An OID also known as original issue discount is a debt instrument with a lower value compared to the time it was bought. The investor receives the face value after maturity with interest...
Although it may seem little, the interest you earn during the year is not tax-free. The interest is subject to the same tax rates as the rest of the income.Sources of interest income...
Form 1040 is one of the official documents required by IRS and used by taxpayers in filing for the year’s income tax return and is also considered to be the most complex among...