IRS Seen Targeting 10 School Deals

Hume, Lynn
January 2002
Bond Buyer;1/14/2002, Vol. 339 Issue 31303, p1
Trade Publication
Reports that the U.S. Internal Revenue Service is investigating 10 of the 30 three-year note school district issues of bonds that may have violated tax laws because they were arbitrage-driven and never intended to finance any projects. Plans of the tax agency to send out preliminary adverse determination letters to school district officials; Suspicions of the IRS regarding three investment banks that possibly misled issuers.


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