IRS Form 1099-INT (Interest Income) is an annual tax statement provided by payers of interest income that total of more than $10 from interest. IRS Form 1099-INT Form must be issued to payee and a copy mailed to or e-filed with the IRS
Who must file:
File Form 1099-INT, Interest Income, for each person:
1. To whom you paid amounts reportable in boxes 1, 3, and 8 of at least $10 (or at least $600 of interest paid in the course of your trade or business described in the instructions for Box 1. Interest Income, later),
2. For whom you withheld and paid any foreign tax on interest, or
3. From whom you withheld (and did not refund) any federal income tax under the backup withholding rules regardless of the amount of the payment.
Report only interest payments made in the course of your trade or business including federal, state, and local government agencies and activities deemed nonprofit, or for which you were a nominee/middleman. Report tax-exempt interest that is not original issue discount (OID) on Form 1099-INT. You do not need to report tax-exempt interest that is OID. Report interest that is taxable OID in box 1 or 8 of Form 1099-OID, Original Issue Discount, not on Form 1099-INT. Report exempt-interest dividends from a mutual fund or other regulated investment company (RIC) on Form 1099-DIV.
Box 1. Interest Income
Box 2. Early Withdrawal Penalty
Box 3. Interest on U.S. Savings Bonds and Treas. Obligations
Box 4. Federal Income Tax Withheld
Box 5. Investment Expenses
Box 6. Foreign Tax Paid
Box 7. Foreign Country or U.S. Possession
Box 8. Tax-Exempt Interest
Box 9. Specified Private Activity Bond Interest
Box 10. Market Discount
Box 11. Bond Premium
Box 12. Bond Premium on U.S. Treasury Obligations
Box 13. Bond Premium on Tax-Exempt Bond
Box 14. Tax-Exempt and Tax Credit Bond CUSIP No.
Boxes 15–17. State Information
How to E-FILE IRS Form 1099-INT:
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IRS 1099 Deadline for 2020
IRS 1099 INT form e-filing deadline for tax year 2020 is April 1, 2020. Now you can e-file form 1099-int copy A with IRS and send the recipient copy through USPS mail using our service. Payers must issue 1099-INT form Copy B to recipients on or before January 31, 2021