IRS urges municipal issuers to track BABs' trading

05/26/2010 | Bond Buyer (free content), The

The Internal Revenue Service is encouraging municipal issuers to use the Electronic Municipal Market Access System to monitor trading of their Build America Bonds. The IRS is concerned about the price of some BABs. "The IRS is troubled when we see an upward trend in prices and that some apparently public purchasers are buying bonds at prices in excess of the initial offering price in what appears to be the primary market," said George Gurrola, a tax-law specialist at the IRS. "If this is indicated in the trading record for your BAB issue, an explanation should be sought."

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Bond Buyer (free content), The