IRS Releases Inaugural Continuing
Professional Education Text for Tax Exempt Bonds

WASHINGTON - The Internal Revenue Service recently issued the text of educational training material for its Tax Exempt Bonds (TEB) revenue agents. This text for Fiscal Year 2002 represents the inaugural edition of the Continuing Professional Education Technical Instruction Program for Tax Exempt Bonds – also known as the TEB CPE text.

Although the text may not be relied upon as precedent, the IRS routinely releases the CPE text to the public so the bond community may remain informed about the topics and substance of current issues on which agents are being trained. “With the creation of TEB as part of the IRS´s overall modernization initiative, we´re launching a CPE program that will address issues and topics important to the municipal bond community,” said W. Mark Scott, Director of Tax Exempt Bonds for the Tax Exempt and Government Entities Division.

The TEB CPE text consists of two parts. Part I comprises updates on two project initiatives undertaken by TEB through its Compliance Initiative Program, as well as an essay exploring the historical development of section 144(a) qualified small issue bonds. Part II is a comprehensive collection of TEB-related articles reprinted from past editions of Exempt Organizations CPE texts.

“Issuing the CPE text is an important step in our outreach efforts as we strive to build a quality educational program that meets the technical needs of our TEB specialists and customers,” said Clifford J. Gannett, Manager of Tax Exempt Bonds Outreach, Planning and Review.

The FY 2002 TEB CPE text is available electronically on the IRS website at www.irs.gov/bonds. The hard copy text is also available for sale. Orders should be addressed to:

Internal Revenue Service
Freedom of Information Reading Room
P.O. Box 795
Ben Franklin Station
Washington, D.C. 20444
Phone: 202-622-5164 (not a toll-free number)

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