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B) Interest earned, however, not paid, during a bond year, must be accrued after the bond year and reported as taxable income for the calendar year in in which the bond year ends.

But the risk doesn?t stop with mere financial penalization. Punishment may add up to being added too jail and being instructed to pay fines to workers, but government if evasion is blatantly bent.

And seeing that you know some taxpayer rights, could certainly start cutting your taxes by downloading a free tax organizer for individuals and owners here.

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