WORD OF THE DAY: CONCENTRATION ACCOUNT - A cash management tool involving a single account established by an entity, usually in conjunction with one or more zero balance disbursement accounts. At times, the concentration account is referred ... More
Glossary Term: INTEREST INCOME STATEMENT (1099INT)
Definition(s) for INTEREST INCOME STATEMENT (1099INT):
1. ) A paper information return showing the amount of reportable interest paid to a taxpayer Typically, the return shows the total amount of such interest paid to that taxpayer in a year This return has to be mailed to the taxpayer no later than the end of January following the tax year in which the payment of interest to the taxpayer occurred The statement may include interest on accrual (EE/I/E) or current income (HH/H) savings bonds
Fund Letters
