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Posted

I have just filed the tax return. However, I didn't receive any tax forms from my bank and so the tax refund doesnot include any interest earned via bank. I don't know why my bank didn't send me any such forms.. Maybe its because that I have just opened my savings account (late 2008) and that the interest is less than a $.

I am curious to know if IRS will get back to me as trying to hide some income and penalize me.

Posted

Did you ask your bank why they didn't send you a form? I have sometimes had to browbeat banks repeatedly in order to get the necessary tax forms from them.

Posted

Interest income on savings accounts has to cross a certain threshold before you have to worry about it being taxed. I don't recall exactly what that number is, but at the 0.000000001% interest rate my bank gives me, I've never seen it.

Posted

What is the minimum taxable annual income? Say I join a program in August. My stipend is $1500 per month. I'll get 4 full months and half a month of stipends, so that will be a total of about $6750 for the 2009 calendar year. Would I be required to pay taxes on this? (I'm an international student and I'd be getting paid in Atlanta, Georgia).

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