IRS Unearths 'Systematic' Kickback Scheme
- 'Essential Government Function' Needed for Conduit Debt. McConnell, Alison L. // Bond Buyer;1/23/2006, Vol. 355 Issue 32303, p5
The article reports that the United States Congress did not intend to give tribes access to tax-exempt bond financing according to the Internal Revenue Service. Due to this conduit Indian tribal bonds cannot finance any activity that is not essential government function. The tax code treats...
- Issuers, Lawyers Set BAB Strategy Session. Hume, Lynn // Bond Buyer;6/2/2010, Vol. 372 Issue 33326, p1
The article reports on the move of municipal issuers and their bond lawyers in Washington, D.C. in scheduling meetings to discuss whether the Internal Revenue Service's (IRS) compliance push on Build America Bonds (BAB) will discourage them from issuing bonds. It mentions that they plan to audit...
- Colorado Springs Reveals IRS Float Valuation. McConnell, Alison L. // Bond Buyer;3/13/2007, Vol. 359 Issue 32585, p1
The article reports that Colorado Springs is complying with a second information request from the U.S. Internal Revenue Service (IRS) on a forward float contract associated with $345 million of utilities system bonds sold in 1991. The request and a related report of audit findings provides a...
- IRS Conducts Random Audit of $51M Of Nevada Higher Ed System Bonds. Schroeder, Peter // Bond Buyer;07/29/2009, Vol. 369 Issue 33157, p4
The article reports on the random auditing of 50.9 million dollars of revenue bonds of Nevada Higher Education System Bonds by the Internal Revenue Service (IRS) in the U.S. It notes that the Series 2003B bonds had been chosen for examination as stated in the notice filed with the Municipal...
- Treasury Weighs Changes As It Turns Reissuance Notice Into Rules. Schroeder, Peter // Bond Buyer;2/22/2008, Vol. 363 Issue 32821, p4
The article reports on the recently issued Notice 2009-27, a notice on reissuance by the U.S. Treasury Department. The department is open to suggestions for modifications to the notice in which it plans to turn into proposed Internal Revenue Service regulations. The notice clarifies that issuers...
- IRS: Most YB Claims Won't Hurt Bonds. Hume, Lynn // Bond Buyer;7/23/2001, Vol. 337 Issue 31186, p1
Reports on the United States Internal Revenue Service's announcement that bond issuers can receive money from settlements of class action yield-burning suits without jeopardizing the tax-exempt status of their bonds. Conditions and requirements to avail of such right; Positive impact of the...
- IRS Sets Its Sights on Missing Responses to Arbitrage Survey. Kinnander, Ola // Bond Buyer;07/21/2000, Vol. 333 Issue 30937, p1
Reports on the failure of some issuers of private-activity bonds, randomly selected to participate in a mandatory United States Internal Revenue Service (IRS) arbitrage compliance survey, to reply to the agency by the deadline. Aim of the survey; Questions asked in the survey.
- Top 10 E-Mailed Stories. // Bond Buyer;2/25/2013, Vol. 383 Issue 33866, p6
The article offers information on several issues related to the bond market of the U.S. including proposal of the U.S. Barack Obama for America Fast Forward bonds, declaration of taxable interest earnings by Internal Revenue Service and addition of two large water deals to the primary market.
- IRS Finalizes Rules Covering Tran Deals. // Bond Buyer;5/2/2002, Vol. 340 Issue 31378, p5
Reports the release of the finalized guidance for tax revenue anticipation notes (Trans) by the U.S. Internal Revenue Service. Adjustments in the bond market; Sales of Trans by localities; Inflation of the projected cash deficits.