IRS Interest
Do I report interest that the IRS paid me on the same form as bank savings interest? Also, do I include the IRS Payer's Fed. ID # on the form? Thanks
Do I report interest that the IRS paid me on the same form as bank savings interest? Also, do I include the IRS Payer's Fed. ID # on the form? Thanks
Yes you report the interest received from the IRS on the Form 1099-INT. Use the Federal EIN if reported to you on the IRS notice and enter the IRS for Received From and enter the amount of interest in box 1.
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