers of AMR Stock Made a Killing
Bill on Bankruptcy: Rakoff Reverses Himself in Madoff Case
Bill on Bankruptcy: MF Global Creditors Undeterred by Low Value
Bill on Bankruptcy: Will 2013 Be Kind To The Bankruptcy Bar?
Bill on Bankruptcy: Big Surprises For AMR, MF Global Creditors
On November 24, 2023, the IRS released PLR 202347001, ruling that certificates issued from an “exchange trust” qualify as stripped bonds or stripped coupons within the meaning of Code Section 1286. The taxpayer in the...more
Part 1: Permitted Investments and Compliance - The self-directed individual retirement account (IRA) is an increasingly popular option for an IRA account owner, especially those owners who have significant net worth and...more
You may already know about many of the amazing things the North Shore Land Alliance has done to protect our beloved Long Island. The mission of the Land Alliance is: “To conserve and safeguard Long island’s natural and...more
The pandemic’s impact may be subsiding, but businesses are encountering new challenges across the globe, including the potential for an economic retrenchment, rising interest rates, shifting regulatory and litigation...more
Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of September 19, 2022 – September 23, 2022....more
The Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) requires a public hearing as a form of public approval for certain types of tax-exempt private activity bonds. Thanks to COVID-19, holding a hearing is easier than...more
On March 28, 2022, the US Department of the Treasury released the Fiscal Year (FY) 2023 Revenue Proposals and Green Book, which describes the tax proposals in the Biden administration’s FY 2023 budget (2023 Budget Proposal)....more
For public hearings held on or after March 18, 2022, new Revenue Procedure 2022-20, released by the Internal Revenue Service, allows issuers and approving governmental units to conduct telephonic public hearings for...more
On November 16, 2021, the Internal Revenue Service (IRS) publicly previewed a draft of a revised Form 8038-CP (Return for Credit Payments to Issuers of Qualified Bonds), along with updated filing instructions and a new...more
The Internal Revenue Service (IRS) released Revenue Procedure 2020-44 to assist the market's transition from the London Interbank Offered Rate (Libor) and other interbank offered rates (IBORs) to alternative reference rates...more
As described in “Tax-Exempt Advance Refunding Bonds: History and Legislative Updates” by Caitlyn Smith Burchfield, the Tax Cuts and Jobs Act of 2017 bans the issuance of tax-exempt advance refunding bonds after December 31,...more
Prior to January 1, 2018, Section 149(d) of the Internal Revenue Code (26 U.S.C. § 149) and the accompanying Treasury Regulations allowed the issuance of tax-exempt advance refunding bonds. According to that section, a bond...more
Presented below is our summary of significant Internal Revenue Serve (IRS) guidance and relevant tax matters for the week of March 22, 2021 – March 26, 2021... March 22, 2021: The IRS issued Notice 2021-22, providing...more
According to the IRS website, the sequester reduction rate applied to payments made to issuers of direct pay tax credit bonds in fiscal year 2021 will be 5.7 percent. This percentage will apply to all subsidy payments...more
The IRS provided much-awaited relief for issuers seeking to do a public hearing for their bonds amidst the current pandemic situation. The IRS guidance, Revenue Procedure 2020-21, permits a public hearing to be held by...more
States, municipalities and 501(c)(3) organizations (Issuers) likely will have to incur significant expenses in their fight against COVID-19. Even if Issuers have reserves available for these costs, there are a few different...more
Many clients have been asking questions relating to the current market challenges with VRDOs and CP (high interest rates and lack of demand). The discussion below was drafted to provide some basic information and analysis...more
Despite political and economic uncertainties, markets and deal activity were resilient in 2019, and strong fundamentals remain in place heading into 2020. Companies continue to face a challenging litigation and enforcement...more
Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of January 13 – 17, 2020. January 13, 2020: The IRS published an information letter relating to the...more
With all of the talk about the need for infrastructure legislation, public-private partnerships (or “P3s”) are receiving increased national attention. What exactly constitutes a P3 is an ever-evolving question, and the...more
According to the IRS website, the sequester reduction rate applied to payments made to issuers of direct pay tax credit bonds in fiscal year 2020 will be 5.9 percent. This percentage will apply to all subsidy payments...more
IRS Notice 2019-39 sets forth certain requirements for preserving the tax-exempt or tax-advantaged status of current refunding bonds that are issued to refinance bonds that were originally issued under targeted bond programs....more
The IRS has released a Private Letter Ruling that approves a simplified method of calculating the remaining economic life of property financed with exempt facility bonds. Section 142 of the Internal Revenue Code (the “Code”)...more
On April 3, the IRS issued Revenue Procedure 2019-17 (Rev. Proc.), offering additional guidance on the public use requirement applicable to multifamily housing bonds under Section 142(d) of the Internal Revenue Code. This new...more
Final TEFRA regulations issued by the IRS were published in the Federal Register on December 31, 2018. They apply to qualified private activity bonds (e.g., qualified 501(c)(3) bonds and exempt facility bonds) issued pursuant...more