INDIAN WELLS, Calif. — The Internal Revenue Service plans to audit some Build America Bond issues to determine if they meet the tax requirement on issue price, an agency official said here last week.
“We will be sending out examinations and we will be sending out [information document requests] to specifically inquire about compliance with this requirement,” said Steve Chamberlin, senior manager of compliance and management in the IRS’ office of tax-exempt bonds. But he said the IRS has not yet determined how the BABs will be selected for audits.
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