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B) Interest earned, although paid, during a bond year, must be accrued at the end of the bond year and reported as taxable income for your calendar year in the fact that the bond year ends. Offshore Strategies - An established area of angst for that IRS, offshore strategies in order to be monitored. The IRS is hyper sensitive to such strategies and attempts to shut them down. In 2005, 68 individuals were charged and convicted for promotion offshore tax scams and kontol a great deal of taxpayers were audited with nightmarish studies.

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