CHICAGO - The Internal Revenue Service's tax-exempt bond branch has established a task force to identify and notify bondholders when the IRS has issued a proposed adverse determination letter warning that the bonds they hold may be taxable.

Robert Henn, senior manager of TEB field operations, told attorneys meeting here that the bondholder unit was established in June, in order to enable the IRS to more quickly find the bondholders if they have to tax their interest earnings because of tax law or regulatory violations. Henn was speaking on a tax enforcement panel at the National Association of Bond Lawyers' annual Bond Attorneys' Workshop here.

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