You should have got a receipt or statement from the bank with the interest broken out. Does this interest seem like the right amount? It could be for interest the IRS paid you on your 2022 refund.
I cashed in a lot of bonds in 2022. I got receipts from Wells Fargo, not from the Treasury. I wasn't expecting to get an actual 1099INT from WF but I did!
If it is the saving bond interest put the amount in box 3.
If it is interest on your refund put the amount in box 1. IRS interest 1099 form probably only says 1099 (rev. 9-07) on it. The IRS EIN # on it is 38-1798424.
I did not receive a receipt from the bank that had the interest broken out. And I did not receive a 1099int from my bank for this interest they paid me. Why would the IRS pay me interest on my refund from 2022? This odd paper does have 1099int printed on the side of the form part. It's just odd there is no clue what the interest is for. No numbers on any boxes and really only has one box for an amount printed on it. The rest of the area is used for my information. My question is I can't be the only person to have received an actual 1099int form from the Department of Treasury/Internal Revenue Service. I just want to be sure to report as box 1 interest or is it really box 3 savings bond interest since I received nothing from the bank? If it's box 1, interest on my refund from 2022 because I filed in July because I was in federal disaster area? I never heard anything about the IRS paying us interest on tax refunds. Plus that's a lot of interest for only 3 months & not much of a refund thinking back on it. I think this is making it more confusing than this has to be. All I want to know right now is if anyone else has received a 1099int form like this from the US Department of Treasury?
The IRS pays taxable interest on tax refunds if payment of the refund was excessively delayed.
Maybe you can post a picture of the 1099. Block out your name, address, ssn and personal info. It might say something at the bottom that will be a clue.
Check your 2022 refund deposit with your 2022 tax return line 35a. If the deposit has cents it probably included interest.
Ok, give me a little but. I have to power up my scanner & pc. In the meantime I'll look at the my 2022 refund line.
Oh and let's not lose sight of the fact that you do need to report the savings bond interest.
OK finally did figure it out. The 1099int from the Dept of Treasury was from my 2022 Federal tax refund. I filed in July of 2023 because our county had an extension because of us being in a federal disaster area. I had no idea or every heard of the IRS paying interest on refunds that where delayed in payment. So I thank you very much for pointing that out. Now I have to figure out why my bank didnt report the interest I received on my bonds to me. Looks like I need to get on the phone. Thank You again!
Bank just emailed me a copy of the 1099's that I'm missing for the savings bonds. They said it must have gotten lost in the mail. I received the other 3 from the other account I have with them. All is right and I can finally continue with my return. Thank you all for the help!
My refund was held up by the IRS (I think I was audited, but never notified) When they finally sent my refund it had interest added (again with out any explanation). Later I got the 1099-INTfrom the treasury and was able to figure it out. Just looked here to see what box to put it in. If I read the messages correctly box 1 (so not exempt for my Connecticut taxes).