ATLANTA — The head of the Internal Revenue Service’s tax-exempt bond office said yesterday that it’s premature for issuers to focus on the number of Build America Bond audits the IRS will conduct because the office is still gathering as much information about BABs as possible and ultimately wants to devote its energies to finding true abuses in the muni market.

Clifford Gannett, the head of the TEB office, made the remarks — the latest attempt by federal officials to calm BAB issuers’ concerns that they could face an extremely high risk of an IRS audit — during a panel discussion on post-issuance compliance at the Government Finance Officers Association’s annual meeting here.

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