WASHINGTON — The Internal Revenue Service is auditing two separate issuers as part of a new initiative to determine the accuracy of filing form 8038-T.

The Service is auditing $36.72 million of variable rate revenue bonds the University Hospitals Trust of Oklahoma issued in 2005. The IRS notified the UHT that the Series 2005A bonds had been selected as part of a routine examination but it was part of a project involving arbitrage compliance in connection with the filing of form 8038-T.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.