Bailey Quoted on IRS Tax Dispute Settlement

12 March 2012 The Bond Buyer News

The Bond Buyer

Partner Michael Bailey said the Internal Revenue Service’s (IRS) settlement of a tax dispute over $10.2 million of Build America Bonds issued by Half Moon Bay is a potentially precedent-setting decision that may result in the IRS continuing to settle violations by reducing subsidy payments. However, Bailey noted the approach to determining the amount of reductions for future tax-law violations is still unclear.

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