If bank doesn't issue 1099-INT because of interest is less than $10, will IRS know it?

[manbeing]

I am just curious. My bank doesn't issue me the 1099-INT form as the interest I earned was less than $10 in 2021. Will IRS still know I earn these interests?

[bluedeb · Accepted solution]

The IRS gets all information about interest.  Technically, there is no minimum reportable income: any interest you earn must be reported on your income tax return. So, even if you don’t receive a Form 1099-INT, you are still legally required to report all interest on your taxes. Any amount of tax-exempt  interest still needs to be reported on your income tax return because it could impact your tax return.