TITLE

IRS Narrows Escrow Foctis Put Options at Issue in Altoona, Pa., Case

AUTHOR(S)
Barnett, Susanna Duff
PUB. DATE
August 2004
SOURCE
Bond Buyer;8/31/2004, Vol. 349 Issue 31959, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Reports that the U.S. Internal Revenue Service has notified the Altoona City Authority in Pennsylvania that the interest on 53.1 million dollars in tax-exempt water revenue refunding bonds may be taxable because of their use of a so-called put-option escrow. IRS assumption that an escrow put-option would result in a determination that the bonds are arbitrage bonds.
ACCESSION #
14299192

 

Related Articles

  • Steelcase Pioneers, IRS In Gift Tax Tiff. Moskal, Jerry // Grand Rapids Business Journal;4/28/2003, Vol. 21 Issue 17, p3 

    Reports on a petition filed by couple James C. Welch and Jane C. Welch asking the U.S. Tax Court to overturn a ruling by the U.S. Internal Revenue Service (IRS) demanding them to pay in additional taxes on several shares of Steelcase Inc. stock they each gave their children in 1997 and the...

  • Margin-Financed Securities Trigger UBTI.  // Practical Accountant;Jun2000, Vol. 33 Issue 6, p14 

    Reports on the United States Internal Revenue Services' (IRS) ruling in the tax case involving the purchase of securities on margin by a trust created for the benefit of the University of New Haven. Case background; Debt-financed property under Section 514(b)(1) of the tax code.

  • Stocks/debt loss allocations.  // Practical Accountant;Mar99, Vol. 32 Issue 3, p12 

    Focuses on tax regulations from United States Internal Revenue Service (IRS) affecting the allocation of loss recognized on the disposition of stock assets.

  • Mark-to-market regs released.  // Practical Accountant;Feb94, Vol. 27 Issue 2, p14 

    Reports that the US Internal Revenue Service has issued guidelines on the regulation of securities. Effectivity of guidelines.

  • IRS releases advice on allocating expenditures for arbitrage purposes. Resnick, Amy B. // Bond Buyer;10/21/98, Vol. 326 Issue 30504, p5 

    Reports on the United States Internal Revenue Service's release of a technical advice memorandum that shows issuers how it expects them to allocate expenditures from bond proceeds and account for them for arbitrage purposes. Types of deals for which the memorandum is applicable; Terms of the...

  • IRS Plans to Notify Issuers of Settlement. Resnick, Amy B. // Bond Buyer;03/24/2000, Vol. 331 Issue 30856, p36 

    Reports on the United States Internal Revenue Service's (IRS) plan to write to all issuers whose bonds are included in any global yield-burning settlement to inform them of the resolution of taxability questions. Audit investigation launched by the IRS into the yield burning that allegedly...

  • FINANCIAL TRANSACTIONS. May, Gregory; Kennard, Alan L.; Stevens, Matthew A. // Tax Lawyer;Jun2002, Vol. 55 Issue 4, p1189 

    Focuses on developments on taxation of financial transactions in the U.S. Scope of the regulations issued by the Internal Revenue Service dealing with qualified reopenings of debt securities; Applicability of rules on the capitalization interest expense and carrying costs for straddles; Cases...

  • IRS cracks down on `fast-pay' stock deals.  // Practical Accountant;Mar99, Vol. 32 Issue 3, p12 

    Reports that the United States Internal Revenue Service (IRS) has issued proposed regulations on taxing fast-pay stocks. Two-party financing arrangements affected by the proposed regulation.

  • Regs issued for credit on employer FICA tax on tips.  // Practical Accountant;Feb94, Vol. 27 Issue 2, p14 

    Reports that the US Internal Revenue Service has issued regulations on employer social security taxation. Effectivity of regulations.

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics