Washington update.(taxation issues: electric deregulation, bond law; Superfund)

Nation's Cities Weekly, August, 1997

The US Internal Revenue Service will probe as many as 200 cities' payment levels of Social Security taxes in 1998, and will publish new rules on taxation of municpal bonds held by privatized electric utilities. New Superfund regulations on local liability for municipal waste sites are being debated.

IRS Sets Municipal Agenda

The Internal Revenue Service (IRS) and the U.S. Treasury announced an ambitious agenda of key municipal issues as top priorities. The parent and child agencies have set forward an agenda that includes a "major initiative" to focus on state and local payments of Social Security taxes, efforts to determine the impact of electric utility deregulation on municipally owned utilities, and accelerated examinations of so-called municipal...

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