Washington - Taxation
IRS Closes Audit of New Orleans Bonds with No Changes
Tuesday, December 18, 2012
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The IRS has notified New Orleans officials that it has closed an audit of more than $70 million of public improvement bonds issued by the city in 2007 with no change to their tax-exempt status.

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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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