IRS Letter Aims to Spark Wachovia Yield-Burning Settlement
- IRS to Toughen Terms. McConnell, Alison L. // American Banker;2/24/2006, Vol. 171 Issue 37, Special section p1
This article describes the Internal Revenue Service's tax-exempt bond (TEB) office plans to further toughen its settlement standards in illegal arbitrage cases. IRS field manager Charles Anderson said that if the IRS were to continue with its current settlement strategies, practitioners would...
- IRS Survey Uncovers Yield Burning. Kinnander, Ola // Bond Buyer;4/30/2002, Vol. 340 Issue 31376, p1
Reports the completion of the survey of Internal Revenue Service on the arbitrage violations in the U.S. Examination of issuers that advance-refunded debt in 1989 or 1990; Change of investment of bond proceeds from the advance refundings; Result showing the involvement of yield burning in the...
- IRS on Hunt for Arbitrage: Targeted Survey to Begin in Three States. Kinnander, Ola // Bond Buyer;10/24/2002, Vol. 342 Issue 31498, p1
Reports on a project launched by the U.S. Internal Revenue Service to survey randomly selected municipalities that have failed to rebate arbitrage owed to the federal government. Findings of other such surveys; Provisions for rebate under the Tax Reform Act of 1986; Decision of IRS of narrow...
- IRS May Put More Resources Into Voluntary Closing Agreements. Kinnander, Ola // Bond Buyer;5/3/2002, Vol. 340 Issue 31379, p5
Reports the plans of Internal Revenue Service (IRS) to attend to voluntary closing agreements in the U.S. Transfer of agents to work on voluntary agreements; Concentration of IRS on abusive transactions; Statement regarding arbitrage by national director Mark Scott.
- Giving Something Back. Kinnander, Ola // Bond Buyer;05/14/2001, Vol. 336 Issue 31138, p1
Reports on the improvement of the rebate services in the United States Internal Revenue Services (IRS). Priorities of the bond division to speed up the refund claims processes; Major cause of the problems in the refund claims division; Reasons for the adjustment made by the IRS in some refund...
- IRS Issues New Guidance for Field Agents. Duff, Susanna // Bond Buyer;2/11/2003, Vol. 343 Issue 31571, p4
Focuses on a guidance sent by the U.S. Internal Revenue Service to its field agents regarding offering options to bondholders to appeal for tax liability before the agency attempts to collect taxes from them. Section in the Internal Revenue Manual that contains the guidance; Penalties on...
- IRS Guidance to Help Bondholders, But Some Want More. Duff, Susanna // Bond Buyer;2/12/2003, Vol. 343 Issue 31572, p5
Reports on the benefits of guidance sent to field staff by the U.S. Internal Revenue Service's tax-exempt enforcement division on bondholders. Details of the guidelines; Reaction of municipal market representative to these guidelines; Expectations for additional benefits from the bond community.
- IRS Urged to Be Flexible, Give Breaks for Forthright Cooperation. Finestone, Deborah // Bond Buyer;10/30/2001, Vol. 338 Issue 31254, p9
Discusses efforts of traders in the U.S. bond market urging the country's Internal Revenue Service for a program to protect bondholders and encourage issuers to admit violations in exchange for easy sanctions. Sanctions to be considered for tax-code violations; Damage caused by taxing...
- IRS Scrutinizes School Districts' Rebate Compliance. Kinnander, Ola // Bond Buyer;2/21/2002, Vol. 339 Issue 31329, p5
Reports on the problem faced by the School districts regarding the arbitrage rebate rules according to the Internal Revenue Service's survey. Failure of paying rebate by some issuers; Reason for the problem of school districts in paying rebate; Rebate exemption for bonds proceeds for construction.