I invested significant amounts in several 1-year CDs last May and the interest accrued for 8 months through 2024, and has been reported on my 2024 1099-INT. My previous research indicated that 1 year or less CD interest can be reported upon the maturity which would be May 2025. Do I have to pay tax for the amount accumulated in the last year (2024), and if YES can I get away without paying penalty?
