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House Passes Bill to Expand 529 Plan Benefits
The House on Tuesday passed a bill that expands 529 college savings plans.
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Reps. Dutch Ruppersberger, D-Md., and Randy Hultgren, R-Ill., are asking their colleagues to sign a letter urging House leaders to support the tax-exemption for municipal bonds. more »
Repealing the tax exemption for private-activity bonds would provide revenue to help pay for lowering corporate tax rates, a Congressional Research Service specialist testified before the Senate Finance Committee on Tuesday. more »
The Internal Revenue Service issued a favorable private-letter ruling to an issuer who planned to issue governmental and private-activity bonds to finance improvements to water facilities. more »
A $35.4 million issue of revenue bonds for a private detention center in Central Texas will retain tax-exempt status following a review by the Internal Revenue Service, according to a disclosure notice. more »
The Conroe Industrial Development Corporation in Texas has requested a settlement under the Internal Revenue Service's voluntary closing agreement program to resolve a tax violation relating to bonds it issued in 2008 and 2012. more »
A tax-reform agreement has to be done by the end of the summer or it will not happen during this Congress, House Ways and Means Committee Chairman Paul Ryan said Friday. more »
The House Ways and Means Committee on Thursday approved a bill to make the state and local sales tax deduction permanent. more »
Bipartisan bills on empowerment zone bonds and the ban on new Internet access taxes have recently been introduced in the Senate. more »
The Senate Finance Committee on Wednesday approved legislation that bond lawyers said would be helpful for nonprofit organizations. more »
Two former Senators who were instrumental in tax reform in 1986 said reform should be comprehensive and presidential commitment is very helpful. more »
The Internal Revenue Service has announced how many qualified zone academy bonds can be issued in each state, the District of Columbia and U.S. territories for 2014. more »
The tax exemption for general purpose state and local debt has consistently been one of the biggest corporate tax expenditures since 1975, according to the Joint Committee on Taxation. more »
An issuer in Virginia recently disclosed an Internal Revenue Service audit of bonds it issued in 2006, and a borrower in Indiana and an issuer in Pennsylvania disclosed that the IRS has closed audits of their bonds. more »

Doubts as to the quality or effectiveness of Indiana's intercept program are misplaced.

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