CHICAGO —The Internal Revenue Service will begin limited-scope examinations of bond anticipation notes in July and then examinations of filed 8038-T forms on arbitrage rebate later in the year, an IRS official said at a conference Sunday.

The IRS will send out letters for 25 bond anticipation note examinations beginning July 1 as part of their ongoing effort to focus on compliance with arbitrage rules and regulations, acting IRS tax-exempt bond field manager Allyson Dodd said on an enforcement panel at the Government Finance Officers Association’s annual conference here.

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