Form 1099-INT is the IRS income tax form used by taxpayers to report interest income received.
Interest paying entities must issue Form 1099-INT to investors at the end of the year and include a breakdown of all types of interest income and associated expenses.
Brokerage firms, banks, mutual funds, and other financial institutions must file Form 1099-INT for interest greater than $10 paid during the year.
Types of interest income for which Form 1099-INT is issued include interest on deposit accounts, dividends, and amounts paid to the holder of a secured debt obligation.
Forms must be sent to recipients no later than January 31st.
Form 706 is used by the executor of a deceased person to calculate inheritance tax owed under Chapter 11 of the Internal Revenue Code (IRC) and to calculate Generation Pass Transfer Tax (GSTT) under Chapter 13 of the IRC. .
Employees fill out Form W-4 to tell employers how much tax to withhold from their paycheck based on the employee’s marital status, number of benefits and dependents, etc.
Form 1095-B: Health insurance contains health insurance information for taxpayers, their spouses, and dependents if they are enrolled through an insurance company.
Form 1099-R is used to report distributions of annuities, income distribution plans, retirement plans, retirement accounts, insurance contracts, or pensions.
Form 2439 is an IRS form that regulated investment companies (RICs)—mutual funds and exchange-traded funds—and real estate investment trusts (REITs) are required to circulate to shareholders to report unallocated long-term capital gains.
IRS Form 8396: Interest Mortgage Loan is filed by homeowners to obtain a mortgage interest-bearing loan, but this can only be done by those who have received a Mortgage Loan Certificate from a local or state government agency.
Publication 525, Taxable and Non-Taxable Income, is a document published by the Internal Revenue Service (IRS) that details what types of income taxpayers should consider taxable or non-taxable when filing tax returns.