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Maxwell D. Solet

Member Emeritus

[email protected]

617.542.6000

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Education

  • Harvard University (BA, 1970)
  • Harvard Law School (JD, 1974)

Languages

- French

Recent Insights

News & Press

Viewpoints

Tax Guidance to Slow Under Trump. Even More Emphasis on Letter Rulings in Bond Transactions?

February 15, 2017 | Blog | By Maxwell Solet, Christie Martin

As the Trump administration attempts to substantially reduce the amount of federal regulations, both the Deputy Tax Legislative Counsel of the Treasury Department and an Associate Chief Counsel at the Internal Revenue Service indicated this week that we are likely to see a virtual halt to formal tax law “guidance” for the foreseeable future.

IRS Clarifies New Management Contract Safe Harbors

January 24, 2017 | Blog | By Leonard Weiser-Varon, Maxwell Solet, Christie Martin

In August, 2016, the IRS issued Revenue Procedure 2016-44, the first comprehensive revision of its management contract safe harbors since Revenue Procedure 97-13.  Rev. Proc. 2016-44 (see our description here) built upon and amplified principles laid out in private letter rulings issued over many years and in Notice 2014-67. 

Treasury/IRS Provide Early Holiday Present: Final “Issue Price” Regulations Released

December 13, 2016 | Blog | By Leonard Weiser-Varon, Christie Martin, Maxwell Solet

After two sets of proposed regulations, Treasury and IRS have now released final regulations on the definition of “issue price” for purposes of arbitrage investment restrictions that apply to tax-advantaged bonds (the “Final Regulations”) and it appears that the third time’s the charm.

IRS Relaxes Restrictions on Management Contracts for Bond-Financed Facilities

August 24, 2016 | Advisory | By Christie Martin, Maxwell Solet

The IRS on August 22, 2016 released long-anticipated Revenue Procedure 2016-44 (Rev. Proc. 2016-44), which substantially increases flexibility in, and provides a less formulaic approach to, the ability of a tax-exempt bond issuer or 501(c)(3) conduit borrower to contract with private parties without jeopardizing the tax-exemption of bonds that financed the facilities at which the applicable services are provided.

Helpful News from IRS on Student Loan Bonds

November 19, 2015 | Blog | By Leonard Weiser-Varon, Maxwell Solet

On November 13, the IRS issued Notice 2015-78, providing favorable guidance on topics of interest to providers of “supplemental” or “alternative” student loans financed with tax-exempt bonds and to underwriters of such student loan bonds.

IRS Revamps Proposed Issue Price Definition for Municipal Bonds

June 23, 2015 | Blog | By Leonard Weiser-Varon, Maxwell Solet, Christie Martin

Treasury and IRS today announced a decision to withdraw the much-criticized portion of the notice of proposed rulemaking published in the Federal Register on September 16, 2013 (the “2013 Proposed Regulations”) related to the definition of issue price for tax-advantaged obligations and to propose a revised definition of issue price in its place.
In the aftermath of recent municipal bankruptcies in which issuers proposed and/or implemented bankruptcy plans involving partial discharges of the issuer’s payment obligation on insured bonds, there has been increased focus on whether municipal bond interest paid by a bond insurer after the bankruptcy plan's effective date continues to be tax-exempt.
On October 24, 2014, the Internal Revenue Service issued Notice 2014-67 (the “Notice”), which provides important guidance and increased flexibility for issuers and conduit borrowers of tax-exempt bonds regarding contracting with private parties in a manner that avoids “private use” by such parties of bond-financed facilities.

IRS Provides Increased Flexibility on Management Contracts for Tax-Exempt Bond-Financed Property

November 7, 2014 | Blog | By Leonard Weiser-Varon, Maxwell Solet

On October 24, 2014, the Internal Revenue Service issued Notice 2014-67 (the “Notice”), which provides important guidance and increased flexibility for issuers and conduit borrowers of tax-exempt bonds regarding contracting with private parties in a manner that avoids “private use” by such parties of bond-financed facilities.

News & Press

Fifty-three Mintz attorneys have been named Massachusetts Super Lawyers for 2016 and thirty-one have been named Massachusetts Rising Stars. The findings will be published in the November 2016 issue of Boston Magazine and in a stand-alone magazine, New England Super Lawyers. 
Mintz served as co-bond counsel to the Brooklyn Arena Local Development Corporation in the refinancing of certain bonds issued for the construction of the Barclays Center in Brooklyn, NY.
Best Lawyers named 73 Mintz attorneys to its 2017 list of The Best Lawyers in America. Mintz attorneys selected for inclusion in this year’s list span 44 practice areas.