Washington - Taxation
Treasury, IRS Put TEFRA, Issue Price on Priority List
Tuesday, November 20, 2012
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Regulatory priorities for the Treasury Department and Internal Revenue Service this year and next include proposing guidance on arbitrage investment restrictions which likely includes issue price, according to plans they released this week.

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Opinion

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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