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Revision as of 06:31, 8 May 2026


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B) Interest earned, nevertheless paid, throughout a bond year, must be accrued after the bond year and reported as taxable income for the calendar year in that the bond year ends.

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The Tax Reform Act of 1986 reduced finest rate to 28%, at the same time raising the bottom rate from 11% to 15% (in fact 15% and 28% became since it is two tax brackets).

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