IRS to Audit 90 Advance Refundings

Barnett, Susanna Duff
October 2004
Bond Buyer;10/14/2004, Vol. 350 Issue 31989, p1
Trade Publication
Reports that the United States Revenue Service (IRS) plans to audit several bond refundings to check issuers' compliance with rules governing interest that can be earned on the escrow securities. Number of refundings to be audited; Correspondence examination program of the tax-exempt bond division of IRS; Questionnaires to be sent by IRS asking issuers if they have properly reinvested investment proceeds.


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