Our team advises on tax compliance and other issues that arise after a transaction closes.
We set up compliance procedures and address non-compliance situations, such as analyzing and implementing remedial actions following a change in use, obtaining IRS closing agreements under the voluntary closing agreement program and reviewing management contracts and other agreements to determine if they result in any private business use.
Our five tax attorneys who function exclusively as “Section 103” lawyers literally wrote many of the industry rules and regulations while working for both the IRS and Treasury.
Having obtained numerous favorable private letter rulings from the IRS, our group successfully represents associations as well as individual issuer clients, helping in situations where current law and regulations are problematic.
Nixon Peabody has teamed with Omnicap Group LLC, to provide comprehensive arbitrage rebate compliance services to municipal issuers and conduit borrowers. Together we offer clients timely, accurate reports on arbitrage rebate liabilities and opinions on compliance with Internal Revenue Code and regulations. And if required, we provide completed IRS forms to accompany their payment.