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Information for the Tax Exempt Bonds Community

T.D. 9150 [Remedial actions applicable to tax-exempt bonds issued by state and local governments]
This document contains final regulations on the exempt facility bond rules applicable to tax-exempt bonds issued by state and local governments. The regulations amend provisions in the current regulations permitting remedial actions for tax-exempt bonds.

Rev. Proc.2004-39 (Qualified residential rental projects)
This Revenue procedure sets forth procedures for determining whether a residential rental project is in compliance with the applicable set-aside requirements contained in section 142(d) during the qualified project period (as defined in section 142(d)(2)(A)).

Tax Exempt Private Activity Bonds Compliance Guide
This publication provides an overview for state and local government issuers and borrowers of bond proceeds of the general post-issuance rules under federal tax law that apply to municipal financing arrangements known as qualified private activity bonds.

About the TEB Program
Learn about the structure and operation of this office and find out how to contact the appropriate person to address your questions and concerns.

TEB Tax Kit
Find the tax forms, instructions, procedures and rulings you need in one convenient place.

REG-140492-02 [Definition of Solid Waste Disposal Facilities for Tax-Exempt Bond Purposes]
These regulations provide guidance to State and local governments that issue tax-exempt bonds to finance solid waste disposal facilities. These regulations also contain a notice of public hearing on these proposed regulations.

Revenue Procedure 2004-24
This revenue procedure provides guidance with respect to the U.S. and area median gross income figures that are to be used by issuers of qualified mortgage bonds in computing the housing cost/income ratio described in section 143(f)(5).

REG-121475-03 [Qualified Zone Academy Bonds]
These proposed regulations provide guidance on the maximum term, permissible use of proceeds, and remedial actions for Qualified Zone Academy Bonds.

Announcement 2004-29 [Application of Municipal Circular 230 to Municipal Bond Opinions - REG-122379-02]
Comments continue to be considered. Treasury and IRS announce that, in final regulations, the definition of tax shelter opinions will not apply, if at all, to written advice concerning municipal bonds rendered less than 120 days after the publication of such final regulations.

Notice 2004-21, 2004-11 I.R.B. 609 [Volume Cap Census Numbers for 2004]
Populations of the 50 states, District of Columbia, Puerto Rico and the insular areas are provided for purposes of determining the 2004 private activity bond volume cap under section 146, private activity bond volume limit under section 142(k)(5) and state housing credit ceiling under section 42(h).

Rev. Proc. 2004-18 [Single Family Average Area Purchase Price Safe Harbor]
This revenue procedure provides issuers of section 143 qualified mortgage bonds with (1) the nationwide average purchase price for residences located in the United States, and (2) average area purchase price safe harbors for residences located in statistical areas in each state, D.C. or territory.

Publication 4077 - Tax Exempt Bonds for 501(c)(3) Charitable Organizations
This publication provides an overview for state and local government issuers and 501(c)(3) tax exempt charitable organizations of the general post-issuance rules under the federal tax law that generally apply to municipal and financing arrangements commonly known as 501(c)(3) bonds.

FAQs regarding Record Retention Requirements
During the course of an examination, TEB agents request material records and information necessary to support a municipal bond issue's compliance with IRC section 103.

T.D. 9097 [Arbitrage Restrictions Applicable to Tax-Exempt Bonds Issued by State & Local Govts (Broker's Commissions)]
This document contains final regulations which affect issuers of tax-exempt bonds and provide a safe harbor for qualified administrative costs for broker's commissions and similar fees incurred in connection with the acquisition of guaranteed investment contracts or investments purchased for a yield restricted defeasance escrow.

Revised Tax Exempt Bonds Phase I Training Text Now Available Online!
This revised and updated publication provides an introduction to the federal taxation of governmental bonds and qualified private activity bonds. Modules examine the rules applicable to tax-exempt bonds, discuss the appropriate use of bond proceeds, and introduce the arbitrage, yield restriction and rebate concepts.

REG-146692-03 [Mortgage Revenue Bonds]
The Service has issued proposed regulations that provide guidance regarding the limitation on the effective rate of mortgage interest for purposes of mortgage revenue bonds issued by state and local governments. This document also contains a notice of public hearing (01/28/04) on these proposed regulations.

Revenue Ruling 2003-116 [No Portion of Bonds May Be Issued for Skyboxes, Airplanes, Gambling Establishments, Etc.]
The Service has concluded that a helicopter is not an airplane for purposes of IRC section 147(e), which provides in part that a private activity bond is not a qualified bond if any portion of the proceeds of such issue is to be used to provide an airplane.

REG-132483-03 [Remedial Actions for Tax Exempt Bonds]
The Service has issued proposed regulations that amend the final regulations that provide certain permitted remedial actions for tax-exempt bonds issued by state and local governments. This document also contains a notice of public hearing (11/04/03) on these proposed regulations.

T.D. 9085 [Arbitrage and Private Activity Restrictions Applicable to Tax Exempt Bonds Issued by State & Local Govts (Prepayments)]
This document contains final regulations on the arbitrage and private activity restriction applicable to tax-exempt bonds. These regulations affect issuers of tax-exempt bonds and provided guidance on the definitions of investment-type property and private loan to help issuers comply with the arbitrage and private activity restrictions.

Section 146 - Private Activity Bond Volume Cap Guidance
The Service has provided guidance to issuing authorities on procedures governing allocation of the private activity bond cap, assignment of the ceiling to other authorities, and correction of errors in filing forms to carry forward unused cap.

IRS Announces New Tax Exempt Bond Pilot Program to Mediate and Speed Up Resolution Disputes [June 3, 2003]
The Service has launched a pilot program to expedite the resolution of cases under examination in its Tax Exempt Bond organization. The IRS believes the program, which uses the services of trained mediators to help resolve factual disputes between bond issuers and the IRS, will provide significant benefits to both parties.

Revenue Ruling 2003-78 [Section 149(d), Advance Refundings]
The Service has concluded that bonds are considered advance refunding bonds within the meaning of IRC section 149(d)(5) if the issuer loans proceeds of the bonds to a governmental unit, and within 90 days of the date the loan is made, but more than 90 days after the issue date of the bonds, the governmental unit uses the proceeds to redeem any of its outstanding tax-exempt obligations.

New York Liberty Zone Bonds
Guidance concerning the New York Liberty Zone business employee credit, Qualified New York Liberty Bonds, and Liberty Advance Refunding Bonds.

Third Report of the ACT
The third report of recommendations of the Advisory Committee on Tax Exempt and Government Entities (ACT) on five issues concerning employee retirement plans, charities and other tax-exempt organizations, tax-exempt bond issuers, and federal, state, local and Indian tribal government bodies is now available.

Publication 4079 - Tax-Exempt Governmental Bonds Compliance Guide
This publication provides an overview for state and local governments of the key rules under the federal tax law that generally apply to municipal financing arrangements commonly known as governmental bonds.

New IRM Chapters Now Available!
New chapters of the Internal Revenue Manual which detail our administrative procedures, our small issue bond examination guidelines, and our closing agreement program are now available online.

CPE for FY 2003
A series of articles published in October 2002 as the Tax Exempt Bonds Continuing Professional Education (CPE) Technical Instruction Program for Fiscal Year 2003.

TEB Work Plan
Program guidance for implementing the Tax Exempt Bonds portion of the TE/GE Strategic and Program Plan for fiscal year 2004.

T.D. 9016 [Output Facility Final Regulations]
This document contains final regulations on the definition of private activity bonds applicable to tax-exempt bonds issued by state and local governments for output facilities. These regulations affects issuers of tax-exempt bonds and provide needed guidance for applying the private activity bond restrictions to output facilities.

Guidance on Mixed Use Output Facilities
This advance notice provides guidance regarding tax-exempt bonds that are issued for the government use portion of an output facility when that facility is used for both a government use and private business use.

Publication 3755 - Filing Requirements
TEB's first publication outlines the filing requirements for issuers of tax-exempt bonds, including Forms 8038, 8038-G and 8038-T.

More Topics for Tax Exempt Bonds
Information regarding the Voluntary Compliance Program, Outreach & Educational Services, TEB Tax Kit, Private Letter Rulings, TEB CPE Texts, TEB FAQs and Miscellaneous Training Materials.

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