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LIBOR And SOFR Transition For Tax-exempt Transactions

CPE Course on LIBOR and SOFR Transition for Tax-Exempt

1 Credit

$10

Subject Area

Finance

Webinar Qualifies For

1 CPE credit of Finance for all CPAs

1 CPE credit for Certified Management Accountants (CMA)

1 CPD credit (Verifiable) for Canadian CPAs

1 PL credit for Chartered Financial Analyst (CFAs)

1 CPE credit of Iowa Public Accountants

1 CPE credit for Delaware Public Accountants

1 CPE credit of Maine Public Accountants

1 CPD credit (Verifiable) for CPA/PFS

1 CPD credit (Verifiable) for CPA/ABV

1 CPD credit (Verifiable) for Certified Valuation Analyst (CVA)

1 General Educational credit for Tax Professionals / Bookkeepers / Accountants

You need to register for the webinar to watch the video.

Click Here to Register

Before starting this self study program, please go through the instructional document.

Overview

  • Why Replace LIBOR?
    4 mins
  • Secured Overnight Financing Rate
    14 mins
  • Revenue Procedure
    28 mins
  • Transition Timeline 2021
    41 mins
  • Transition when Benchmark Unavailable
    56 mins

Course Description

As of July 26, 2021, derivatives will be priced assuming that the variable rate is the SOFR Index. 

Tax rules relating to the LIBOR transition may or may not result in a need to re-analyze the tax-exemption of a tax-exempt loan when such transition occurs. The mechanics of the transition and the events that trigger the transition will be relevant to such analysis. Documentation is important. 

Please join this online Finance CPE webinar in exploring:

Overview of the current and anticipated market developments for LIBOR and SOFR-based loans and swaps 

The federal tax-exempt bond law concerns related to transitioning 

  • From LIBOR to SOFR
  • From LIBOR to a benchmark other than SOFR
  • From Daily Simple SOFR to Term SOFR
  • From SOFR to another benchmark


Major Tax issues – related to re-issuance, contingent pay debt instrument

Reissuance Avoidance – existing, and proposed regulations, and revenue procedure

Consequences of tax going up and tasks to maintain tax-exemption

Key Points Included in the CPE/CE course:

  • Key milestones, relevant dates, and market reactions for LIBOR transition.
  • Alternatives and triggers for transition.
  • Market choices for alternative benchmarks.
  • Federal tax-exempt bond law consequences of the transition.
  • Documentary provisions used for transition.

Learning Objectives

  • To take an overview of the Transition from LIBOR to SOFR.
  • To discuss the transition impact on Loans. 
  • To discuss transition Timeline. 
  • To recognize the transition Impact on Swaps and Term SOFR.  
  • To discuss major tax issues, re-issuance avoidance, and consequences.
  • To identify Best Practices. 
  • To analyze future transition.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Certified Management Accountant
  • Certified Public Accountant
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Finance Pros
  • Finanical Analyst
  • Personal Financial Specialist (PFS)
  • Senior Accountant
  • Staff of Accounting Firm
  • Young CPA

Testimonial

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