But there are many other types of income that have to be reported on your annual tax return, including interest earned on a savings account balance or on a bond. Offers a high-quality user ...

Before diving into an explanation of how interest income from your savings account is taxed, it’s good to know the difference between a regular savings account and a high-yield savings or high ...

The exact amount you owe will depend on your federal income tax bracket. You may have to pay taxes to your state as well. It's a bad idea to ignore your savings account interest when you file your ...