Municipal Bonds Tax Exemptions

News & Analysis as of

FINRA Fines UBS for Muni-Interest Reporting Errors

The Financial Institutions Regulatory Authority fined a UBS unit $750,000 for mistakenly reporting customers’ municipal-bond-account interest was tax-exempt, when the firm’s handling of the trades made it taxable instead....more

FINRA Warns on Muni Shorts & Fails: Substitute Interest is Taxable

FINRA issued its late-July Regulatory Notice 15-27 warning brokerage firms that inadvertent short positions or fail-to-delivers in municipal securities trading can create situations where the member-firm pays a customer...more

Tax-Exempt Financing Provisions on the Table as Congress Considers Tax Reform

Recent legislative discussions concerning tax reform have included the potential elimination of several federal provisions long considered sacred to state and local governments and untouchable by federal policymakers. Those...more

You Don’t Have to Pay for a Post Issuance Compliance Policy…But Have You Adopted One Yet?

A number of municipal entities have been receiving a solicitation to purchase a post-issuance debt policy and procedure manual. The advertisement suggests that having such a policy is required by the Internal Revenue Service...more

"28% Cap" Unlikely to Trigger Wave of Municipal Bond Tax Calls

Market commenters have suggested that billions of dollars in municipal bonds may be subject to par redemptions if the much-discussed “28% cap” on the value of certain federal income tax deductions or exclusions is enacted and...more

Tax Law Blog: Attacks on the Exemption for Municipal-Bond Interest and Why it is Important to the Average Taxpayer

Tax reform is a big topic in today’s news and much of the presidential campaign and debates were centered on how to get our nation out of debt and back on track. One of the proposed cuts in President Obama’s budget for 2013...more

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