MINNEAPOLIS, MN, November 12, 2010 (Press-News.org) The IRS is more interested than ever in verifying municipal bond pricing, particularly given the popularity of Build America Bonds and other bonds for which the federal government is responsible for paying direct tax subsidies to issuers. MuniPriceTracker offers issuers and bond counsels an efficient way to track the trading activity of all municipal bonds and to clearly demonstrate compliance with IRS regulations.
MuniPriceTracker announced the launch of a new service that will provide professionals in the municipal bond market with an automated system to track the trading of all municipal bonds. MuniPriceTracker was officially introduced at the National Association of Bond Lawyers (NABL) 35th Bond Attorneys' Workshop held in San Antonio in late October. "We introduced MuniPriceTracker at the NABL Workshop because bond counsels are not just interested in, but often responsible for, ensuring that issuers' bonds are compliant with tax law requirements," said Erik Kelly, Senior Vice President. MuniPriceTracker is a web-based tracking system that follows the trading activity of municipal bonds and quickly determines if trading is in compliance with IRS regulations. MuniPriceTracker checks bond price and safe harbor thresholds on a daily basis and sends an email notification if trades fall outside IRS parameters. Early notification of non-compliant trading activity will give issuers and their bond counsels time to determine if trading activity is problematic and to remedy the situation prior to closing. MuniPriceTracker also performs a market comparison to identify whether premium trades can be explained by market movements. At bond closing, MuniPriceTracker will generate a comprehensive report of trading activity, typically from the sale date to the closing date of the bond issue, which can be used by issuers, bond counsels, and underwriters to demonstrate compliance with yield constraints, volume caps, or de minimis premiums.
The IRS can question or audit any municipal bond and look for unusual or unexplained price movements between the issuance date and the closing date. Additionally, the IRS is urging issuers to adopt post-issuance procedures for all tax-favored obligations, including tracking the secondary trading of bonds. According to Mr. Kelly, "We initially conceived and developed MuniPriceTracker in response to questions posed by the IRS on the trading of Build America Bonds in the secondary market, but it can be, and probably should be, used for all bonds, including tax-exempt and qualified private activity bonds. We believe that it will be a valuable tool for municipal market participants, especially issuers and bond counsels." MuniPriceTracker is committed to helping issuers or other market participants get the bond trading information they need to determine whether a bond issue was sold in compliance with existing regulations.
About MuniPriceTracker, LLC
MuniPriceTracker, LLC is a web-based data and technology firm that provides pricing transparency by monitoring bond trading activity. MuniPriceTracker was conceptualized as a tool for bond counsel, issuers, and issuer's counsel to ensure that an issuer's bonds meet the pricing and arbitrage rebate requirements established by the IRS regulations governing Build America Bonds, tax-exempt bonds, private activity bonds, and other governmental issues. MuniPriceTracker was created and is staffed by a group of professionals that have served the municipal bond market in various capacities, including financial advisors, investment bankers, underwriters, and fixed income traders. With 75 years of combined experience, they have worked on thousands of municipal transactions. MuniPriceTracker is an independent compliance and reporting service, and is not affiliated with any bank, dealer, or financial services provider.
For more information about MuniPriceTracker, visit http://www.munipricetracker.com or call (800) 723-3994.
MuniPriceTracker Announces Bond Compliance Services for the Municipal Bond Industry
MuniPriceTracker offers issuers and bond counsels an efficient way to track the trading activity of all municipal bonds and to clearly demonstrate compliance with IRS regulations.
2010-11-12
ELSE PRESS RELEASES FROM THIS DATE:
Great Lakes Academy Online Offers Online Homeschooling Options to Students and Parents Looking for Alternatives to Public Schools
2010-11-12
People looking to find a quality homeschooling option will want to look into information on online homeschooling which is mostly done with an accredited online high school. By using homeschooling, parents are able to make sure their child is in a learning environment that is conducive to what they feel their child needs. Although a lot of students do use these options, many people feel this industry is in its infantile stages of growth. Due to the public school cuts, increases in crime and violence, and now bullying at high schools across the nation, it seems that more ...
Tis the Season for Christmas Lights
2010-11-12
By testing your Christmas lights before hanging them up, you will be able to potentially save hours in having to take them down and get new ones if you discover they no longer work. All that is required for you to save time and money is to purchase a reliable tester which can be found in many different stores and on the Internet for an extremely low price that is well worth the money. A tester will be able to tell you which bulbs have gone bad so they can be replaced accordingly. There is almost nothing worse than having to purchase a whole new set of lights because of ...
SEO Consultant Acquires New Client Sign Industries
2010-11-12
Sign Industries, a leading UK sign making manufacturer has chosen to use the SEO consultant services of Absolute Internet Marketing, a UK search engine marketing specialist.
Sign Industries' background and core business to date has been producing signs in many different shapes and forms for companies throughout the UK and overseas. In addition, Sign Industries is a premier sign-making manufacturer and supplier to the UK sign trade.
Sign Industries' consumer offering has been relatively small focusing primarily on designing and crafting memorial plaques. However, given ...
The Ethan Allen Capsizing and Government Liability in New York State
2010-11-12
The Ethan Allen Capsizing and Government Liability in New York State
Five years ago, an overloaded tour boat called the Ethan Allen capsized on Lake George in upstate New York. Of the 47 mostly elderly passengers on board, 20 drowned and ten others were injured.
How did these wrongful deaths and injuries happen and who bears responsibility for it? Hacker Murphy, LLP, a law firm based in Latham, New York, has taken legal action on behalf of the victims and their families against multiple defendants. The defendants included Shoreline Cruises, which owned the Ethan Allen; ...
Simple Checklists Can Aid Doctors, But Red Tape Can Get In The Way
2010-11-12
Simple Checklists Can Aid Doctors, But Red Tape Can Get In The Way
Surgical errors have been a problem for so long that it sometimes seems as if nothing changes. Doctors and nurses keep leaving surgical sponges or other operating room tools inside of patients' bodies or operating on the wrong body part. These chronically repetitive incidents are not some urban legend. They are devastating injuries from which serious medical complications can result, as the foreign objects can act as a magnet for infection.
There have been sophisticated solutions proposed to address ...
Workplace Safety Bill: Protecting Miners and Other Workers
2010-11-12
Workplace Safety Bill: Protecting Miners and Other Workers
Earlier this spring, an explosion at Massey Energy's Upper Big Branch mine killed 29 workers in West Virginia. The tragedy is the deadliest mine accident in four decades, and has prompted legislative debate over measures to toughen workplace safety and increase penalties for all of the nation's employers for what the Idaho Statesman claims would be only the second time in 40 years.
Massey Energy
According to the Statesman, Massey Energy coal mines received hundreds of citations in 2009, including orders ...
Huge Verdict May Deter Bars From Serving Obviously Intoxicated People
2010-11-12
Huge Verdict May Deter Bars From Serving Obviously Intoxicated People
The Court of Common Pleas in Chester County, Pennsylvania, has sent a clear message to bar owners by issuing a $6.8 million dollar verdict to a woman who was injured by a drunk driver. The young woman was seriously injured when a drunk driver, driving down the wrong side of the road, hitthe woman'svehicle in a head-on collision. The drunk driver had been drinking at a restaurant in Coatesville and even though he was visibly intoxicated, the staff continued to serve him alcohol. By some accounts, in ...
Prescription Drug DWI/Vital Signs/Sobriety Tests
2010-11-12
Prescription Drug DWI/Vital Signs/Sobriety Tests
When most people think of DWI, they think of alcohol related drunk driving. But DWI -- driving while impaired -- encompasses more than just alcohol by also referring to driving while impaired by prescription and illegal drugs.
Many prescription drugs, including painkillers, tranquilizers, allergy medicine and antidepressants can have adverse effects on people taking them, even when the medications are taken as prescribed.
In some cases, law enforcement personnel assume that because someone admits to taking a prescription ...
Rash of Industrial Accidents Hits Pennsylvania
2010-11-12
Rash of Industrial Accidents Hits Pennsylvania
The banks of the Ohio River northwest of Pittsburgh, Pennsylvania, have had more than their fair share of tragedy this summer. The river towns of Monaca and Sewickley have lost three employees to industrial accidents at local facilities.
Explosion at Horsehead's Zinc Plant
The first was an explosion at the Horsehead Corporation's Monaca zinc plant on July 22, 2010. A leak in the column where the zinc is oxidized by carbon monoxide and natural gas caused an explosion that cost two workers their lives and injured two ...
British Airways Commences Flights to Cancun
2010-11-12
British Airways flights to Mexico's most important tourist destination, Cancun, took off for the first time at the start of November.
Customers checking in for the inaugural flight were given a taste of Mexico with a Mariachi band to send them on their way.
Flights to Cancun will depart every Wednesday and Saturday from London Gatwick. Due to popular demand, British Airways has already increased the original frequency to three times a week from next summer.
The airline previously flew to Cancun between April 1998 and April 2002.
Richard Tams, head of BA UK & ...
LAST 30 PRESS RELEASES:
Community partners key to success of vaccine clinic focused on neurodevelopmental conditions
Low-carbon collaborative dual-layer optimization for energy station considering joint electricity and heat demand response
McMaster University researchers uncover potential treatment for rare genetic disorders
The return of protectionism: The impact of the Sino-US trade war
UTokyo and NARO develop new vertical seed distribution trait for soybean breeding
Research into UK’s use of plastic packaging finds households ‘wishcycle’ rather than recycle – risking vast contamination
Vaccine shows promise against aggressive breast cancer
Adverse events affect over 1 in 3 surgery patients, US study finds
Outsourcing adult social care has contributed to England’s care crisis, argue experts
The Lancet: Over 800 million adults living with diabetes, more than half not receiving treatment, global study suggests
New therapeutic approach for severe COVID-19: faster recovery and reduction in mortality
Plugged wells and reduced injection lower induced earthquake rates in Oklahoma
Yin selected as a 2024 American Society of Agronomy Fellow
Long Covid could cost the economy billions every year
Bluetooth technology unlocks urban animal secrets
This nifty AI tool helps neurosurgeons find sneaky cancer cells
Treatment advances, predictive biomarkers stand to improve bladder cancer care
NYC's ride-hailing fee failed to ease Manhattan traffic, new NYU Tandon study reveals
Meteorite contains evidence of liquid water on Mars 742 million years ago
Self-reported screening helped reduce distressing symptoms for pediatric patients with cancer
Which risk factors are linked to having a severe stroke?
Opening borders for workers: Abe’s profound influence on Japan’s immigration regime
How skills from hospitality and tourism can propel careers beyond the industry
Research shows managers of firms handling recalls should review media scrutiny before deciding whether to lobby
New model system for the development of potential active substances used in condensate modifying drugs
How to reduce social media stress by leaning in instead of logging off
Pioneering research shows sea life will struggle to survive future global warming
In 10 seconds, an AI model detects cancerous brain tumor often missed during surgery
Burden of RSV–associated hospitalizations in US adults, October 2016 to September 2023
Repurposing semaglutide and liraglutide for alcohol use disorder
[Press-News.org] MuniPriceTracker Announces Bond Compliance Services for the Municipal Bond IndustryMuniPriceTracker offers issuers and bond counsels an efficient way to track the trading activity of all municipal bonds and to clearly demonstrate compliance with IRS regulations.