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1996 Savings Bonds Stop Earning Interest, Triggering Tax Warning

Original: The Savings Bonds She Bought in 1996 Stop Earning This Year. If She Deferred the Tax, 30 Years of Interest Hit One Return Whether She Cashes Them or Not, and Medicare Will Read It

US savings bonds purchased in 1996 reach final maturity this year, meaning they stop accruing interest. For holders who deferred federal tax on the interest, the entire 30 years of accumulated gains becomes taxable in a single tax year — whether or not the bonds are redeemed. Tax writers warn this lump-sum income could also raise Medicare premium brackets.

Why now: Longtime bondholders are facing a one-time tax spike and possible Medicare surcharge as their 1996 bonds mature this year.

US savings bondsInternal Revenue ServiceMedicare

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• The Savings Bonds She Bought in 1996 Stop Earning This Year. If She Deferred the Tax, 30 Years of Interest Hit One Return Whether She Cashes Them or Not, and Medicare Will Read It · 24/7 Wall St.

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