IRS May Tax Bonds to Spur Settlements

Duff, Susanna
May 2003
Bond Buyer;5/20/2003, Vol. 344 Issue 31639, p1
Trade Publication
The U.S. Internal Revenue Service (IRS) is threatening to impose taxes on some issuers' bonds as a way to force regional investment-banking firms to settle pending yield-burning cases. The bonds may be taxable because the yield on open-market securities for its refunding escrow generated illegal arbitrage profits, and the agency plans to send out as many as 70 more such letters in upcoming weeks, according to Charles Anderson, the IRS manager of tax-exempt bond field operations.


Related Articles

  • Stocks/debt loss allocations.  // Practical Accountant;Mar99, Vol. 32 Issue 3, p12 

    Focuses on tax regulations from United States Internal Revenue Service (IRS) affecting the allocation of loss recognized on the disposition of stock assets.

  • Mark-to-market regs released.  // Practical Accountant;Feb94, Vol. 27 Issue 2, p14 

    Reports that the US Internal Revenue Service has issued guidelines on the regulation of securities. Effectivity of guidelines.

  • IRS releases advice on allocating expenditures for arbitrage purposes. Resnick, Amy B. // Bond Buyer;10/21/98, Vol. 326 Issue 30504, p5 

    Reports on the United States Internal Revenue Service's release of a technical advice memorandum that shows issuers how it expects them to allocate expenditures from bond proceeds and account for them for arbitrage purposes. Types of deals for which the memorandum is applicable; Terms of the...

  • IRS Plans to Notify Issuers of Settlement. Resnick, Amy B. // Bond Buyer;03/24/2000, Vol. 331 Issue 30856, p36 

    Reports on the United States Internal Revenue Service's (IRS) plan to write to all issuers whose bonds are included in any global yield-burning settlement to inform them of the resolution of taxability questions. Audit investigation launched by the IRS into the yield burning that allegedly...

  • FINANCIAL TRANSACTIONS. May, Gregory; Kennard, Alan L.; Stevens, Matthew A. // Tax Lawyer;Jun2002, Vol. 55 Issue 4, p1189 

    Focuses on developments on taxation of financial transactions in the U.S. Scope of the regulations issued by the Internal Revenue Service dealing with qualified reopenings of debt securities; Applicability of rules on the capitalization interest expense and carrying costs for straddles; Cases...

  • IRS cracks down on `fast-pay' stock deals.  // Practical Accountant;Mar99, Vol. 32 Issue 3, p12 

    Reports that the United States Internal Revenue Service (IRS) has issued proposed regulations on taxing fast-pay stocks. Two-party financing arrangements affected by the proposed regulation.

  • Regs issued for credit on employer FICA tax on tips.  // Practical Accountant;Feb94, Vol. 27 Issue 2, p14 

    Reports that the US Internal Revenue Service has issued regulations on employer social security taxation. Effectivity of regulations.

  • Attorney: Appeal right should apply to all open cases. Resnick, Amy B. // Bond Buyer;08/21/98, Vol. 325 Issue 30462, p6 

    Focuses on the Utah School District Finance Cooperative's dispute with the United States Internal Revenue Service over the taxability of a $200 million 1998 bond issue. Efforts of tax lawyer Bradley S. Waterman to convince the agency that the appeal right granted to bond issuers in 1998's IRS...

  • A Line in the Sand Trap. Duff, Susanna // Bond Buyer;12/2/2002, Vol. 342 Issue 31523, p1 

    Reports on the decision of the U.S. Internal Revenue Service that tax exemption on bonds issued for a golf course will depend on the commercial status of the facility. Doubts about the definition of a commercial golf course and the extent to which the advice would be effective; Criticism of the...


Read the Article


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

Try another library?
Sign out of this library

Other Topics