Internal Revenue Manual (IRM) Materials Relating to Tax Exempt Bonds
The freely available Adobe Acrobat Reader software is required to view, print, and search the items listed below.
IRM 4.81.1 TEB Program
This manual section outlines the Tax Exempt Bonds (TEB) program responsibilities in the oversight, compliance and education related to arrangements that involve debt instruments or obligations of States, their political subdivisions and other entities entitled to issue tax-exempt and tax credit obligations.
IRM 4.81.2 Examination Selection
This manual section provides procedures for the TEB classification program through which examinations pertaining to tax-exempt bond transactions are selected in accordance with inventory requirements.
IRM 4.81.5 Examination Process (Sections 1 - 7.6) (Sections 7.7 - 9.6)
This manual section provides the basic techniques that are intended to ensure that a uniform approach is taken when conducting TEB examinations. The following guidance on general examination techniques and procedures used to conduct examinations of tax-exempt bonds and tax credit bonds is provided for TEB examiners. The procedures outlined within this manual are designed to be used as a guide for TEB examiners when examining a Form 8038 series information return and are not intended to be all inclusive.
IRM 4.81.5 Interim Guidance on New Case Closing Procedures
Tax Exempts Bonds issued interim guidance effective October 18, 2016 to update IRM 4.81.5 regarding New Case Closing Procedures.
IRM 4.81.6 Closing Agreements
This manual section sets forth procedures under which the IRS will enter into closing agreements with governmental issuers and other parties to tax-exempt bond transactions with respect to the application of federal tax law requirements under the Code and corresponding Income Tax regulations (the " Regulations" or "ITR" ) in order to correct any compliance failures and preserve the tax-exempt status of the bonds. These procedures seek to ensure consistency of treatment and to encourage increased voluntary compliance throughout the municipal bond industry.
IRM 4.81.7 Bondholder Referrals
This manual section provides guidance for TEB examiners to refer bondholders in the event of an adverse bond examination.
IRM 4.81.10 Quality Review
This manual section provides guidance and procedures for the systematic review of cases for the purpose of measuring quality and to identify examination deficiency trends.
IRM 4.81.11 Referral Program
This manual provides procedures for the TEB Referral Program for Tax Exempt Bonds. It provides guidance for handling information items and referrals received or developed by TEB that relate specifically to compliance issues.
IRM 4.82.1 Examining Qualified Small Issue Bonds
This manual section provides procedures for examining qualified small issue bonds under section 144(a) of the Internal Revenue Code
IRM 7.2.3 Tax Exempt Bonds Voluntary Closing Agreement Program
This manual section provides procedures for the voluntary closing agreement program for tax-exempt bonds and tax credit bonds known as TEB VCAP.
IRM 22.42.1 Tax Exempt Bonds Customer Education and Outreach
This manual section provides procedures for the Tax Exempt Bonds Customer Education & Outreach ("TEB CE&O" ) program.