EE bonds & Fed. income tax

EE bonds purchased 10/1986 will mature 2016.
they are face $1000.
I plan to cash 4 more this yr ( cashed 2 this week ) to be under $10,000.to
maintain 15% income tax bracket.
Plan to cash 6 bonds in 2015 also to maintain 15 % bracket.
Plan to cash remainder which will put me over to a higher bracket for just
this one year, I presume.
Am I justified in what I am doing or are there any other suggestions?
I was thinking that I could leave them without cashing , accruing no
interest but pay the tax upon redemption but now find that I’m wrong & will
be penalized if not cashed upon maturity.
I am 81 y.o., widow with approx. $28,000. yearly income.

Terry Says:  Yes, I recently posted — and double checked — but even if you don’t cash in the bonds at maturity, the tax is due!  Now, frankly, I’m not sure how closely the IRS is monitoring the tax due — but when you eventually cash them in, or when you die, they will be matched to your Social Security number and taxed.  And I’m not quite sure what the penalty is for not declaring the interest on your return in the year in which they mature.  I’m checking on that.  And if you gift them, the tax on the accumulated interest would still be due.  What a shame that after all these years, you find yourself in this situation, where cashing them in could put you in a higher tax bracket, possibly cost you some govt benefits!  But at least you have the money!