Naomi Jagoda

The Massachusetts Development Finance Agency and the Wentworth Institute of Technology have entered into a settlement with the Internal Revenue Service to resolve tax issues relating to land located in Concord, Mass. that was acquired with bond proceeds. The institution sold the land in 1998 without redeeming bonds or finding alternative qualified use for the sale proceeds at the time.

Existing home sales rose 1.5% to a seasonally adjusted 5.26 million-unit rate in October from a revised 5.18 million pace the previous month, the National Association of Realtors announced Thursday.

An official with a nonpartisan budget watchdog group questioned the effectiveness of tax-exempt disaster bonds and other types of disaster-related tax expenditures during a Senate hearing Tuesday afternoon.

State and local government groups are urging the House to pass the online sales tax legislation called the Marketplace Fairness Act, after a spokesman for House Speaker John Boehner said the Ohio Republican has problems with the bill and has no intention of moving it forward this year.

Industrial production fell 0.1% in October, the Federal Reserve reported Monday.

The Internal Revenue Service is auditing bonds issued in 2006 by the Orange County Health Facilities Authority in Florida for Orlando Regional Healthcare System, now Orlando Health Inc.

The Internal Revenue Service is auditing two bond issues sold in 2007 by Colorado authorities for a university and a health care borrower.

The Treasury Department and Internal Revenue Service have released final regulations concerning the process for recovering overpayments of arbitrage rebate on tax-exempt and tax-advantaged bonds.

The Internal Revenue Service concluded that an Indian tribe's authority is a political subdivision that can issue tax-exempt bonds. The agency also granted a school district an extension to spend the proceeds of qualified school construction bonds it issued.

Consumer credit increased by $15.9 billion, or 5.9%, in September to $3.267 trillion, the Federal Reserve reported Friday.

Government Finance Officers Association officials said it makes sense that draft standards on other post-employment benefit financial reporting are similar to the new standards for pension reporting.

Republicans won enough races in Tuesday's midterm elections to gain control of the Senate - the first time they've controlled both chambers in eight years. At least two Senators who have sponsored bills relating to bonds and state and local finance during the last two years lost their reelection bids.

Lower income households benefit more from tax-exempt debt than shown by traditional analyses, researchers at the Urban Institute found.

The Independent School District No. 832 in Minnesota is issuing bonds to refund Build America Bonds, and the City of Grand Forks, N.D. has started a process that may lead it to do the same.

Most states are likely to have more new capacity to issue private-activity bonds in 2015 than they did this year, after the Internal Revenue Service raised the minimum state volume and maintained this year's per capita rate.

Business tax professionals expect tax reform in the next several years, with 2017 being the most likely year for enactment, the latest Tax Reform Business Barometer from The Tax Council and Ernst & Young LLP found.

Absent policy and legislative changes, mandatory social spending will pressure the U.S. government's fiscal profile and credit standing toward the end of the decade, Moody's Investors Service said in a report released Wednesday.

The internal Revenue Service is conducting a targeted audit of Philadelphia's series 2010A water and wastewater revenue refunding bonds, $396.46 million of which were issued.

The Internal Revenue Service has released interim guidance on how management contracts and certain accountable care organizations can be structured to avoid excessive private use that would jeopardize the tax-exempt status of bonds.

At least two issuers recently redeemed or said they are planning to redeem bonds issued to finance detention facilities because of private use. One redemption was required under a settlement between the issuer and the Internal Revenue Service and the other was triggered by provisions in the offering document.