Quote:
Originally Posted by gomoho
If what you say is correct- "the bondholders who receive tax free income" how in the world could residents in TV be held responsible for their tax debt?
Even if the were sold as "tax free bonds" wouldn't it be a "buyer beware" situation?
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It would seem so. Most tax free bonds are sold with a legal opinion. We would have ti see what it said in that document. I would have to assume that full risks were disclosed. I doubt the IRS would go after someone who purchased these bonds for back interest if they were called. IMHO.