During his six-year tenure with the Treasury Department, Watson has had primary responsibility for published guidance and legislative issues relating to tax-exempt
bonds and the new markets tax credit.
1366(a) and 1367(a) permitted the corporation's DOI income to be included in his basis as tax-exempt
income and that the reduction in tax attributes should occur at the shareholder level.
Fitch views the credit quality of the tax-exempt
bonds to fall below that of the taxable bonds.
UCC initiated a Tax Court petition for a declaratory judgment that it qualified as a tax-exempt
organization and an eligible charitable donee.
This securitization was developed under Freddie Mac's Tax-Exempt
Bond Securitization (TEBS) program.
The proposed regulations provide that a taxable corporation that transfers all (or substantially all) of its assets to one or more tax-exempt
entities is required to recognize gain or loss as if the assets transferred were sold at their FMVs.
512(b), passive income from either alternative or direct investments generally does not constitute unrelated business taxable income (UBTI) to tax-exempt
entities, this income, even if it is passive, may be classified as UBTI under Sec.
After all, I don't assist clients with creating tax shelters, and I don't deal with tax-exempt
In mid May, the Texas Office of the Comptroller sent a letter to Americans United for Separation of Church and State announcing it had granted tax-exempt
status to the Church of Freethought, a Dallas-area congregation.
IDA will issue about $930 million in tax-exempt
and taxable bonds to build the new stadium for the Yankees.
NABL and other groups, including members of the recycling community, have sought clarification of the no-value test since the mid- 1990s, when the IRS performed a number of audits of borrowers that used tax-exempt
bonds to finance recycling facilities.
Audits of tax-exempt
bonds can create substantial financial exposure to companies.
organizations are exempt from federal taxation on their principal activity, they must pay tax on any unrelated business income.
The Internal Revenue Service ruled preliminarily that the Los Angeles Unified School District misrepresented the $91 million in securities needed to finance the Belmont Learning Center as tax-exempt
, leaving the district facing millions of dollars in liabilities, the Daily News learned Wednesday.
The two principal tools used to launch affordable assisted living projects are the federal Low Income Housing Tax Credit (LIHTC) and tax-exempt
bond financing, typically referred to as indirect subsidies.