Author Topic: Missing IRS 1099-INT?  (Read 648 times)

BlueMR2

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Missing IRS 1099-INT?
« on: February 22, 2023, 06:12:52 AM »
Due to the exceptionally long delay in tax processing last year (it took 9 months for our return to be processed), our refund had interest on it which I know is taxable.  Other people I know that this also happened to have received a 1099-INT from the IRS in the middle of January.  Here we are now end of February and I still do not have one.  At this point I'm guessing it got lost in the mail someplace.  I've been surfing the IRS.gov website and while they seem to offer a lot of services it's not clear how to contact them about this issue.  Has anyone been through this and have tips on the best way to contact them?  Worst case scenario, I DO know what the amount of interest is and the check date, so I can just use that information.  Ideally though I'd really like to have the actual 1099-INT...

yachi

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Re: Missing IRS 1099-INT?
« Reply #1 on: February 22, 2023, 08:34:21 AM »
Just chiming in to say I think it's stupid that the interest is taxable.  If it weren't for the fact that the IRS had your money for too long, there are lots of things you could have done with it that would not have been taxable: earlier IRA contributions, increased 401(k) contributions, paying extra on your mortgage, buying government bonds, paying off a loan.

It's nice that the IRS acknowledges the time-value of money and includes an interest payment for delayed refunds, but to the extend that interest is accounting for inflation, even stocking up on canned goods would have provided you with inflation protection in an untaxable interest way.

Boll weevil

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Re: Missing IRS 1099-INT?
« Reply #2 on: February 22, 2023, 09:55:00 AM »
Did the interest exceed the minimum amount for which a 1099-INT must be issued?

secondcor521

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Re: Missing IRS 1099-INT?
« Reply #3 on: February 22, 2023, 11:55:23 AM »
You may be able to log into your IRS account and look at your transcripts for 2022.  It may list the interest payment as a separate line item - I can't recall offhand.

If it helps, I received an interest payment from the IRS and the 1099-INT that I received matched the expected amount to the penny.  If you know your actual refund amount and the amount the IRS paid you, the difference is the interest.

You should be able to just list it as Internal Revenue Service, and the dollar amount of the refund.  Their federal ID is 38-1798424 if you need that.

BlueMR2

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Re: Missing IRS 1099-INT?
« Reply #4 on: February 23, 2023, 07:33:55 AM »
Did the interest exceed the minimum amount for which a 1099-INT must be issued?

Yep, it's over the minimum amount.

BlueMR2

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Re: Missing IRS 1099-INT?
« Reply #5 on: February 23, 2023, 07:38:57 AM »
You may be able to log into your IRS account and look at your transcripts for 2022.  It may list the interest payment as a separate line item - I can't recall offhand.

If it helps, I received an interest payment from the IRS and the 1099-INT that I received matched the expected amount to the penny.  If you know your actual refund amount and the amount the IRS paid you, the difference is the interest.

You should be able to just list it as Internal Revenue Service, and the dollar amount of the refund.  Their federal ID is 38-1798424 if you need that.

The check they issued had the interest amount listed separately and the math all worked out so I am confident in the amount.  Thank you for the ID, I think I'll start printing out all the forms and going through them this weekend.  Still short another document that I don't expect until first week of March, but there's a lot I can do without that one.