You may have heard recently about proposals for Congress to remove the exclusion from gross income of interest on state and local bonds, usually referred to as “repealing the tax exemption on municipal bonds.” This issue...more
3/12/2025
/ Exclusions ,
Federal Budget ,
Interest Payments ,
IRS ,
Municipal Bonds ,
State and Local Government ,
Tax Code ,
Tax Exemptions ,
Tax Reform ,
Taxation ,
U.S. Treasury
On November 16, 2021, the Internal Revenue Service (IRS) publicly previewed a draft of a revised Form 8038-CP (Return for Credit Payments to Issuers of Qualified Bonds), along with updated filing instructions and a new...more