Quote:
Originally Posted by OpusX1
There is one thing everyone is missing. The issuance of tax free bonds requires special lawyers, Bond Consul, Bond Consul writes the bonds and the bonds are approved by The IRS as non taxable bonds prior to being sold.
If a mistake is made by Bond Consul causing the IRS to claim the Bonds as taxable then Bond Consul and their insurance are as much on the line as the issuer of the bonds. There are many deep pockets in front of the residents. .......
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This is exactly what I've thought all along. These "non-taxable" bonds had to be legally approved for selling them as such, and if the lawyers/bond consul made a mistake in saying they were "non-taxable" under IRS rules, it would be malpractice on
their part.
Why would we home buyers be liable for a seller's misrepresentation to us?