Quote:
Originally Posted by graciegirl
The interest on Municipal bonds is not usually taxed. We are a CDD form of government, a huge complex that has no outside funding. Unusual but very successful way to do things as we all can see. Our lawyers, hired by the developers, may hold this in limbo for years to come.
It is NOT an issue of somebody doing something wrong, it is an issue of how the IRS interprets it.
Municipal bond - Wikipedia, the free encyclopedia |
I may be misunderstanding part (or all) of this, but shouldn't an IRS ruling gave been requested PRIOR to issuing the bonds in view of the fact that this is an unusual issuing entity?