Interest Paid by IRS

Financial Planning Tax Strategies
1

I received a letter from the IRS stating that they had paid me interest in 2021 that must be reported on my tax filing.

However, it was not a 1099-INT, or any other form. Just a letter notification.

I presume I must manually enter this as a random source of interest. Surely with all the sophisticated computer wizardly at the IRS, they could gin up a 1099… Is this normal?

🆁🅶🅱
post tenebras lux
For not in my bow do I trust, nor can my sword save me.

2

Was the interest less than $10 which would cause a 1099 to be issued?

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3

I received a letter from the IRS stating that they had paid me interest in 2021 that must be reported on my tax filing.

However, it was not a 1099-INT, or any other form. Just a letter notification. - RoyGeeBiv

I too received such a letter for interest paid on my 2020 refund. And I initially thought the same as you, “Gee just a letter, you would think the IRS would use a real a 1099.”

BUT upon closer inspection, on the left margin of the letter, written vertically in a very light font was “1099-INT”. That made me feel better, but I am not sure why since I had to declare the income either way.

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4

BUT upon closer inspection, on the left margin of the letter, written vertically in a very light font was “1099-INT”

A-ha! You are correct. It must be time to have my eyes rechecked :crazy_face:

Thank you!

🆁🅶🅱
post tenebras lux
For not in my bow do I trust, nor can my sword save me.

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