Baptist Health South Florida in Coral Gables will pay $597,751 to the Internal Revenue Service to settle an investigation into the system's 2007 bond offering, according to a South Florida Business Journal report.
The IRS decided the $800 million bond offering violated federal codes, as the offering overburdened the tax-exempt market and exceeded interest yield restrictions, according to the report.
Baptist Health has not admitted wrongdoing, and will settle to avoid the costs of a legal battle, according to the report.
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