WASHINGTON — Issuers of direct-pay Build America Bonds will be able to receive their subsidy payments from the Treasury Department electronically beginning in 2010, a top Internal Revenue Service official said yesterday.

Clifford Gannett, the director of the IRS’ bond office, promised the bond community that BAB issuers will be able to opt into an electronic direct-deposit program next year, as an alternative to the current arrangement under which checks are mailed to issuers. He made his comments during a teleconference sponsored by the National Association of Bond Lawyers.

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