IRS Puts Ky. County Under Microscope Again

McConnell, Alison L.
March 2006
Bond Buyer;3/24/2006, Vol. 355 Issue 32346, p5
Trade Publication
The article reports on the audit conducted by the U.S. International Revenue Service (IRS) for the second time in Pendleton County, Kentucky. The audit follows an examination of Series 1993 bonds that financed a bond pool for the state's counties. IRS has audited several Kentucky blind pool for arbitrage violations. This time, sources said that the move could indicate that the agency has learned misstatements made by deal participants or of arbitrage earned after the deal was done.


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