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Box 2 - Other Periodic Interest - The instructions for form 1099-OID state that if the obligation was held the entire year, the amount in box 2 should be reported as Future Developments. For the latest information about developments related to Forms 1099-INT and 1099-OID and their instructions, such as legislation enacted 1099-OID fraud consists in filing Form 1099-OID with a false withholding information to reduce taxable income. Promoters of the fraud allege that the withheld amount exists in a secret bank account, a claim that originates from the redemption movement. If you receive a 1099-INT, the tax form that reports most payments of interest income, you may or may not have to pay income tax on the interest it reports. 22 Oct 2004 Instructions for Forms. 1099-INT and 1099-OID. Interest Income and Original Issue Discount. Department of the Treasury. Internal Revenue About Form 1099-OID, Original Issue Discount. if the original issue discount (OID) includible in gross income is at least $10, or. from whom you withheld (and did not refund) any federal income tax under the backup withholding rules even if the amount of the OID is less than $10. 28 Jun 2018 Form 1099-INT is a tax record of interest earned. Internal Revenue Service: Instructions for Forms 1099-INT and 1099-OID · Internal Revenue 5 Mar 2018 Form 1099-OID is used to report original issue discount (OID) and certain 550 - Investment Income and Expenses for reporting instructions. Learn more about original issue discounts on Form 1099-OID and get tax answers at H&R Block. 20 Nov 2018 File Form 1099-INT, Interest Income, for each person: To whom you paid amounts reportable in boxes 1, 3, and 8 of at least $10 (or at least $600 of interest paid in the course of your trade or business described in the instructions for Box 1. For whom you withheld and paid any foreign tax on interest; or.