WASHINGTON — Municipal issuers and their bond lawyers last week were scheduling meetings to discuss whether the Internal Revenue Service’s compliance push on Build America Bonds will deter them from issuing the bonds in the future or force them to change the offering documents to protect themselves in case the IRS audits the bonds.

The meetings come as IRS officials told The Bond Buyer that they plan to audit up to 50% of all BAB issues, depending on the responses they get from issuers to compliance-check questionnaires and their review of BAB trade data and prices on the Municipal Securities Rulemaking Board’s Electronic Municipal Market Access system, as well as other information.

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