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Thomas County Board of Education Payroll Information Special points of interest: Substitutes.... Pay periods run from the 16th to the 15th Example: If you work January 8th through the 15th it will
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What is interest?
Interest is the extra money paid by a borrower to a lender as a fee for using the borrowed money.
Who is required to file interest?
Individuals or businesses who have earned interest income are required to report it on their tax return.
How to fill out interest?
Interest income can be reported on the appropriate tax form provided by the tax authority, typically Form 1099-INT for individuals.
What is the purpose of interest?
The purpose of interest is to compensate the lender for the opportunity cost of lending money and to incentivize saving and investing.
What information must be reported on interest?
Information such as the amount of interest earned, the name of the payer, and any taxes withheld must be reported on interest.
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