TITLE

IRS: Interest on Erie, Pa., District's Bonds May Be Taxable

AUTHOR(S)
Barnett, Susanna Duff
PUB. DATE
October 2004
SOURCE
Bond Buyer;10/14/2004, Vol. 350 Issue 31989, p30
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Reports on the United States Internal Revenue Service's (IRS) notification to the Erie, Pennsylvania, City School District that the interest in its tax-exempt bonds may be taxable because of its use of option escrow. Auditing of the bonds; School district's belief that it has complied with the applicable tax laws; Claims of IRS that the bonds are considered arbitrage bonds.
ACCESSION #
14762593

 

Related Articles

  • IRS Private-Letter Ruling Could Help a School District Rebuild. Barnett, Susanna Duff // Bond Buyer;6/2/2004, Vol. 348 Issue 31896, p5 

    Reports on the United States Internal Revenue Service's (IRS) private letter ruling on the plans of a city school district to use tax-exempt bond financing to modernize facilities. Possibility that the school district will violate its state financing requirements and federal hedge-bond rules;...

  • IRS Closes Audit of Pa. School District, Upholds Tax-Exempt Status of Bonds. Ferris, Craig T. // Bond Buyer;10/6/2006, Vol. 358 Issue 32482, p36 

    The article reports on the audit closure of the $27.7 million of Series 2002 general obligation bonds of the Internal Revenue Service, which was issued by Wilson's School District in Pennsylvania and maintained the tax-exempt status of the bonds. The bonds were closed to finance several capital...

  • SOUTH CAROLINA: School BABs Are State's First. Temple-West, Patrick // Bond Buyer;6/11/2009, Vol. 368 Issue 33130, p9 

    The article reports on the $25 million of Build America Bonds (BABs) sold by the Anderson County School District No.1 in South Carolina. The district became the first issuer in the state to sell BABs in a deal that could save $4 million over traditional tax-exempt financing. BABs were sold...

  • IRS Declares West Covina, Calif., USD Refunding Taxable; Cites Yield Burning. McConnell, Alison L. // Bond Buyer;8/7/2006, Vol. 358 Issue 32439, p5 

    The article reports on the U.S. Internal Revenue Service's (IRS) preliminary decision that a series of refunding bonds issued by West Covina Unified School District in California is taxable. According to the article, the IRS investigation has discovered evidence of yield burning. It adds that...

  • Draft Report Urges Changes to Texas School Bond Programs, PSF. Albanese, Elizabeth // Bond Buyer;12/1/2006, Vol. 358 Issue 32519, p60 

    The article reports that the legislature of Texas has been urged by the finance and education committees of the U.S. Senate to increase the rate of the multiplier used in the Permanent School Fund (PSF) bond-backing guarantee program. This guarantee allows districts to avoid the costs of private...

  • IRS Closes Audit of Pennsylvania School District. McConnell, Alison L. // Bond Buyer;8/16/2007, Vol. 361 Issue 32693, p4 

    The article reports that the Internal Revenue Service (IRS) has closed an audit of Scranton School District's $63 million of Series 2001 refunding notes without declaring them taxable in Pennsylvania. It is stated that the school district's transaction was sold to finance capital projects and...

  • Audit of Pennsylvania School District Focuses on 1993 Bonds. McConnell, Alison L. // Bond Buyer;10/3/2005, Vol. 354 Issue 32230, p44 

    Reports on the conduct of an investigation by the U.S. Internal Revenue Service on the School District in Coatesville, Pennsylvania. Focus of the investigation of the possible arbitrage violations of the tax code by the school district; Move of the school district to hire two firms to represent...

  • IRS Rules Tribal Authority Can Issue Tax Exempt Bonds. Jagoda, Naomi // Bond Buyer;11/12/2014, Vol. 1 Issue 34210, p1 

    The Internal Revenue Service concluded that an Indian tribe's authority is a political subdivision that can issue tax-exempt bonds. The agency also granted a school district an extension to spend the proceeds of qualified school construction bonds it issued.

  • Waiting Game in Texas. Albanese, Elizabeth // Bond Buyer;3/22/2005, Vol. 351 Issue 32095, p1 

    Reports on the new-money general obligation bond offerings of the Clear Creek Independent School District (ISD) and the Cypress-Fairbanks ISD in Texas. Advantage offered by high interest rates for Clear Creek; Consideration of Cypress-Fairbanks whether to delay their deal until the U.S. Internal...

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