The Association heard from a representative at the Department of Revenue that an error has been discovered on 2017 Form 1099-INTs mailed the week of January 22, 2018.
In the Recipient’s Identifying Number box, the oldest tax year in which interest was paid during the year is printed to the left of the identifying number (i.e. Social Security Number). For example, a taxpayer that received refunds from tax years 2015 and 2016 during calendar year 2017 will have “2015” printed in the Recipient’s Identifying Number box. Below is an example of how this will appear:
This information, although not incorrect, was printed on the form in error. The error does not affect how a taxpayer reports interest income to the Internal Revenue Service. The correct year for reporting the interest income is printed separately on the form as “2017,” as shown below. Taxpayers can disregard this piece of information on their form.