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The cap, repeal of which is a priority for state and local groups, will affect nearly 11 million taxpayers, an audit found.
February 27 -
“Major banking organizations have now used this abusive tax shelter scheme to illegally shelter well over $1 billion in taxable income,” said the letter by W. Mark Scott.
February 15 -
None of the 12 recommendations require congressional action and all are within the scope of the administrative powers of the IRS, according to NABL.
February 11 -
Libor based municipal debt stood at $47.6 billion at the end of 2018, or about 1.3% of the overall muni market.
February 8 -
The U.S. Court of Appeals for the District of Columbia ordered a district judge to review four documents totaling 16 pages in an IRS Office of Professional Responsibility case file for possible release under the federal Freedom of Information Act.
February 7 -
Until a clarification is issued, bond lawyers are requiring that the rental units be open to all who qualify without any preferences for special groups such as veterans.
January 28 -
Federal subsidy payments made to issuers of Build America Bonds are continuing even as Congress remains deadlocked over funding for government agencies.
January 10 -
The proposed settlement involves the Jan. 3 issuance of $7.3 million in transportation development refunding revenue bonds that are being used in the hope of resolving the tax audit of $9.55 million in tax-exempt bonds issued in 2009 for construction of a parking garage.
January 9 -
It’s unclear if monthly federal subsidy payments on Build America Bonds will be made.
January 8 -
Only five priorities remain on the Treasury and IRS work plan in 2019 for the municipal bond market.
January 3