How do I pay for interest tax?
Hi All, I'm totally new to taxes. I'm looking to get a Certificate of Deposit so I get good interest rates after a year. So the interest get taxed. My question is how, I mean the step by step.
If I opened the CD today with 1 year maturity, here are my questions please.
1. When do I pay the interest tax? In filing season or when it matures Oct 2019?
2. How do I pay the tax? I mean like the exact steps.
Thanks in advance!