Bailey Comments on NABL Request to Lower Fee on Private Letter Rulings

Partner Michael Bailey was quoted in an article in The Bond Buyer, “NABL seeks lower fee for IRS private letter rulings,” about the National Association of Bond Lawyers’ request that the IRS significantly lower the fee it charges state and local governments for private letter rulings involving the issuance of tax-advantaged bonds.

Bailey, who served on the ad hoc NABL committee that made the request, said a robust letter ruling program benefits the IRS as well as bond attorneys and state and local governments. “It’s helped to inform the IRS of real world problems and real world issues in interpreting the code and the regulations,” he said.

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