Jennifer DePaul

The Rockefeller Institute of Government released a report Monday that shows property tax revenue declined 2.8% in the first quarter of 20120, marking the sixth consecutive quarter when collections were adjusted for inflation.

The IRS is auditing $378.15 million of gas supply variable rate revenue bonds and $4.82 million of gas supply fixed rate subordinated revenue bonds that the Lower Alabama Gas District issued in September 2007.

Sen. Chuck Grassley, R-Iowa., has put a hold on two Treasury nominees.

A new Tax Policy Center report details how difficult it is to cut tax preferences in order to pay for lower rates in the wake of calls from President Obama, lawmakers and deficit reduction groups to curtail them.

A bipartisan group of senators will introduce an amendment to the small-business tax credit bill this week that would require online retailers to collect sales taxes from out-of-state customers.

The IRS is auditing $245.7 million of hospital revenue bonds issued by The Board of Trustees of the University of Alabama in Birmingham in September 2006.

President Obama's call for Congress to pass a one-year extension of the Bush tax cuts for families earning $250,000 or less would boost demand for municipal bonds, market participants said Monday.

State and local groups are urging the Internal Revenue Service to amend draft rules that would provide guidance on how to determine whether entities are eligible to participate in governmental retirement plans.

Senate Finance Committee votes 24-0 to recommend Senate confirm Mark Mazur as Treasury assistant secretary for tax policy.

Moody's Investors Services has proposed four pension data adjustments that would nearly triple 2010 unfunded liabilities and result in municipality downgrades.

The Bond Dealers of America is forming a task force to focus exclusively on tax reform and its potential impact on the municipal securities market.

The National Governors Association sent a letter to House Judiciary Committee lawmakers Thursday urging them not to pass the digital goods act because it would reduce state revenues.

The IRS has preliminarily determined that $147.18 million of revenue refunding bonds issued by the City of Houston Higher Education Finance Corporation in 2006 are not tax-exempt.

Total state and local government revenues rose 1.5% year-over-year in the first quarter of 2012, up to $325.3 billion.

The Treasury Dept issued guidance on qualified energy conservation bonds clarifying several aspects of the program.

While the Governmental Accounting Standards Board's new accounting standards announced Monday will improve financial reporting for public pension plans they also will put added pressure on cash-strapped state and local governments to reform their systems.

The Congressional Research Service released a report earlier this week that examines tax-exempt bonds and state and local government debt.

The American Public Power Association and a California Public Agency have commented on proposed IRS governmental plan regulations, suggesting changes to provide certainty to existing participants in governmental plans.

The IRS and Treasury Dept. are seeking public comment on Form 8038-CP, which is a return for credit payments to issuers of qualified tax credit bonds.

A new report from Senate Democrats on the Joint Economic Committee found that the House Republican tax-reform plan would reduce federal tax collections by $4.5 trillion over the next decade and cut taxes for the wealthiest Americans by establishing a new tax-bracket structure.