On March 4, 2024, the Treasury Department published a final rule that amends the regulations concerning State and Local Government Series securities (SLGS). Among other changes, the updated reg...
https://www.publicfinancetaxblog.com/2024/03/how-to-protect-against-harmful-slgs-this-spring/
When the Internal Revenue Code (“IRC”) says it does. (For those of you that want to remind yourselves of how a bill becomes a law, such as the IRC, see this video from Schoolhouse Rock). ...
https://www.publicfinancetaxblog.com/2024/02/when-does-10-pbu-really-mean-5-pbu/
On Wednesday, January 31, 2024, the U.S. House of Representatives passed the bill called the Tax Relief for American Families and Workers Act. Contained in this bill is a significant reduction ...
The famous song, Love Me Tender, by Elvis Presley, includes lyrics such as “We’ll never part” and about being together “ ’Til the end of time.” In contrast to Elvis’ wish, the iss...
https://www.publicfinancetaxblog.com/2023/10/love-me-tender-bonds-an-overview/
The time has come, friends. The Rebate Series ends with this post. At least for a little while. So far we’ve covered the basics of arbitrage and rebate and two key timing-based spending excepti...
Our previous post kicked off our Rebate Series by introducing core concepts and terms. However, for every rule there is an exception. And, as you will learn shortly, for every exception there is ...
Reader’s Note: As this is my first post on The Public Finance Tax Blog™ let me provide a necessary introduction. My name is Natalie, an associate with the Public Finance Tax Group here at Squ...
https://www.publicfinancetaxblog.com/2023/04/keep-your-paws-off-my-positive-arbitrage/
Cindy Mog recently reacquainted us with abusive arbitrage devices, including the factors that evidence overburdening of the tax-exempt bond market (issuing bonds too early, issuing too many bonds...
https://www.publicfinancetaxblog.com/2023/03/when-overburdening-isnt-a-burden/
(Episode 3 – What Happens to the Arbitrage Sinners and the Arbitrage Saints?) As you may remember, in Episode 1 we discussed some background regarding the prohibition against abusive arbitrage ...
(Episode 2 – Overburdening (Generally) Not Allowed) As you may remember, in the first episode, we discussed how the federal government’s primary goal in subsidizing tax-exempt bonds is to enc...