• Trustees May Be a Target of IRS Audits
  • May 9, 2004
  • Law Firm: Nixon Peabody LLP - New York Office
  • A recent article in The Bond Buyer reported that the IRS will begin an audit program sweep this summer to examine whether the failure by trustees to roll escrow funds held under refunding escrows for tax-exempt issues into zero-interest rate State and Local Government Series (SLGS) securities may have resulted in issuer arbitrage violations.