IRS Issues Guidance on QECBs: Effect of Sequestration

Under the Balanced Budget and Emergency Deficit Control Act, refund payments to state filers claiming refundable credits under section 6431 of the Internal Revenue Code applicable to certain qualified bonds are subject to sequestration. Certain refund payments will be reduced by
the FY14 sequestration rate of 7.2 percent.

Date Posted: 10/15/2013