US Tax treatment of 10 year bond

[goldstone]

I've googled a lot but have been unable to find a clear answer to this question.

An individual buys a corporate or other bond which doesn't pay a coupon but reinvests the annual interest and which matures in , say, 10 years.
Does he have to report the implied interest each year in his tax return or does he pay tax on the full amount at maturity in 10 years ?

Thanks for any advice on this.

[pairzone]

I guess this is a problem for small-scale businesses so it definitely can't be found on google. Have any new information on this issue?