IRS Issues Series of PLRs Regarding Tax-Exempt Bonds

Wednesday, November 28, 2001 - 1:45am

The Internal Revenue Service (IRS) this month issued a series of Private Letter Rulings (PLRs) regarding buildings financed with tax-exempt bonds. In PLRs 200147008 to 200147011, the IRS ruled that the redemption of tax-exempt bonds at any time on or after the date that a low-income housing project has been placed in service under § 42 does not preclude the classification of the project under § 42(h)(4)(B). For these and other relevant IRS rulings, click here.