What is "Description" in box 8 of Form 1099-OID?

Is savings bond interest taxable? The interest that your savings bonds earn is subject to. federal income tax, but not state or local income tax; any federal ... ... tax filing purposes. Residents should then exclude income Arizona law does not tax, which includes: interest from U.S. government obligations;; Social ... Feb 26, 2020 ... B. While it is clear that interest from. United States obligations is not taxable by Rhode Island, there are many. Jun 14, 2022 ... Taxable interest is taxed as ordinary income. Is there dividend income? If yes, is it mostly qualified, or is it a lot of ordinary dividends? Penalty & Interest. Penalty and interest is charged on all late and unpaid income and withholding tax, late or non-filing of an income tax return, landlord ... ... tax benefits for education? The tax benefits can be used to get back some of the money you spend on tuition or loan interest or to maximize your college savings ... As a general rule, interest received by or credited to the taxpayer constitutes gross income and is fully taxable. Mar 18, 2025 ... If it is not paid on or before that date, interest and penalty charges would accrue. Sales tax can also be paid prior to registration and/or ... Mar 4, 2025 ... Interest from savings accounts, CDs, and bonds. All interest earned in a deposit account is taxable and must be reported as income on your ... Interest is based on the amount that should have been remitted on time. Penalty for nonpayment or late payment of tax. 15% of the tax due or $50, whichever ...