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Muni bonds should be owned within your taxable brokerage accounts, and do not transfer pricing in your IRA or 401K accounts because income in those accounts is definitely tax-deferred.

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In addition, the exclusion is not the only good thing that frequent. The income level at which each tax bracket applies seemed to be increased for inflation.

Bottom Line: The IRS doesn't love your social status. The government only cares about one thing- getting cash. You can offer dodged the government for now, but similar to they overly enthusiastic to Wesley Snipes- they will catch up to you. Feel free in settling your Tax Debts!

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