Tax Exempt Bonds Phase III Training Texts

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Lesson 1 – Refundings
This lesson provides a detailed review of both current and advance refundings, including the rules in Section 149(d) that apply to advance refundings.

Lesson 2 - Reissuances
This lesson will discuss the reissuance rules, the consequences of reissuance, and the consequences of extinguishment of bonds.

Lesson 3 - Pooled Financing Issues
This lesson discusses the rules for pooled financing issues. This lesson does not discuss the rules for mortgage and student loan pooled issues.

Lesson 4 - TEB International U.S. Territories/Possessions
This lesson discusses how nongovernmental organizations formed in a U.S. territory are treated differently for tax purposes from those formed in a U.S. state or the District of Columbia and those formed in a foreign country.

Lesson 5 – Fraud
This lesson provides an overview of fraud, defines and details the elements of fraud, and outlines procedures that Examiners should follow when a case appears to be potentially fraudulent.

Lesson 6 – Section 6700 Penalty
This lesson discusses the penalty imposed in Section 6700 as it applies to transactions within the scope of enforcement responsibilities assigned to the Tax Exempt Bonds program.