IRS Targets Unintentional Arbitrage
- Proposed Bill Eliminates SRF Arbitrage Restrictions. Sanchez, Humberto // Bond Buyer;3/14/2002, Vol. 339 Issue 31344, p4
Reports the passage of a bill that would eliminate arbitrage rebate restrictions from tax-exempts bonds under the clean water SRF program in the U.S. Increase of available funds for the program; Provisions of the bill; Speculation of a heated debate in Congress.
- Interest on proposed muni bonds not excludable. // Practical Accountant;Jul96, Vol. 29 Issue 7, p24
Reports on the court ruling that bonds proposed by Columbus, Ohio to fund a prepayment of a long-term pension obligation at a 35 percent discount, are arbitrage under Section 148 and so the interest on them is not excludable.
- CONNECTICUT: Treasurer Gets 7 RFP Answers. Stark, Jonna // Bond Buyer;6/18/2007, Vol. 360 Issue 32652, p9
The article reports that Connecticut's Office of the Treasurer has received seven responses to its May 2007 request for proposals for tax arbitrage rebate and verification agent services. According to the author, the treasurer's office may request up to two one-year extensions of the contract....
- Munis Firm, Recouping Some Losses; New York City Prices $640M of GOs. Johnson, Anastasija; Curan, Bill // Bond Buyer;9/14/2005, Vol. 353 Issue 32217, p2
Reports on the outlook of the municipal bond market in the U.S. Prices for municipal bonds; Decline in bond yields due to a solid bid from arbitrage accounts; Sale of general obligation bonds by New York City; Marketing of South Carolina Transportation Infrastructure Bank's revenue refunding bonds.
- IRS Seeks Comments on Arbitrage Rebate Form. Barnett, Susanna Duff // Bond Buyer;11/23/2004, Vol. 350 Issue 32016, p5
Reports that the Internal Revenue Service (IRS) is seeking public comment on its arbitrage overpayment rebate form in the United States. Effort to reduce the paperwork and respondent burden on information that the IRS collects.
- Yield Indexes End Lower After Weak Employment Report. Chang, Helen // Bond Buyer;8/13/2004, Vol. 349 Issue 31947, p4
Reports on the decline in the municipal bond yield indexes in the U.S. Weakness in the employment report in the country; Stability of light issuance and arbitrage selling; Increase in the municipal bond yields.
- Letting States Do the Dirty Work: State Responsibility for Federal Environmental Regulation. Erickson, Merle; Goolsbee, Austan; Maydew, Edward // National Tax Journal;Mar2003 Part 1, Vol. 56 Issue 1, p107
This paper examines tax arbitrage in the market for municipal bonds. It poses a puzzle for the literature, however, in that we find little evidence of municipal bond tax arbitrage by non- financial corporations. Even among those finns engaged in arbitrage, many finns do less than a safe-harbor...
- Market Looks Back on Rough Year for Muni Arbitrage Funds. Posner, Matthew // Bond Buyer;1/2/2008, Vol. 363 Issue 32784, p6
The article reports on the failure of the municipal arbitrage funds in the U.S. municipal market in 2007. According to the author, the funds were down an average of 20% to 40% for the year. Market participants said that the funds account for roughly $140 billion to $180 billion, or about half of...
- Municipals Weaken as Continuing Treasuries Correction Sparks Action. Johnson, Anastasija; Curran, Bill // Bond Buyer;6/14/2005, Vol. 352 Issue 32153, p2
Reports on the weakening of municipal bond market as a continuing correction in the Treasury market in the U.S. Influence of the consecutive losses in Treasuries on the sale of tax-exempt bonds from arbitrage accounts; Emergence of several sizeable offerings of non-callable bonds from arbitrage...