On March 18, 2022, the IRS issued Revenue Procedure 2022-20, which permanently allows issuers of tax-exempt private activity bonds to hold TEFRA hearings via teleconference. Pursuant to § 147(f) of the Internal Revenue...more
The Internal Revenue Service (IRS) has released Revenue Procedure 2021-39, which extends the time period for telephonic Tax Equity and Fiscal Responsibility Act (TEFRA) hearings until March 31, 2022. In response to the...more
On August 31, 2021, the IRS issued Revenue Procedure 2021-39, which allows issuers of tax-exempt private activity bonds to continue to hold TEFRA hearings via teleconference through March 31, 2022. Pursuant to § 147(f) of...more
At the end of December, the Internal Revenue Service released the final regulations under Internal Revenue Code 147(f), which relate to public notice, hearing, and approval requirements for private activity bonds, which...more
In a very busy end of the year, the IRS provided two new bond regulations: The final public approval (TEFRA) regulations and proposed reissuance regulations....more
Treasury has released final regulations (the “Final Regulations”) relating to the public approval requirements for private activity bonds (aka the “TEFRA approval” process). The Final Regulations effectively track the...more
Last week, the IRS released proposed regulations (“Proposed Regulations”) relating to the so-called TEFRA public notice and approval requirement for private activity bonds. In general, the Proposed Regulations make it easier...more