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>> Since you know the amount of interest earned, enter it on line 8a of your 1040 (or Schedule B, if required) and be done with it. You don't need a 1099. <<

This is true, but shouldn't they have received a 1099 for the interest on the CD, seeing it was over $10?


Not necessarily. The missing piece of information is the term of the CD. Interest on short-term CDs (I think 9 months or less, but I haven't looked it up) is only reportable at maturity. Interest on longer-term CDs is reportable annually.

Another possible explanation is that many 1099-INTs will be issued late this year. Many payers have received 30 day extensions due to changes in the law which now require them to report tax-exempt interest on the 1099-DIV. All the computer systems have to be updated and tested.

Ira
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