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The Massachusetts Development Finance Agency and the Wentworth Institute of Technology have entered into a settlement with the Internal Revenue Service to resolve tax issues relating to land located in Concord, Mass. that was acquired with bond proceeds. The institution sold the land in 1998 without redeeming bonds or finding alternative qualified use for the sale proceeds at the time.
By Naomi JagodaNovember 20 -
Existing home sales rose 1.5% to a seasonally adjusted 5.26 million-unit rate in October from a revised 5.18 million pace the previous month, the National Association of Realtors announced Thursday.
By Naomi JagodaNovember 20 -
An official with a nonpartisan budget watchdog group questioned the effectiveness of tax-exempt disaster bonds and other types of disaster-related tax expenditures during a Senate hearing Tuesday afternoon.
By Naomi JagodaNovember 19 -
State and local government groups are urging the House to pass the online sales tax legislation called the Marketplace Fairness Act, after a spokesman for House Speaker John Boehner said the Ohio Republican has problems with the bill and has no intention of moving it forward this year.
By Naomi JagodaNovember 18 -
Industrial production fell 0.1% in October, the Federal Reserve reported Monday.
By Naomi JagodaNovember 17 -
The Internal Revenue Service is auditing bonds issued in 2006 by the Orange County Health Facilities Authority in Florida for Orlando Regional Healthcare System, now Orlando Health Inc.
By Naomi JagodaNovember 14 -
The Internal Revenue Service is auditing two bond issues sold in 2007 by Colorado authorities for a university and a health care borrower.
By Naomi JagodaNovember 13 -
The Treasury Department and Internal Revenue Service have released final regulations concerning the process for recovering overpayments of arbitrage rebate on tax-exempt and tax-advantaged bonds.
By Naomi JagodaNovember 12 -
The Internal Revenue Service concluded that an Indian tribe's authority is a political subdivision that can issue tax-exempt bonds. The agency also granted a school district an extension to spend the proceeds of qualified school construction bonds it issued.
By Naomi JagodaNovember 10 -
Consumer credit increased by $15.9 billion, or 5.9%, in September to $3.267 trillion, the Federal Reserve reported Friday.
By Naomi JagodaNovember 7