JANUARY 16, 2019
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Tax Legal News
In house attorneys looking for a better way to organize, vet and easily retrieve legal news created the National Law Review on-line edition.

Around the clock, the National Law Review's editors screen and classify breaking news and analysis authored by recognized legal professionals and our own journalists.

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The United States Tax Court (Tax Court) closed its doors on December 28, 2018, until further notice. However, trial sessions scheduled for the weeks of January 7, and 14, 2019, were to proceed as scheduled. The Tax Court has updated its website to confirm that the trial sessions scheduled for the week of January 14, 2019, will proceed as scheduled, but that trial sessions scheduled for the week of January 28, 2019, in El Paso, Los Angeles, New York, Philadelphia, San Diego, and Lubbock are canceled. A decision regarding the trial sessions for the week of February 4, 2019, will be made on or before January 18, 2019.  More on Update from Tax Court during Government Shutdown Here>
GT Law Firm LogoThirty years ago, on Dec. 27, 1988, Notice 88-130 was published, providing rules for when a tax-exempt bond is deemed retired and reissued for purposes of §§103 and 141 through 150 of the Code and providing special rules for “qualified tender bonds.” Thereafter, in 1996, the Treasury and IRS published regulations under Code §1001, addressing what modifications to debt instruments, including tax-exempt bonds, would result in a retirement of such instrument, and indicating that they intended to issue regulations under Code §150 for tax-exempt bonds.  More on Tax Developments Here> 
On December 31, 2018, the Department of the Treasury and the Internal Revenue Service released final regulations (the “Final Regulations”) relating to public approval requirements for tax exempt private activity bonds.  The Final Regulations update and streamline implementation of the public approval requirement for tax exempt private activity bonds provided in section 147(f) of the Internal Revenue Code and are largely an improvement over the existing regulations that date back to 1983.   More on Activity Bonds Here

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