Are savings bonds taxable?

Savings bonds are a type of debt security issued by the federal government. They are available in two different types: Series EE and Series I. Savings bonds are intended to be long-term investments, and they typically have maturities of 20 years or more. Interest on savings bonds is exempt from state and local taxes, but it is subject to federal taxes. The interest rate on savings bonds is determined by the issuing agency, and it may change over time. However, once a savings bond is purchased, the interest rate is locked in for the life of the bond. Because of this, savings bonds can be a good option for taxpayers who want to earn a fixed rate of return on their investment.

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