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Series HH savings bonds are current-income securities. This means that, unlike the EE bond, the HH bond itself doesn’t increase in value. When an HH bond is issued, you pay the face amount for the HH bond and interest is paid each six months, providing you with “current income.”
The interest payments on HH bonds are made by direct deposit to your checking or savings account at a financial institution.

The method of keeping accounts which shows all expenses incurred and income earned for a given period of time, even though such expenses and income may not actually have been paid or received in cash during the same period of time.

Amounts due the company on account from customers who have bought merchandise or received services. Accounts Receivable is a current asset on the Balance Sheet.

Obligations to pay for goods or services that have been acquired on open accounts from suppliers. Accounts Payable is a current liability in the Balance Sheet.

Statement, at a particular point in time, of the financial position of a business or organization. This is generally divided into three parts: assets, liabilities and ownership, or equity. Also known as Statement of Financial Position.

Negotiated debt obligations that the U.S. government regularly offers at public auction through the Federal Reserve Bank. Treasury bills, bonds and notes have varying maturities and yields.

A Treasury bill is a negotiable debt obligation issued by the U.S. government, also called a T-bill. Treasury bills mature in one year or less, are exempt from state and local taxes, and range in value from $10,000 to $1 million; they sell at a discount based on current interest rates.

A financial statement showing the impact of operating, financing and investing activities effecting the cash position of the company. Also known as the statement of Changes in Financial Position.

Cumulative net incomes of a corporation less losses and dividend distributions to shareholders, profits not distributed is referred to Retained Earnings. If the accumulated earnings are exceeded by losses, then it is referred to as Accumulated Deficit. It is reflected in the equity section of the balance sheet.

Generally, any business must file a 1099 if it paid money in excess of $600 to an individual during the year. This includes payment for contract services as well as interest, capital gains or dividends.
There are more than 15 different types of Forms 1099, each for reporting different kinds of income.
These are forms used by the Internal Revenue Service to track individual income that isn't reported on a W-2 as wages.
Contract workers and investors usually have more income on Forms 1099s than on a W-2.
The business and entities that make these payments have the obligation to prepare and file Form 1099.