Refer to the "Ethics & Equity" information reflected on page 4 of the textbook. Prepare a discussion board post commenting on your opinion(s) on corporate versus government bonds (as asked in the question).

When a taxpayer elects to report the income from the bonds on an annual basis, the election applies to all such bonds the taxpayer owns at the time of the election and to all such securities acquired subsequent to the election. A change in the method of reporting the income from the bonds requires permission from the IRS. ETHICS & EQUITY Should the Tax Treatment of Government Bonds and Corporate Bonds Be Different? Taxpayers are permitted to defer the original issue discount earned taken into gross income each year the bond is held. Is this differ- on U.S. Government Series EE bonds until the bonds mature, ence in the tax treatment of income earned on government and corporate bonds defensible in terms of equity? Why or why not? but the original issue discount on a corporate bond must be 388 1272(a)(2). 398 454(a)