Client AlertsCommercial & Public FinanceIRS Private Letter Ruling Provides New Guidance On Calculating Economic Life of Certain Bond-Financed Assets
By Eugene G. Bernardo II or David M. DiSegna The IRS has released a Private Letter Ruling that approves a simplified method of calculating the remaining economic life of property financed with exempt facility bonds. Section 142 of the Internal Revenue Code (the “Code”) defines exempt facility bonds (which are tax-exempt under the Code) as bonds that...


