Skip to Main Content
Services Talent Knowledge
Site Search
Menu

Alert

Our attorneys stay on top of changes in legislation, agency regulations, case law, and industry trends—then craft timely legal alerts to keep clients up to date on legal developments important to their business.

September 1, 2021

COVID-19: IRS Further Extends Time Period Allowing Remote Attendance at TEFRA Public Hearings

As we previously reported in our alert from November 6, 2020, the Internal Revenue Service (IRS) issued Revenue Procedure 2020-49 on November 4, 2020, extending guidance regarding the public hearing requirement for tax-exempt private activity bonds, which is commonly known in the public finance industry as the “TEFRA hearing.” Revenue Procedure 2020-49 extended the time period for which telephonic hearings are permitted under Revenue Procedure 2020-21, from December 31, 2020, until September 30, 2021.

In response to the ongoing nature of the COVID-19 pandemic, on August 31, 2021, the IRS issued Revenue Procedure 2021-39, effective immediately, extending the time period for which telephonic hearings are permitted under Revenue Procedure 2020-21 from September 30, 2021, until March 31, 2022. This extension continues the allowance of hearings held by teleconference that are accessible to the residents of the approving governmental unit by calling a toll-free telephone number. These telephonic hearings will be treated as held in a location that, based on the facts and circumstances, is convenient for residents of the approving governmental unit, satisfying the public approval requirement.

If you have any questions regarding the content of this alert, please contact Sharon Brown, Public Finance Practice Area co-chair, at slbrown@barclaydamon.com; Samantha Podlas, associate, at spodlas@barclaydamon.com; or another member of the firm’s Public Finance Practice Area.

We also have a specific team of Barclay Damon attorneys who are actively working on assessing regulatory, legislative, and other governmental updates related to COVID-19 and who are prepared to assist clients. Please contact Yvonne Hennessey, COVID-19 Response Team leader, at yhennessey@barclaydamon.com, or any member of the COVID-19 Response Team, at COVID-19ResponseTeam@barclaydamon.com.

Subscribe

Click here to sign up for alerts, blog posts, and firm news.

Featured Media

Alerts

FinCEN Issues Response to Nationwide Injunction on the Corporate Transparency Act

Alerts

Fake Consumer Reviews, Testimonials, and Influence Indicators: Prohibitions and Penalties Under the Federal Trade Commission's Rule

Alerts

Personal Financial Data Rights Rule: Consumer Financial Protection Bureau Compliance

Alerts

Website Accessibility Lawsuits: Several "Tester" Plaintiffs—Paradise Morgan, Timothy Hernandez, Erika Alexandria, Denise Crumwell, and Eugene Duncan—Targeting Businesses in Recent Flurry of Lawsuits

Alerts

Nationwide Injunction on the Corporate Transparency Act

Alerts

Second Circuit Holds That a Default Judgment by an Insurer Against Insured Did Not Preclude Claims by Other Parties

This site uses cookies to give you the best experience possible on our site and in some cases direct advertisements to you based upon your use of our site.

By clicking [I agree], you are agreeing to our use of cookies. For information on what cookies we use and how to manage our use of cookies, please visit our Privacy Statement.

I AgreeOpt-Out