TaxNewsFlash-Exempt Organizations

October 21, 2008
No. 2008-103

PRINTABLE VERSION

Text of Final Regulations Relating to Certain Tax-Exempt Bond Payments

The Treasury Department and IRS recently released for publication in the Federal Register final regulations (T.D. 9429) providing guidance for issuers of tax-exempt bonds.

The final regulations modify the standards for treating certain payments in lieu of taxes, or other tax-equivalency payments, as generally applicable taxes for purposes of the private security or payment test under section 141 (i.e., tests concerning private activity bonds).

The final regulations are effective on Friday, October 24, 2008—which is the date when they are scheduled for publication in the Federal Register.

For an electronic version of the final regulations (21 pages): T.D. 9429

For more information, contact Rick Speizman, National Partner-In-Charge, KPMG’s Exempt Organizations Tax Practice (ExoTax), at (202) 533-3084 or rspeizma@kpmg.com

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