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Phila. bonds' tax exemption under IRS scrutiny

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0 comments Travel Deals $255* & up -- Flights from Philly on American, R/T   See all travel deals » Romy Varghese, Bloomberg News Posted: Tuesday, October 28, 2014, 1:08 AM Philadelphia water and wastewater revenue bonds sold in 2010 are being audited by the IRS to verify that they meet tax-exemption requirements, the city said in a filing. The city received a notice from the agency around Oct. 8 that the $396 million issue was being examined because of "concern that the debt issuance may fail one or more provisions" of the code regarding tax-free securities, according to a posting on the Municipal Securities Rulemaking Board's website....

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