Richard Johnson held $50,000 of U.S. government savings bonds on the date of his death, December 11, 2019. The bonds mature in 2020. Unreported interest income on these bonds at the date of Richard's death amounted to $14,700. It is anticipated that Richard will be in the 24 percent marginal income tax bracket on his final income tax return. The one beneficiary to Richard's estate is expected to have a 12 percent marginal tax bracket in 2019 and a 24 percent marginal tax bracket in 2020. List and discuss some tax planning options that are available to the executor of Richard's estate and to the beneficiary of Richard's estate in regard to the recognition as income of the unreported interest income on the U.S. Government bonds.