TITLE

IRS Probes $50M of Louisiana Public Facilities 'Lease-to-Own' Bonds

AUTHOR(S)
Ferris, Craig T.
PUB. DATE
February 2006
SOURCE
Bond Buyer;2/13/2006, Vol. 355 Issue 32218, p6
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article that the U.S. Internal Revenue Service (IRS) has launched an investigation of single-family home ownership lease-purchase bonds issued by the Louisiana Public Facilities Authority (LPFA). The IRS contends that some bond-financed leases are financed by unqualified private-activity bonds rather than qualified governmental debt. It offers information about the variable-rate lease-purchase revenue bonds issued by the LPFA.
ACCESSION #
19758618

 

Related Articles

  • IRS: Mortgage Issuers Can Use HUD Data. McConnell, Alison L. // Bond Buyer;4/23/2007, Vol. 360 Issue 32613, p2 

    The article reports that the Internal Revenue Service (IRS) has allowed qualified mortgage revenue bond issuers in the U.S. to use the 2006 or 2007 earnings data of the Department of Housing and Urban Development in determining income limitations for single-family housing bonds. IRS told the...

  • IRS Asks San Diego About $15.3M Refunding in '03. Saskal, Rich // Bond Buyer;1/27/2006, Vol. 355 Issue 32307, p4 

    The article reports that the United States Internal Revenue Service (IRS) has asked San Diego to supply documents related to a lease-revenue refunding deal in 2003. The city filed a copy of the request with the nationally recognized municipal securities information repositories. The IRS...

  • Fontana, Calif., Agency Bonds Stay Tax-Exempt as IRS Closes Audit. Resnick, Amy B. // Bond Buyer;6/25/2003, Vol. 344 Issue 31664, p6 

    The Internal Revenue Service (IRS) on June 24, 2003 notified the Fontana Redevelopment Agency in California that it has closed with no change its audit of the agency's Jurapa Hills Redevelopment Project tax allocation refunding bonds, Series 1999A. The interest on the bonds remains tax-exempt....

  • Private-Letter Reading. Barnett, Susanna Duff // Bond Buyer;10/19/2004, Vol. 350 Issue 31992, p1 

    Reports that the U.S. Internal Revenue Service has determined that a local government can finance a conservation easement with tax-exempt bonds. Acquisition of property rights to land with tax-exempt bonds for the fair market value.

  • IRS Sees Arbitrage Gain In Workout of Dirt Bonds. Kinnander, Ola // Bond Buyer;09/06/2000, Vol. 333 Issue 30969, p1 

    Reports on the United States Internal Revenue Service's (IRS) issuance of a field service advice memo stating its refusal to tax-exempt bonds that are backed by Treasury securities. Intent of the IRS to crack down on unusual bond transactions that are inconsistent with revenue procedures; Cases...

  • IRS Warns 12 Issues May Be Taxed. Kinnander, Ola // Bond Buyer;09/11/2000, Vol. 333 Issue 30972, p1 

    Reports on the possible taxation of 12 bond issues in the United States according to the U.S. Internal Revenue Service. Alleged violation of tax laws by the issuers; Notification of major investors by the issuers.

  • IRS to Toughen Terms. McConnell, Alison L. // Bond Buyer;2/24/2006, Vol. 355 Issue 32326, p1 

    The article reports on the plan of the United States Internal Revenue Service tax-exempt bond office to toughen its settlement standards in illegal arbitrage case. The office plans to require that parties redeem bonds and increase by 100 percent bondholders' tax exposure in addition to...

  • Yield-Burning Inquiry by IRS Gains Force. Kinnander, Ola // Bond Buyer;06/04/2001, Vol. 336 Issue 31152, p1 

    Reports that the United States Internal Revenue Service has sent letters to several bond issuers informing them that the agency made a preliminary determination that their issues may have involved yield-burning abuses. First batch of letters sent as part of the agency's yield-burning...

  • S corporations and IRC sec. 1244 stock. Colburn, Steven C. // CPA Journal;Aug94, Vol. 64 Issue 8, p48 

    Presents the tax treatment of Internal Revenue Code (IRC) Section 1244 stocks issued to S corporations. Requirements for stocks to qualify as IRC Section 1244 stocks; Loss treatment on IRC Section 1244 stock issued to shareholders of an S corporation; Tax Court's decision on the case `Virgil D....

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sign out of this library

Other Topics