Official: IRS rules for GICs, Escrows not intended for other investments

Resnick, Amy B.
January 1999
Bond Buyer;01/22/99, Vol. 327 Issue 30563, p5
Trade Publication
Reports on United States Treasury Department official Edwin Oswald's clarification of Internal Revenue Service regulations that provide a fair-market value safe harbor for guaranteed investment contracts and refunding escrows. Efforts to address concerns related to the practice of yield-burning; Requirements for bond issuers; Warning that the rules do not cover other types of investments.


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