Fargo Fights Allegations

McConnell, Alison L.
May 2006
Bond Buyer;5/2/2006, Vol. 356 Issue 32372, p1
Trade Publication
The article reports on the response of the city official in Fargo, North Dakota on the allegations of the U.S. Internal Revenue Services (IRS). The IRS said that the city's bond transactions for restructuring of its debt is taxable. However, the city attorney has claimed that the city is unaware of the benefit from an intricate financing structure contrary to the allegations of the IRS.


Related Articles

  • 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....

  • IRS Throws The Book at TEFRA Pools. Duff, Susanna // Bond Buyer;12/23/2002, Vol. 342 Issue 31538, p1 

    Reports on the issuance of adverse determination letters by the U.S. Internal Revenue Service (IRS) on possible declaration of pool bond issues using a telephone book, Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) structure. List of the companies to whom the letters have been issued;...

  • IRS Gets a Private Letter. Kinnander, Ola // Bond Buyer;01/11/2001, Vol. 335 Issue 31055, p1 

    Reports on the plans by the United States Internal Revenue Service (IRS) to launch the Tax-Exempt Advisory Committee to recommend changes to tax-exempt bond areas. Overhaul of the private-letter ruling process in tax exemptions; Basis of establishing the provisions for the exemptions according...

  • Ex-IRS official urges appeal rights for issuers on questions of taxability. Resnick, Amy B.; Hume, Lynn Stevens // Bond Buyer;03/06/98, Vol. 323 Issue 30345, p1 

    Reports on former US Internal Revenue Service (IRS) insider Michael G. Bailey's proposal that municipal bond issuers should be allowed to appeal when the IRS determines their bonds are taxable. Legislative basis of Bailey's proposal; Bailey's advocacy for a legislation that enables the IRS to...

  • Issuers' support wanes for IRS right of appeal provision. Resnick, Amy B. // Bond Buyer;06/08/98, Vol. 324 Issue 30409, p1 

    Reports that bond issuers' support is decreasing for legislation designed to grant them the right to appeal an Internal Revenue Service determination when bonds are taxable in the United States. Description of the provisions contained in the House and Senate versions of the bill; Impact of the...

  • Lawyers say appeal provision gives issuers same treatment as taxpayers. Resnick, Amy B. // Bond Buyer;11/24/98, Vol. 326 Issue 30527, p1 

    Reports that the proposed United States Internal Revenue Service (IRS) guidelines on how bond issuers can appeal a determination of taxability should give issuers the independent review they have sought under the bond audit program. Process created under the IRS Restructuring and Reform Act;...

  • Changes ahead at IRS. Resnick, Amy B. // Bond Buyer;01/05/99, Vol. 327 Issue 30551, p1 

    Focuses on proposed changes to taxation policies on bonds in the United States. Move by the US Internal Revenue Service to solidify the bond enforcement program; Harbor for issuers for pricing escrow securities; Private-activity regulations addressing refunding.

  • Two Capital Trust Multifamily Deals May Be Taxable, IRS Says. Duff, Susanna // Bond Buyer;1/9/2003, Vol. 343 Issue 31549, p1 

    Reports that the U.S. Internal Revenue Service (IRS) has made a decision that two bond issues totaling $350 million, sold by the Capital Trust Agency, for multifamily housing projects could be declared taxable. Deals to which notices were sent by the IRS regarding taxation; Bond issue involving...

  • Tax-exempts gain focus. Resnick, Amy B. // Bond Buyer;04/21/99, Vol. 328 Issue 30624, p1 

    Highlights a preliminary blueprint for the reorganization of the United States Internal Revenue Service (IRS) which would give more focus on tax-exempt bonds. Establishment of a tax-exempt operating division; Significant increase in the number of people and agents that would focus solely on bonds.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics