Especially meaningful savings with taxable interest.
Yes, most people with more than a few hundred bucks in savings accounts will get a 1099-INT, but a lot of people just use checking accounts and if you're at a big bank like Chase even savings account interest is so low you still might be under the $10 threshold.
The average American's investments (if they have any at all) are in retirement accounts so they'd avoid those taxes too.
Yes, most people with more than a few hundred bucks in savings accounts will get a 1099-INT, but a lot of people just use checking accounts and if you're at a big bank like Chase even savings account interest is so low you still might be under the $10 threshold.
The average American's investments (if they have any at all) are in retirement accounts so they'd avoid those taxes too.