Municipal Bond Interest Tax-Free

One unobvious issue.   Money in IRA is only subject to income tax when you take a distribution (except from a Roth IRA).  So there is only an advantage in a non-IRA account, which still makes sense even though account is a lot smaller than my IRA.  It just does not have the magnitude of tax reduction.  It still reduces my marginal income tax rate.

Another issue is when the interest payments are made.  Looking at the bonds >4% yield to worst (meaning the government calls the bond) still gives interest payments scattered across different months of the year.