Skip to Content


Arbitrage Guidance for Tax-Exempt Bonds; Correction

Document Details

Information about this document as published in the Federal Register.

Document Statistics
Document page views are updated periodically throughout the day and are cumulative counts for this document including its time on Public Inspection. Counts are subject to sampling, reprocessing and revision (up or down) throughout the day.
Published Document

This document has been published in the Federal Register. Use the PDF linked in the document sidebar for the official electronic format.

Start Preamble


Internal Revenue Service (IRS), Treasury.


Correcting amendment.


This document contains corrections to final regulations (TD 9777) that were published in the Federal Register on Monday, July 18, 2016. The final regulations are related to arbitrage restrictions under section 148 of the Internal Revenue Code applicable to tax-exempt bonds and other tax-advantaged bonds issued by State and local governments.


This correction is effective on April 3, 2018 and is applicable on or after July 18, 2016.

Start Further Info


Spence Hanemann at (202) 317-6980 (not a toll-free number).

End Further Info End Preamble Start Supplemental Information



The final regulations (TD 9777) that are the subject of this correction are issued under section 148 of the Internal Revenue Code.

Need for Correction

As published July 18, 2016 (81 FR 46582), the final regulations (TD 9777) contain an error that needs to be corrected.

Start List of Subjects

List of Subjects in 26 CFR Part 1

  • Income taxes
  • Reporting and recordkeeping requirements
End List of Subjects

Correction of Publication

Accordingly, 26 CFR part 1 is corrected by making the following correcting amendments:

Start Part


End Part Start Amendment Part

Paragraph 1. The authority citation for part 1 continues to read in part as follows:

End Amendment Part Start Authority

Authority: 26 U.S.C. 7805 * * *

End Authority Start Amendment Part

Par. 2. Section 1.148-4 is amended by revising the paragraph heading for paragraph (h)(3)(iv) to read as follows:

End Amendment Part
Yield on an issue of bonds.
* * * * *

(h) * * *

(3) * * *

(iv) Accounting for modifications and terminations—* * *

* * * * *
Start Signature

Martin V. Franks,

Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration).

End Signature End Supplemental Information

[FR Doc. 2018-06704 Filed 4-2-18; 8:45 am]