As question states, I got a form from the IRS saying I got interest in a not-insignificant amount but I definitely have not. I've never even heard of a 1099 before and now I apparently owe a lot of money for interest on some vague thing and I'm at a full loss on what this is for, what could it even be for, where it came from, etc. This interest money certainly never went into my bank account and I'm rather panicky over this. I have no idea what it's for or why I got it and I've already filed my taxes before I even recieved this form, adding another layer of panic. Can anyone help me?
Call the IRS concerning this issue with the interest payment.
Call the IRS: 1-800-829-1040 hours 7 AM - 7 PM local time Monday-Friday
When calling the IRS do NOT choose the first option re: "Refund", or it will send you to an automated phone line.
So after first choosing your language, then do NOT choose Option 1 (refund info). Choose option 2 for "personal income tax" instead.
Then press 1 for "form, tax history, or payment".
Then press 3 "for all other questions."
Then press 2 "for all other questions."
- When it asks you to enter your SSN or EIN to access your account information, don't enter anything.
- After it asks twice, you will get another menu.
Press 2 for personal or individual tax questions.
Then press 3 for all other inquiries
It should then transfer you to an agent.
That is normally the result of getting a refund of taxes paid in a prior year. The IRS will pay you interest if they owe you money for a significant amount of time. It would be included in the refund sent to you. If you didn't receive anything from them, then you need to call and find out why it was reported to you, as mentioned by @DoninGA .