CHICAGO — The Internal Revenue Service will soon publish a report about their findings from 300 questionnaires they sent out last year to governmental and 501(c)(3) issuers about their advance-refunding procedures and post-issuance compliance, an agency official told bond lawyers at a conference here.

One of the biggest takeaways was that while all of the respondents had post-issuance compliance procedures, less than half of the issuers had actual written procedures in place, said Carl Scott, technical advisor for field operations in the IRS' tax exempt bond office.

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