IRS Issues Revenue Procedure Extending Allowed Period for Phone Hearings on PABs

Wednesday, November 4, 2020 - 12:15pm

The Internal Revenue Service (IRS) issued a revenue procedure that extends until Sept. 30, 2021, the ability to hold certain hearings concerning private activity bonds (PABs) by telephone due to the COVID-19 pandemic. Rev. Proc. 2020-49 extends an earlier deadline that was set by Rev. Proc. 2020-21.

PABs will be discussed at the Novogradac 2020 Tax Credit Housing Virtual Conference, Dec. 3-4.