Services
ACS expertly handles all facets of the arbitrage calculation process for all types of debt issues to include:
Arbitrage Rebate and Yield Restriction Calculations: Our staff of accountants complete arbitrage rebate reports that comply with all applicable arbitrage compliance regulations. Each ACS report is opined to by our in-house tax attorney and CPA. ACS will prepare all required IRS filings, including preparation of IRS Form 8038-T and 8038-R.
Post-Issuance Compliance Policy and Procedure Manual: Effective September 2011 the IRS requires that tax-exempt debt issuers indicate on bond forms if written post-issuance compliance policies and procedures are in place. Our firm’s tax attorney and team of CPAs have prepared a post-issuance policy and procedure manual can be provided to your municipality. For a detailed price quote or find out additional details, please call our Corporate Headquarters at (800) 672-9993 or click here.
Audit Assistance: ACS has assisted clients in the defense of IRS Audits and inquiries by acting as an expert consultant to both the issuer and the issuer’s legal counsel. Our firm has built an extensive knowledge base designed to not only deliver initial preventative "audit-proofing" in our work product for issuers, but to also provide all necessary IRS follow-up procedures. As an independent firm specializing solely in the field of rebate compliance, ACS can serve in a number of capacities relating to an IRS audit of an issuer.
Legal Expertise: ACS is highly sought out by issuers and legal counsel throughout the Country. Our firm has distinctive legal and accounting experience with the arbitrage rebate regulations dating back to the inception of the arbitrage rebate regulations of 1986. ACS Director, Ira Sacks, is both a CPA and Tax Attorney and is regarded by the bond community as an "attorney for attorneys." As an added benefit to our clients, the ACS legal counsel is housed with the rest of the arbitrage rebate staff in order to address the individual needs of our clients on a daily basis.
Legal Reviews: Our in-house attorney performs a review of the legal documents to determine which debt issues and funds are subject to rebate, yield restriction, and applicable exceptions. He determines which of the arbitrage rebate regulations are applicable to the debt issue and evaluates if any elections would be beneficial in reduction of rebate liability.
On-Site Training: ACS is committed to providing initial and on-going on-site training of your Municipality’s staff to aid in the understanding of arbitrage rebate minimization strategies, report tracking, and budgetary assistance. Our on-site support and training includes:
- Discussion of findings of each arbitrage calculation
- Arbitrage rebate lowering strategies training
- Arbitrage rebate accounting rules training
- Pre-issuance bond document review for arbitrage rebate election advice
- Assistance in the event of an Internal Revenue Service inquiry
Bond Tracking System: Key information from each debt issue is entered into our database system to track IRS filing deadlines and election requirements to ensure timely reporting.
