Comments on: State Treasurers push for new Savings Bond legislation http://www.savings-bond-advisor.com/state-treasurers-push-for-new-savings-bond-legislation/ Tue, 07 Sep 2010 19:28:41 +0000 http://wordpress.org/?v=2.0.4 by: Tom Adams http://www.savings-bond-advisor.com/state-treasurers-push-for-new-savings-bond-legislation/#comment-3016 Tue, 17 Apr 2007 18:45:08 +0000 http://www.savings-bond-advisor.com/state-treasurers-push-for-new-savings-bond-legislation/#comment-3016 Bro Chuck - actually, you can't depend on the 1099-INT having the current tax year on it. Some of the places that redeem Savings Bonds backdate the tax-year on the 1099 to the year the bond stopped paying interest. When that happens, the owner has to file an amended tax return for that year. Tom Adams Bro Chuck - actually, you can't depend on the 1099-INT having the current tax year on it.

Some of the places that redeem Savings Bonds backdate the tax-year on the 1099 to the year the bond stopped paying interest.

When that happens, the owner has to file an amended tax return for that year.

Tom Adams

]]> by: Bro. Chuck http://www.savings-bond-advisor.com/state-treasurers-push-for-new-savings-bond-legislation/#comment-3015 Tue, 17 Apr 2007 17:48:36 +0000 http://www.savings-bond-advisor.com/state-treasurers-push-for-new-savings-bond-legislation/#comment-3015 Technically, savings bond interest is taxable in the year of maturity, whether the bonds are redeemed or not. It's unlikely that the IRS will catch anyone who redeems late, as the 1099-INT's show the payment year, not the maturity date. Technically, savings bond interest is taxable in the year of maturity, whether the bonds are redeemed or not.

It's unlikely that the IRS will catch anyone who redeems late, as the 1099-INT's show the payment year, not the maturity date.

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