WASHINGTON — The Internal Revenue Service plans to audit one of every two Build America Bond transactions, Steve Chamberlin, a senior manager in the IRS’ tax-exempt bond office, said during a teleconference Tuesday sponsored by the National Association of Bond Lawyers.
That means the IRS will conduct more than 672 BAB audits just based on the number of issues sold as of Tuesday — 1,345 issues totaling $104.78 billion, according to Thomson Reuters.
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