Bingham Arbitrage Rebate Services, Inc.




Sections 103 and 148 of the Internal Revenue Code stipulate that any earnings over the declared yield of a tax-exempt bond issue must be rebated to the Federal Government. These excess earnings are defined as arbitrage. The calculation needed to determine the amount, if any, that must be rebated is best performed by an outside agency with expertise in this field. This calculation must be performed at least every five years over the life of the issue, even if your issue does not earn arbitrage.		Failure to comply with the rebate requirement may result in the retroactive loss of the tax-exempt status of the bonds, as well as further financial penalties for the bond issuer and the obligated party. If you are an issuer of tax-exempt bonds, or an obligated party in a tax-exempt issue, you should contact the professionals at Bingham Arbitrage Rebate Services Incorporated to learn if your issue is subject to arbitrage rebate tax law.



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April 20 – 22 SACUBO New Orleans, LA May 21 – 23 VGFOA Spring Conference Virginia Beach, VA June 15 – 18 GFOA Booth 940 Ft. Lauderdale, FL July 13 – 15 NCGFOA Summer Conference Wrightsville Beach, NC