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.
One of the most interesting tax facts to note is that some states donât have any income tax whatsoever. And that fact might leave you shaking your head and asking why. Weâre here to help you answer that question; in fact, there are seven states that currently donât have income tax. 1  Alaska. 2  Florida. 3  Nevada. 4  South Dakota. 5  Texas. 6  Washington. 7  Wyoming.