Washington - Taxation
IRS Closes Audit of Manchester, Conn., Bonds
Monday, February 25, 2013
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The Internal Revenue Service closed an audit of $39.24 million general obligation bonds issued in 2007 by Manchester, Conn., with no change to the bonds' 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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