One more week until Tax Night out. Have you filed yours yet? I haven’t (probably should onboard that, actually), and when I read in USA Today that roughly 47% of Americans won’t even need to worry about paying federal income taxes, I start to wonder if I ought to even bother. Oh sure, there’s the threat of prison time for tax evasion, but really, what is the point if half the damn country isn’t going invest up and jump off scot-free?
B) Interest earned, although not paid, throughout a bond year, must be accrued after the bond year and reported as taxable income for the calendar year in that this bond year ends.
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