Under present federal income tax law, the interest income from municipal bonds is exempt from federal income taxes. (investinginbonds.com)
Every year, the IRS makes some changes to the US Federal income tax laws. (teenanalyst.com)
The Conferees are aware that present Federal income tax law prohibits the use of direct or indirect Federal guarantees in combination with tax - exempt debt (section 149 (b) of the Internal Revenue Code of 1986. (transportation.gov)