Treasury, IRS Ask for Comment on Tax Shelter Provision

McConnell, Alison L.
July 2006
Bond Buyer;7/17/2006, Vol. 357 Issue 32424, p4
Trade Publication
The article reports on the uncertainty expressed by federal officials about a provision in the Tax Increase Prevention and Reconciliation Act that imposes disclosure requirements on tax-exempt entities that enter into "prohibited tax shelter transaction." The Internal Revenue Service issued a notice identifying the types of deals that fit that description. Municipal market participants indicated that they were troubled by the potentially wide reach of the provision.


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