If you earned interest from savings accounts, CDs, or investments in 2025, you’ll likely receive Form 1099-INT Interest Income. Reporting it correctly is crucial to stay IRS-compliant and avoid penalties. This guide explains deadlines, reporting steps, penalties, and recommended tools in plain language.
Need help filing? Call +1-866-513-4656 to speak with a tax expert.
What Is Form 1099-INT?
Form 1099-INT is issued by banks and financial institutions to report taxable interest income. The IRS considers all interest earned taxable, even if you haven’t withdrawn the money.
Common Sources of 1099-INT Interest Income
- Savings and checking accounts
- Certificates of Deposit (CDs)
- Money market accounts
- Treasury bonds and notes
- Taxable investment interest
The form is sent to both you and the IRS, so accurate reporting is essential.
Form 1099-INT Interest Income Deadline
The key deadline to remember:
- Recipient Deadline: January 31, 2026
- Tax Year Covered: 2025 interest income
If your form is missing or incorrect, call +1-866-513-4656 for fast resolution.
How to Report Form 1099-INT Income
Follow these steps to ensure accuracy:
1. Review the Form Carefully
Check the payer’s information, interest amount, and any federal tax withheld.
2. Report on Schedule B (Form 1040)
Interest income is usually reported on Schedule B if total interest exceeds IRS thresholds.
3. Include It in Total Taxable Income
All taxable interest must be reported, no matter how small.
4. Use Trusted Platforms for Filing
You can use trusted platforms like:
These platforms simplify reporting, reduce errors, and speed up processing.
Penalties for Missing the 1099-INT Deadline
Failing to report Form 1099-INT correctly can result in:
- IRS notices or audits
- Penalties for underreported income
- Interest on unpaid taxes
Since the IRS receives a copy of your 1099-INT, mismatches are quickly flagged. Avoid mistakes by calling +1-866-513-4656 for professional assistance.
Best Practices for Accurate 1099-INT Filing
- Keep all bank and investment statements organized
- Compare amounts with your 1099-INT forms
- Report interest from all financial institutions
- File early to avoid last-minute errors
- Get expert help if you have multiple accounts
Why the IRS Closely Monitors Interest Income
Interest income is often underreported. Automated IRS systems match your reported amounts with financial institutions’ records, making accuracy crucial to avoid penalties or audits.
Final Thoughts
Accurately reporting Form 1099-INT Interest Income is essential for staying IRS-compliant. Whether you earned interest from one account or several, proper reporting ensures your finances are protected.
For expert assistance, call +1-866-513-4656 and file with confidence.
FAQs
1. What if I don’t receive my Form 1099-INT by Jan 31, 2026?
Contact your bank immediately. If unresolved, estimate your interest and report it. Call +1-866-513-4656 for guidance.
2. Is interest taxable if I didn’t withdraw it?
Yes. The IRS taxes interest when earned, not when withdrawn.
3. Do I need to report very small amounts of interest?
Yes. All taxable interest must be reported.
4. Can I e-file my return with Form 1099-INT income?
Absolutely. Platforms like TurboTax and QuickBooks make e-filing accurate and easy.
