Proposed regulations - Arbitrage rebates, restrictions concerning tax-exempt bonds 

September 13:  The Treasury Department and IRS today released for publication in the Federal Register two sets of proposed regulations that concern arbitrage rebates and restrictions with respect to tax-exempt and other tax-advantage bonds.
  • REG-148812-11 [PDF 68 KB] provide guidance on the recovery of overpayments of arbitrage rebate on tax-exempt bonds and other tax-advantaged bonds, and include a deadline for filing a claim for an arbitrage rebate overpayment as well as certain other rules.
  • REG-148659-07 [PDF 131 KB] concerns the arbitrage restrictions under section 148 with respect to tax-exempt bonds and other tax-advantaged bonds, and proposes to amend existing regulations to address certain current market developments, simplify certain provisions, address certain technical issues, and make the regulations more administrable.

Comments on either set of proposed regulations are due by a date that is 90 days after publication of these proposed rules in the Federal Register on Monday, September 16, 2013.




©2013 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.


The KPMG logo and name are trademarks of KPMG International.


KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever.


The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.


Direct comments, including requests for subscriptions, to us-kpmgwnt@kpmg.com.
For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at:

+ 1 202 533 4366

1801 K Street NW
Washington, DC 20006.

Share this

Share this

Subscribe

Current and future KPMG clients may subscribe to TaxNewsFlash email alerts.


Email your contact information.

TaxNewsFlash-United States by year