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IRS TEB Office Reports High Rate of Non-Compliance Among Bond Users

Thursday, October 4, 2001 - 1:45AM

The Internal Revenue Service’s Tax Exempt Bonds (TEB) office reported this week that it found a high rate of non-compliance among issuers and users of tax-exempt bonds during examinations of arbitrage rebates and small issue bonds. TEB conducted field examinations of 104 bonds issued in 1991 and 1992 and found problems in 24 cases. According to the TEB office, of the 24 cases with violations, 17 involved new bond issues and seven involved refunding of bonds.

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