Investing and Financial Markets
Banking
Income Taxes
Banks and Financial Institutions

How does the US government tax savings account interest rates?

User Avatar
Wiki User
2008-10-03 22:32:19

It is taxed as income, just like salary. Pretty bad incentive

for people to save. It is way higher than capital gains and

dividends.


Copyright © 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.