Priority Guidance Plan 2009-2010
The IRS announced the release of the 2009 – 2010 Priority Guidance Plan. The plan contains 315 projects to be completed over a twelve-month period, from July 2009 through June 2010, and also addresses a variety of issues, including recent legislation, the current economic environment, and important international issues.
The joint Department of Treasury/Internal Revenue Service priority guidance plan for 2009-2010 contains the following items of interest to the tax-exempt bonds community:
- Notice on qualified forest conservation bonds under §54B as enacted by the Food, Conservation, and Energy Act of 2008.
- Guidance under §54A on tax credit bonds.
- Guidance under §54F on Qualified School Construction Bonds.
- Guidance under §54AA on Build America Bonds.
- Final regulations under §141, including allocation and accounting principles. Proposed regulations regarding allocation and accounting principles were published on September 26, 2006.
- Final regulations on public approval requirements for private activity bonds under §147(f).
- Proposed regulations on arbitrage investment restrictions under §148. Final regulations under §1397E on Qualified Zone Academy Bonds.
- Guidance on tax-exempt bonds issued in Midwestern and Hurricane Ike disaster areas.
- Final regulations on solid waste disposal facilities under §142. Proposed regulations were published on September 16, 2009.
- Guidance on a revised arbitrage exception for certain state guarantee funds under §148.
- Regulations under section 6109 regarding the use of preparer tax identification numbers (PTINs) by tax return preparers.