The IRS has released revised IRM 4.82.3, Tax Exempt Bonds Examination Guidelines, Direct Pay Bonds.
The revisions are as follows:
| IRM Subsection | Description of Change(s) |
| Program Scope and Objectives | Updated to conform to the general overview requirements of IRM 1.11.2.2.4 (4). |
| Throughout the IRM | Updated the references and indicates the reassignment of certain aspects of the direct pay bonds compliance review process Form 8038-CP from FAST to BSP. |
| 4.82.3.1.3 | Added a new subsection for Roles and Responsibilities for internal controls per IRM 1.11.2.2.4 (4). |
| 4.82.3.1.4 | Added a new subsection, Program Controls per IRM 1.11.2.2.4 (4). |
| 4.82.3.1.5 | Added a new subsection, Program Management and Review per IRM 1.11.2.2.4 (4). |
| 4.82.3.2.3, Penalties | Updated this section per Interim Guidance Memorandum, TEGE-04-0222-0001, Miscellaneous Civil Penalty Case Procedures. As opposed to listing all of the instructions in this IRM, the examiners are instructed to refer to the applicable sections of TE/GE IRM 4.70.13:
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| 4.82.3.2.2 | Added new subsection: Statute and Credit Review. |
| 4.82.3.3.3, Survey of Non-Examined Form 8038-CP Returns | Updated to include IGM, TEGE-04-0122-0002, Revised Considerations for Surveying Cases, dated January 11, 2024. |
| Editorial Changes Throughout | Editorial changes were made for clarity. Reviewed and updated grammar, email addresses, website links, titles, IRM references, IRS organizations, and terminology for the business unit. |
Aug 6, 2026