Tax

Calculations of the impact on municipal yields of tax rate cuts are a simplification of how prices are set in bond markets and should not be relied upon.

Scottsdale settles dispute with IRS with payment of almost $751,000 and its authority settles claims with bond counsel for $75,000.

U.S. mayors and other municipal market participants are stepping up pressure on Congress to maintain the tax exemption on municipal bonds, after President-elect Donald Trump said he supports the tax break that they say is crucial for funding infrastructure projects.

Otero County, N.M. disclosed the IRS said its bonds did not comply with tax requirements.

The Internal Revenue Service is auditing $55 million of general obligation limited tax water reclamation bonds that were issued in 2007 by the Clark County, Nev. Water Reclamation District.

WASHINGTON – Rep. Richard Neal, a long-time supporter of municipal bonds, was named ranking minority member of the powerful House Ways and Means Committee on Friday.

Two Democrats who have some experience with municipal bonds, one much more so than the other, are vying to replace Rep. Sander Levin, D-Mich., as ranking minority member of the powerful House Ways and Means Committee that will play a key role in tax reform efforts.

The Internal Revenue Service notified the Judson Independent School District near San Antonio that the district’s $240.8 million of 2007 bonds were the subject of a routine audit.

The National Association of Bond Lawyers wants the Treasury Department and Internal Revenue Service to revise the management contract guidance released in August, which it says is confusing and could limit the usefulness of safe harbors in short-term contacts.

WASHINGTON – Capping the tax exemption for municipal bonds over a nine-year period would have cost state and local governments roughly $175 billion in additional borrowing costs, while a full repeal would have cost them nearly $500 billion more, state and local officials warned Tuesday.