TITLE

Settling Up With the IRS

AUTHOR(S)
Barnett, Susanna Duff
PUB. DATE
November 2004
SOURCE
Bond Buyer;11/5/2004, Vol. 350 Issue 32005, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Reports on a settlement proposed by the Orange County Health Facilities Authority and the Capital Projects Finance Authority with the Internal Revenue Service (IRS) to protect the tax-exempt status of pooled health care facility bonds that were accused of violating the arbitrage rules of the tax code. Terms of the settlement; Draft of the closing agreement; IRS' issuance of a preliminary adverse determination letter for the Orange County authority's transaction in May 2003 for the Capital Project's deal in December 2001 due to third parties that covered issuance costs.
ACCESSION #
15004291

 

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