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Although many IRS audits of tax-exempt bonds are not reported on EMMA, the fact that only three have been reported almost halfway through the year highlights the recent drop in enforcement actions.
June 11 -
In Montana, two school districts and the state government reported that a new state law signed by the governor on May 6 will end the state tax deduction for certain school bonds after 2023 if those bonds are federally taxable.
May 10 -
The administrative shuffle also means that Edward Killen, who had been promoted to Acting Commissioner of TEGE, will return to the role of deputy.
April 9 -
Monday’s announcement came at the halfway mark of fiscal 2021 after only one other priority -- arbitrage violations -- had been announced since the Oct. 1 start of the federal fiscal year.
April 5 -
Other detention centers and prisons operating near the U.S.-Mexico border have undergone similar IRS audits the last couple of years in which issuers have agreed to convert their bonds from tax-exempt to taxable.
March 26 -
The public notice filed on EMMA is the first report by any issuer in calendar 2021 of any type of IRS audit communication.
March 22 -
The case is significant because so many municipal market participants rely on audited financial statements.
February 23 -
West Covina faces shrinking reserves and growing liabilities. Its mayor responds that it is working on solutions, but the pandemic challenges its efforts.
December 3 -
“This is a preliminary determination, not a proposed adverse determination or a final determination,” the county said.
November 18 -
New York MTA inspector general rails at lax contractor evaluations
October 14