WASHINGTON — The Internal Revenue Service has launched a compliance practice research team that will seek to identify red-flags indicating questionable municipal bond transactions.

“Particularly, the team is looking for initiatives that might suggest bid-rigging and price-fixing,” Cliff Gannett, director of the IRS’ tax-exempt bond office, who first envisioned the project, said at the Council of Infrastructure Financing Authorities’ federal policy conference here on Monday.

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.