Issuers of School Construction Bonds Asked to Describe Compliance

Some issuers of qualified school construction bonds have received an IRS check questionnaire, asking them to describe their policies and procedures, the Service announces. Notices were sent to 111 qualified school construction bond issuers, asking questions about debt management and volume cap policies and procedures, procedures for determining issue price, how the issuers handle record retention, and their procedures on the timely identification and correction of tax law violations.