savings bond issued by the U.S. government from 1941 to 1979. Generally issued at 75 cents per dollar face value, maturing at par in a specified number of years that fluctuated with the rate of interest. Ataxpayer may report the interest income each year or report the entire amount when the bond is cashed.
savings bond issued by the U.S. government from 1941 to 1979. The bonds were then replaced by Series EE and Series HH bonds. Outstanding Series E bonds, which may be exchanged for Series HH bonds, continue to pay interest for between 30 and 40 years from their issue date. Those issued from 1941 to November 1965 accrue interest for 40 years; those issued from December 1965 and later, for 30 years. Their interest is exempt from state and local income and personal property taxes.
