WASHINGTON — Four municipal market groups are urging the Treasury Department and the Internal Revenue Service to publish guidance on the determination of issue price for tax-exempt, tax-credit and direct-subsidy bonds.

In an Aug. 16 letter addressed to Treasury Assistant Secretary for Tax Policy Mark Mazur and IRS Chief Counsel William Wilkins, the groups stressed "clear guidance is needed to help all market participants avoid unnecessary tax audits, and to be able to address issue price matters in IRS questionnaires and other inquiries without the confusion that exists under the current regulations."

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