WASHINGTON — In the absence of clearer federal tax rules on issue price, a handful of bond lawyers have taken it upon themselves to assist issuers in reviewing and understanding the Municipal Securities Rulemaking Board's EMMA pricing data for new muni bonds, sources said.

Depending on the circumstances, the issuers and their lawyers may wind up having discussions with the underwriter to learn more about its marketing process. However, it's relatively uncommon for that process to continue beyond the closing or involve every deal and every situation, according to sources.

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