You can defer federal income tax on the interest from savings bonds until you redeem them or until 30 years. Dr. Don from Bankrate has some useful tips
for a reader who wants to consolidate his savings bonds and avoid having to pay taxes. You used to be able to exchange EE savings bonds into HH savings bonds, but that's no longer possible. The best way to consolidate these days is to convert paper bonds into electronic bonds at TreasuryDirect.