I've got multiple online bank accounts, so the way I see it, as long as you don't earn more than $10 in interest, the irs will never know about earning the interest. Am I correct about this? I know it won't amount to much, but it will probably amount to a few dollars that the irs won't get when tax time comes around. Anyone else do this or have any advice about doing this?


I would consider this an unacceptable risk/reward ratio even if I did not believe that it was also morally wrong. You may feel differently though and I am not judging you for doing this; I am just pointing out the possible pitfalls of this action.

Taxes are due on all interest and banks are NOT REQUIRED to send an interest statement if the interest is under $10. Interest is posted on line and or in your statement. YOU DO HAVE A RECORD.