The Internal Revenue Service is auditing some 2002 auction rate securities issued by an Alaska authority and has closed an audit of some 2006 Louisiana transportation bonds with no change to their tax-exempt status.
IRS Audits Alaska Bonds
FEB 5, 2013 2:08pm ET
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"One of these things does not belong" is a catchy slogan and it comes to mind when looking at the latest tax policy ideas coming from Washington when looking at the municipal bond tax exemption. The exemption is not a result of the growth of a tax code designed to induce or reduce certain behaviors. Rather, it is the foundation for the flow of capital in a $3.7 trillion dollar market required to efficiently finance the nation's infrastructure.
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