[OSSSA218] Fwd: Information on Tax Exempt Bonds
pamella.johnson at state.or.us
Tue Jun 5 10:56:58 PDT 2012
I am forwarding an email distributed by the Federal, State and Local
Government (FSLG) division of the IRS related to sale of assets financed
with tax-exempt bonds by state and local governments and 501(c)(3)
organizations. You may find it pertinent to your entity.
Oregon State Social Security Coordinator
>>> Fed State & Local Governments <irs at service.govdelivery.com>
6/5/2012 9:36 AM >>>
FSLG Newsletter June 5, 2012
About FSLG [ http://www.irs.gov/govt/fslg/article/0,,id=96062,00.html
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Information on Tax Exempt Bonds
The office of Federal, State and Local Governments (FSLG) strives to
provide all government entities with Federal tax information that may be
relevant to their situations. We are providing the information below on
behalf of the IRS Tax Exempt Bonds office, for the attention of
governmental officials who are involved in the tax exempt bond process
and in the sale/liquidation of assets that were financed with bond
*Sale** of Assets Financed with Tax-Exempt Bonds by State and Local
Governments and 501(c)(3) Organizations*
To raise needed funds, state and local governments may plan to sell
property financed with tax-exempt bonds. The sale of such property
could cause the bond issue to become taxable. A timely remedial action,
if necessary, will help ensure that the interest on the bond issue
Tax Exempt Bonds (TEB) focuses on providing assistance to bond issuers
in understanding their tax responsibilities. TEB has initiated an
outreach and educational services program to increase understanding and
compliance with tax law applicable to tax-exempt bonds. As part of this
service TEB is providing this article [
concerning the sale of property financed by tax-exempt bonds.
Governmental issuers may use this information to establish practices to
monitor tax compliance throughout the period that their bonds are
outstanding. For more information please visit the Tax Exempt Bond [
http://www.irs.gov/taxexemptbond ] website.
If you have a technical or procedural question relating to government
entities, please visit the IRS.gov Web site [
If you have a specific question about exempt organizations, call *FSLG
Customer Account Services at 1-877-829-5500*.
Subscribe [ http://www.irs.gov/govt/fslg/article/0,,id=154827,00.html ]
to the FSLG Newsletter.
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