Washington
TEB Urged to Watch ARRA Limits
Tuesday, January 19, 2010
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The Internal Revenue Service’s tax-exempt bond branch will have to remain watchful that bond programs authorized by the American Recovery and Reinvestment Act are not used beyond their legal limits, according to a report released yesterday by the Treasury Department’s Inspector General for Tax Administration.

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Before the financial crisis of 2008-09, it would have been significant news if yields on municipal bonds had exceeded those on Treasury securities at any maturity, and that occurrence likely would have attracted a variety of investors seeking to take advantage of the relative-value opportunity.

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