2301 Harrisburg Pike
Lancaster, Pa 17601
717-898-3278 or 717-490-6489
For Life's Taxing Moments...
Owned and operated by William J Waters CPA, CFP, MBA). ALM Tax Service has the expertise and experience to handle all tax preparation and planning for individuals and small businesses. We also offer payroll services, bookkeeping services, and financial consulting. William J Waters is a CPA and is admitted to practice before the Internal Revenue Service. He is licensed in the State of Pennsylvania and Illinois.
Members of the staff at ALM Tax Service include:
Robert B Nunemacher, Bob is a graduate of Lehigh University with a BS in Mechanical Engineering has over 19 years of experience preparing individual income tax returns and had owned and operated his own tax preparation business prior to joining ALM Tax Service.
Megan Waters, Megan is a graduate of Millersville University with a BS in Accounting and has been preparing individual tax returns for 5 years.
ALM Tax Service is located in Lancaster, Pa at 2301 Harrisburg Pike in the Golden Meadows Business Park behind Reality Church.
Call our office at 717-898-3278 or 717-490-6489 if you have a tax question or have a need for our services.
DO YOU OWN SERIES EE OR I SAVINGS BONDS? Do you have savings bonds that have matured and stopped earning interest? It is important to check your savings bonds to see if they are still earning interest. How long savings bonds earn interest depends on the issue date. Series E bonds, issued from May 1941 through November 1965, earned interest for 40 years. If you own any Series E bonds, they are no longer earning any interest. Bonds issued after November 1965 mature in 30 years. Series I bonds mature after 30 years. Lost or misplaced bonds can be reissued by filling out Form PD F 1048.
Series EE Bonds
Series EE bondsreplaced the Series E bonds in 1980. Both these bonds were traditionally issued as a paper bond but can now be purchased in electronic form. Paper bonds were sold at a discount, and the difference between the redemption value and purchase price is the interest. Series EE must be held for a minimum of one year; there is a penalty of three months interest, if redeemed during the first five years. The method for calculating the interest on savings bond has changed several times.
Taxability of Interest
Interest on savings bond is subject to federal income tax, but not state income tax. Who is responsibility for paying the tax on these bonds? If a bond is purchased with one name on the bond, that person is responsible for the tax. If a taxpayer buys a bond with a co-owner, the person whose funds bought the bond is responsible for the tax. If two persons buy a bond as co-owners with each contributing the purchase, both owners are responsible for the tax in proportion to the amount paid.