IRS Extends TED Bond Deadline
The Internal Revenue Service extended the deadline for Indian tribes to issue Tribal Economic Development Bonds (“TED Bonds”) to June 30, 2011. The extension relates to TED Bonds authorized by the IRS in the first tranche of allocations under Notice 2009-51. In addition, the recent announcement also provides an option for an additional six month extension to December 31, 2011 upon approval by the IRS of a written Tribal government request.
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