Internal Revenue Service April 9, 2019 – Federal Register Recent Federal Regulation Documents

This document contains a final regulation that authorizes the disclosure of specified items of return information to the Bureau of the Census (Census Bureau). This regulation finalizes a proposed regulation cross-referencing a temporary regulation that was made pursuant to a request from the Secretary of Commerce. This final regulation requires no action by taxpayers and has no effect on their tax liabilities. No taxpayers are likely to be affected by the disclosures authorized by this guidance.

This document contains final regulations regarding the arbitrage investment restrictions under section 148 of the Internal Revenue Code (Code) applicable to tax-exempt bonds and other tax- advantaged bonds issued by State and local governments. The final regulations clarify existing regulations regarding the definition of ``investment-type property'' by expressly providing an exception for investment in capital projects that are used in furtherance of the public purposes of the bonds. The final regulations affect State and local governmental issuers of these bonds and potential investors in capital projects financed with these bonds.