Series EE Bonds
Description and Definition of Series EE Bonds
U.S. Savings Bonds issued after 1979. Most people defer the federal income taxes on these bonds until they are redeemed or they mature. However, you can elect to pay the taxes each year. Savings bonds are not taxed by state or local governments. You can also reinvest the principal and the accrued interest into Series HH bonds without incurring current tax. Series HH bonds pay interest every six months.
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