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IRS Invites Comments on Treasury Decision 8801

Monday, May 16, 2005 - 8:00AM

The Internal Revenue Service (IRS) last week invited comments on Treasury Decision 8801, the arbitrage restrictions on tax-exempt bonds issued by state and local governments and rules regarding the use of proceeds of state and local bonds to acquire higher yielding investments under Section 148 of the Internal Revenue Code. There are no changes being made to the regulations at this time; this review is part of a continuing effort to reduce paperwork and respondent burden as required by the Paperwork Reduction Act of 1995 Written comments will be accepted through July 12, 2005.

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