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The Water Cooler
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Tis the season!
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<blockquote data-quote="turkeyrun" data-source="post: 3711513" data-attributes="member: 27991"><p>Got a statement from bank today. Interest earnings being sent to IRS.</p><p></p><p>I AM PO'd</p><p></p><p>Treasury Bonds, bought from goobermint. 20 year maturity. So, you loan money to goobermint, they keep it 20 years, pay a pittance in interest, THEN taken income tax on the interest.</p><p></p><p>I was certain, I was told Treasury Bonds were a good buy because the interest was not taxable.</p><p></p><p>Anybody have knowledge / experience?</p><p>Accountants? Tax preparer? IRS Agents?</p></blockquote><p></p>
[QUOTE="turkeyrun, post: 3711513, member: 27991"] Got a statement from bank today. Interest earnings being sent to IRS. I AM PO'd Treasury Bonds, bought from goobermint. 20 year maturity. So, you loan money to goobermint, they keep it 20 years, pay a pittance in interest, THEN taken income tax on the interest. I was certain, I was told Treasury Bonds were a good buy because the interest was not taxable. Anybody have knowledge / experience? Accountants? Tax preparer? IRS Agents? [/QUOTE]
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