Bailey Quoted on Rush of Build America Bonds Deals

Partner Michael Bailey was quoted in an article that appeared in The Bond Buyer on December 21, 2010 titled “Rush for BABs May Draw IRS Scrutiny; Beware the Risk of Last-Minute Deals.” Bailey discussed a number of questionable Build America Bonds (BABs) deals that were rushed to market before expiring tax incentives begin increasing the risk of Internal Revenue Service enforcement action for violations of tax requirements. He stated that he would like to see the IRS adopt recommendations made with regard to the voluntary BABs closing agreement program.