Quote:
Originally Posted by clekr
IF the agent's ascertain that the bonds are tainted due to the relationship between the developer and the CDD's this just means that the interest paid on the bonds is taxable to the purchasers of the bonds. Nothing more........
|
While technically this is true, historically speaking, the IRS has almost never done this. An exception would be a limited number of investors who had intimate knowledge of the non compliance of the bond or was financially involved with the issuer.