I have a very small interest amount from a bank, less than $3.00. I had not received a form 1099, and when I contacted the bank, they informed me that they do not report interest income less than $10.00, but they did confirm that the small amount I quoted to them was correct.

My question(s):
Is it an IRS regulation that small interest payments like this (<$10) do not have to be reported on taxpayer returns?
Since the bank is not sending a form 1099 to anyone, should I just let sleeping dogs lie and not add it to my tax return? My concern is not in paying the tax, it has more to do with the IRS computers getting confused because I report the income that is not matched by a 1099 in their system, but normally would be. I'm inclined to just go ahead and report it, overall.

Any advice?