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.
The Bahamas are the closest tax haven to the United States. As far as tax havens go, the Bahamas are one of the largest in land area. With over 700 islands and cays (pronounced key) totaling 5,400 square miles, only Panama, Vanuatu and Switzerland are bigger.