If you receive a Form 1099-INT for interest income on deposits that were frozen at the end of 2014, see Frozen deposits under How To Report Interest Income in chapter 1 of Publication 550, for information about reporting this interest income exclusion on your tax return.
What are the most income tax-friendly states for retirees? That would be the seven states â Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming â that donât tax personal income; and the two states â New Hampshire and Tennessee â that collect income tax only on interest and dividend income.
Taxpayers in the most tax-expensive states, for instance, pay three times more than those in the cheapest states to meet their civic burden. As this yearâs tax-filing deadline, April 18, looms closer, itâs fair to wonder which states have the most and least burdensome tax rates. WalletHubâs analysts searched for answers by comparing state and local tax rates in the 50 states and the District of Columbia against national medians.