The firm of Arbitrage Compliance Specialists, Inc. is an independently owned firm specializing in Arbitrage Rebate and Post-Issuance Compliance. Born out of PricewaterhouseCoopers, ACS’s founders have been at the forefront of every advance and reform of the Tax Code since 1986. This firm takes the time to really know their clients so that they can better serve their needs. They realize that every client is unique and that they have unique needs. All calculations are performed by CPA’s and reviewed by their own tax attorney. These tax attorneys have been error free for 30 years. Their clients enjoy working with such an experienced and friendly staff. With the accessibility that this staff provides to their clients, they are always available when they are needed. They literally take the leg work out of Arbitrage Rebate so that you don’t have to worry about it. This firm of ACS has the experience that you can trust. They specialize in post-issuance bond compliance services to include arbitrage rebate, yield reduction, spending exceptions, private business use and record retention. They employ individuals with diverse backgrounds mainly in the financial, accounting and law field. They have retained as in-hours attorney for over 30 years as well as many CPA’s. They pride themselves on the long lasting relationships that they are able to establish with their clients that happen because of the personal level of the experiences that they have with their clients.
Since they have over 30 years of experience, they have developed efficient means and accuracy for maintaining the most comprehensive arbitrage compliance programs. You will have peace of mind knowing that they have experts that handle all bond compliance and arbitrage services while you focus on the next project. With their experience, post-issuance compliance is much easier. With the singular focus on post-issuance bond compliance, they have the flexibility to offer competitive fees while offering programs individualized for each use. Their approach is to provide you with a partner for the life of the debt issue. With their state of the art bond management and arbitrage calculation systems, they will timely complete the compliance reporting while using the most up-to-date and appropriate methodology. They provide a secure online customer record retention system and they also provide relevant continuing education for all of their clients.
Arbitrage is the ability to obtain tax-exempt bond proceeds and invest the funds in higher yielding taxable securities, resulting in a profit. Because of abuses associated with tax-exempt financings, the Federal Government has issued regulations to restrict the use of tax-exempt bond proceeds. The two main reasons for establishing the arbitrage laws are to minimize the benefits of investing tax-exempt bond proceeds and to remove the incentives to issue more bonds, issue bonds earlier or to leave bonds outstanding longer than necessary. These arbitrage laws are issued by the Congress or the Treasury Department. Tax-exempt bond issues which were issued on or after September 1, 1986 are subject to the arbitrage rebate requirements. This means that any arbitrage profit or arbitrage, be rebated to the Federal Government.