Extension of COVID Relief for Tax-Exempt Bonds: Telephonic Public Hearings Extended to March 31, 2022
On August 31, 2021, the IRS released Revenue Procedure 2021-39, which extends until March 31, 2022, the period during which issuers will be permitted to conduct telephonic public hearings for tax-exempt bonds.
Previously, on May 4, 2020, the IRS released Revenue Procedure 2020-21, which permits a public hearing to be held by teleconference accessible to the residents of the approving governmental entity, by calling a toll-free number. It was applicable to hearings held during the period of May 4, 2020, through December 31, 2020. On November 4, 2020, the IRS released Revenue Procedure 2020-49, which extended the timeframe for telephonic hearings through September 30, 2021.
All other provisions of Revenue Procedure 2020-21 continue to apply to telephonic public hearings through March 31, 2022.
Copyright © 2022 by Ballard Spahr LLP.
(No claim to original U.S. government material.)
All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, including electronic, mechanical, photocopying, recording, or otherwise, without prior written permission of the author and publisher.
This alert is a periodic publication of Ballard Spahr LLP and is intended to notify recipients of new developments in the law. It should not be construed as legal advice or legal opinion on any specific facts or circumstances. The contents are intended for general informational purposes only, and you are urged to consult your own attorney concerning your situation and specific legal questions you have.