A Sad Story ForUS Savings Bonds
On the web site TreasuryDirect.gov, I was unable to find reference to the penalty for not reporting accrued income in year bonds mature. Please give me direction where to find more on this.
Thank you
Terry Says: Here’s alink to the IRS website that explains that interest on Series EE bonds MUST be reported in the year they mature or the year in which they are cashed in, whichever comes first! http://www.irs.gov/Help-&-Resources/Tools-&-FAQs/FAQs-for-Individuals/Frequently-Asked-Tax-Questions-&-Answers/Interest,-Dividends,-Other-Types-of-Income/Savings-Bonds/Savings-Bonds-1