IRS Polls Public on Bond Reimbursement Paperwork Woes
Published Date: 2/11/2026
Notice
Summary
The IRS wants your thoughts on how it collects info about using bond money to pay back expenses. This affects anyone dealing with bonds and could change how paperwork is handled, aiming to make it easier and clearer. Comments are due by April 13, 2026, so don’t miss your chance to weigh in!
Analyzed Economic Effects
2 provisions identified: 0 benefits, 2 costs, 0 mixed.
Paperwork Burden Continued for Bond Issuers
If you are a state, local, or tribal government or a not-for-profit institution that issues tax-exempt bonds, the IRS is continuing an information collection (OMB Control No. 1545-1226). The agency estimates 2,500 responses, about 2 hours 24 minutes per response, and 6,000 total annual burden hours; comments on the collection are due by April 13, 2026.
Reimbursement Intent Requirement for Issuers
The regulation clarifies that an issuer who uses bond proceeds to reimburse prior expenditures must express a reasonable official intent on or prior to the date of payment for the reimbursement to be treated as an expenditure of the bond proceeds (see 26 CFR 1.150-2). This rule is intended to prevent reimbursements from being used to evade Internal Revenue Code requirements for tax-exempt bonds.
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