MANAGEMENT

Detailed explanation-1: -The Internal Revenue Service requires most payments of interest income to be reported on tax form 1099-INT by the person or entity that makes the payments. This is most commonly a bank, other financial institution or government agency.

Detailed explanation-2: -What is a 1099-INT tax form? A 1099-INT tax form is a record that someone-a bank or other entity-paid you interest. If you earned more than $10 in interest from a bank, brokerage or other financial institution, you’ll receive a 1099-INT.

Detailed explanation-3: -About Form 1099-INT, Interest Income.

Detailed explanation-4: -Forms are mailed by the end of January and should arrive by mid-February. If you’re enrolled in Online Banking and you meet the IRS guidelines, you can find your 1099-INT form by signing in to Online Banking, selecting your deposit account and then selecting the Statements & Documents tab.