TITLE

Johnson City, Tenn., Latest to Hear From IRS

AUTHOR(S)
McConnells, Alison L.
PUB. DATE
January 2006
SOURCE
Bond Buyer;1/18/2006, Vol. 355 Issue 32300, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that the U.S. Internal Revenue Service has scrutinized Johnson City, Tennessee over a deal that allegedly used an abusive yield-burning strategy put together by CDR Financial Products and Bear Stearns Capital Markets Inc. In a preliminary adverse determination letter issued by the agency, it is said that school sales tax revenue bonds and general obligation public improvement refunding bonds are taxable because the issues violated the arbitrage rules of the tax code.
ACCESSION #
19872264

 

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