WASHINGTON -- Treasury and Internal Revenue Services officials have decided, in the wake of the Supreme Court's Cottage Savings decision, to proceed with the review of a draft revenue ruling that would curb call-waiver bonds by treating them as being reissued and subject to current stricter tax laws.

High-level IRS officials decided certain revenue rulings could be put through the regulatory system in spite of the court decision. Among the officials at the meeting were IRS Commissioner Fred T. Goldberg and Treasury Assistant Secretary for Tax Policy Kenneth W. Gideon.

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