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Carol Lew
The net effect the new approach, Lew said, is that if a municipal issuer is audited âit doesnât necessarily mean thereâs a problem with their deal.â Instead, the transaction might come under an area the IRS has targeted for examinations.
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Perry Israel
âAlso, there will be a lot of intentional reissuances as banks try to keep their customers. Many direct placements with banks have been written with âgross upâ language that would increase the rate on the bonds if the after tax value is reduced to the bank,â Israel said
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Ed Oswald
Rich Moore
âI donât know whether this new guidance would go in a regulation or be in a notice that would supercede the others,â Moore said. âAt a minimum, what it is going to do is just take the existing guidance on reissuance rules for tax exempt bonds and put them in one place.â