IRS Tax Questions on Inherited Savings Bonds

According to TreasuryDirect:

The interest earned on your savings bonds is subject to federal income tax, which can be deferred until redemption, final maturity, or other taxable disposition, whichever occurs first.

What happens with the taxes if you inherit savings bonds that had matured many years ago? That is the question asked to Dr. Don at Bankrate.com. Dr. Don provides some general tips and resources on this issue.