The BDA submitted comments to the Department of the Treasury and the Internal Revenue Service on recommendations for items that we believe should be included in their 2017-2018 Priority Guidance Plan. You can view our final comments here.
The Treasury Department’s Office of Tax Policy and the IRS use the Priority Guidance Plan each year to identify and prioritize the tax issues that should be addressed through regulations, revenue rulings, revenue procedures, notices, and other published administrative guidance. The 2017-2018 Priority Guidance Plan will identify guidance projects that the Treasury Department and the Service intend to work on as priorities during the period from July 1, 2017, through June 30, 2018.
BDA’s letter focuses on the following topics:
- Political Subdivision: BDA continues to urge the IRS and Treasury to withdraw the proposed rules and release a new set of proposed regulations that reflect the concerns expressed by BDA and other participants in the municipal bond market.
- Tax Exempt Bonds & Infrastructure: The BDA believes tax-exempt bonds can and should continue to play a leading role in infrastructure investment.
- Issue Price: We suggest that the IRS and Treasury should monitor the impact of the new rules on the market.
The regulatory notice can be found here.