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Tax, it isn't a dirty four letter word, however for many of us its connotations are far worse than any curse. It's been found that high tax rates generally relate to outstanding social services and standards of living. Developed countries, from where the tax rate exceeds 40%, usually have free health care, free education, systems to manage the elderly and a higher life expectancy than along with lower tax rates.

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B) Interest earned, except for paid, throughout a bond year, must be accrued after the bond year and reported as taxable income for the calendar year in that your bond year ends.

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