IRS Survey Uncovers Yield Burning
- IRS on Hunt for Arbitrage: Targeted Survey to Begin in Three States. Kinnander, Ola // Bond Buyer;10/24/2002, Vol. 342 Issue 31498, p1
Reports on a project launched by the U.S. Internal Revenue Service to survey randomly selected municipalities that have failed to rebate arbitrage owed to the federal government. Findings of other such surveys; Provisions for rebate under the Tax Reform Act of 1986; Decision of IRS of narrow...
- IRS May Put More Resources Into Voluntary Closing Agreements. Kinnander, Ola // Bond Buyer;5/3/2002, Vol. 340 Issue 31379, p5
Reports the plans of Internal Revenue Service (IRS) to attend to voluntary closing agreements in the U.S. Transfer of agents to work on voluntary agreements; Concentration of IRS on abusive transactions; Statement regarding arbitrage by national director Mark Scott.
- Giving Something Back. Kinnander, Ola // Bond Buyer;05/14/2001, Vol. 336 Issue 31138, p1
Reports on the improvement of the rebate services in the United States Internal Revenue Services (IRS). Priorities of the bond division to speed up the refund claims processes; Major cause of the problems in the refund claims division; Reasons for the adjustment made by the IRS in some refund...
- IRS Letter Aims to Spark Wachovia Yield-Burning Settlement. Ferris, Craig T. // Bond Buyer;6/27/2003, Vol. 344 Issue 31666, p5
The U.S. Internal Revenue Service (IRS) has sent a letter to the Ocean Township, New Jersey, Board of Education requesting the names of bondholders and the interest paid to them on $9.525 million of bonds as it steps up pressure to get Wachovia Bank to settle the yield-burning case by paying the...
- IRS Scrutinizes School Districts' Rebate Compliance. Kinnander, Ola // Bond Buyer;2/21/2002, Vol. 339 Issue 31329, p5
Reports on the problem faced by the School districts regarding the arbitrage rebate rules according to the Internal Revenue Service's survey. Failure of paying rebate by some issuers; Reason for the problem of school districts in paying rebate; Rebate exemption for bonds proceeds for construction.
- IRS Publishes New Procedures on Recovery of Rebate Overpayments. Hume, Lynn // Bond Buyer;6/25/2008, Vol. 364 Issue 32906, p5
The article focuses on the procedures and time limits set by the U.S. Internal Revenue Service (IRS) for issuers on the recovery of their rebate overpayments. The procedures deal on arbitrage rebate and penalties in lieu of rebate provisions. The Revenue Procedure 2008-37 does not require the...
- IRS Rules $48M of Fargo Bonds Taxable . Ferris, Craig T. // Bond Buyer;12/5/2005, Vol. 354 Issue 32271, p1
The article presents information on the ruling of the U.S. Internal Revenue Service (IRS), which states that $47.8 million of advance refunding bonds issued in 1997 by Fargo, North Dakota, are taxable because the deal used an abusive yield-burning strategy. The IRS has determined that the bonds...
- IRS Arbitrage-Rebate Correspondence Audits Get Under Way. Schroeder, Peter // Bond Buyer;5/13/2008, Vol. 364 Issue 32877, p5
The article reports on the arbitrage-rebate compliance initiative sent out by the U.S. Internal Revenue Service (IRS) to private bond issuers. The initiative includes actual examinations and information document requests which request issuers to submit copies of documents and procedural data....
- IRS Checks On Arbitrage Calculation. Kinnander, Ola // Bond Buyer;11/08/2000, Vol. 334 Issue 31013, p1
Reports that the United States Internal Revenue Service plans to broaden its examination of bond issuers' calculation of the arbitrage rebate they owe the government. Stringent regulation of issuers of private-activity bonds; Analysis of bond transactions for rebate purposes.