Internal Revenue Bulletin: 2010-43
October 25, 2010
Final regulations under section 1397E of the Code provide guidance to issuers that issued qualified zone academy bonds (QZABs) on or before October 3, 2008, relating to expenditures of bond proceeds, arbitrage, information reporting, remedial actions for situations when QZAB proceeds are not used for a qualified purpose, and certain other miscellaneous rules.
Final regulations under section 6050W of the Code relate to information reporting requirements, information reporting penalties, and backup withholding requirements for payment card and third party network transactions.
This notice provides transitional relief from the information reporting requirements in section 6045A of the Code that apply to transfers of securities by brokers and other custodians.
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