Tax relief for TE bond issuers

The relevant formal document with the details is IRS Announcement 2005-69, probably soon to appear at this link. (You'll probably see an error message for a while until IRS gets around to posting the announcement online.) Announcement 2005-69 is the one tax filers will need to reference in big red letters on their tax returns. The press release is IR-2005-98 and should appear over here soon.

The gist: issuers of tax-exempt bonds are permitted to request relief from "filing or payment requirements under sections 149(e) and 148(f) of the Internal Revenue Code" if they have any of several connections with the disaster areas in Louisiana, Alabama, Mississippi or Florida: located there themselves, or maintaining records there that are necessary to meet reporting requirements, or having a conduit borrower there, or affected "facilities" there, or its lawyer's office there, or "the professional on whom the issuer relies for compliance with the relevant provision of the Code," i.e. presumably the bond issuer gets a break if its CPA has an office invaded by coliform soup.

The announcement covers "original due dates" between Aug. 29 and Dec. 31 of this year, and the deadline to request the relief is January 3, 2006.