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Filing claims for recovery of overpayments of arbitrage rebate extended

Recovery of overpayments of arbitrage rebate

The IRS today released an advance version of Rev. Proc. 2017-50 providing guidance to issuers of tax-advantaged bonds on the time for filing claims for recovery of overpayments of arbitrage rebate, payments of penalty in lieu of rebate, and yield reduction payments under section 148.


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Today’s Rev. Proc. 2017-50 [PDF 38 KB] extends the deadline for filing claims for recovery of such overpayments to two years after: (1) the date that is 60 days after the final computation date of the issue to which the payment relates; or (2) with respect to the portion of the overpayment paid more than 60 days after the final computation date, the date that the payment was made.


For more information, contact a tax professional with KPMG’s Washington National Tax practice:

Greg Goller | +1 703 286 8391 |

Alexandra Mitchell | +1 202 533 6078 |

Randall Thomas | +1 202 533 3786 |

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