Basic Rules for Restructuring Tax-Exempt Obligations

Tax-exempt bonds are often issued to finance facilities used for the operation of 501(c)(3) organizations, such as charities and certain educational and healthcare organizations. In the current financial climate, some issuers are contemplating restructuring the debt service on their tax-exempt bonds by entering into certain contractual agreements that modify the terms of the bonds. Learn the basic rules that apply to the restructuring ("reissuance") of tax-exempt obligations on the IRS Tax Exempt Bond Community website (http://www.irs.gov/taxexemptbond/professionals/article/0,,id=239480,00.html).