In May of this year, Congress passed a law that widens the muni income reporting requirements. For the first time, all financial institutions that sell municipal bonds or hold them for their clients, including banks and stock brokerage firms, will be required to provide the IRS with the muni bondholders' info relating to payments of tax-exempt interest paid in 2006.
More info:
http://www.fmsbonds.com/com102706.html
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