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01. What is the 1099-G, 1099-MISC, or 1099-INT?

The Form 1099-G, 1099-MISC, or 1099-INT is a report of income tax refunds (or overpayments carried to another tax period), Maine Residents Property Tax and Rent Program refunds, or refunds from the Business Equipment Tax Reimbursement Program, and interest payments that you received from Maine Revenue Services (MRS) during the prior calendar year. The Internal Revenue Service (IRS) requires government agencies to report certain payments made during the year, because those payments may be considered taxable income for the recipients. Maine Revenue Services must report any income tax refund or overpayment credit amount as well as property tax refunds issued during the tax year to individuals who claimed itemized deductions on their income tax returns for the year. The IRS normally requires that refund and interest amounts be reported on separate forms: Form 1099-G (income tax and Maine Residents Property Tax and Rent refunds and interest amounts up to $600); Form 1099-INT (interest greater than $600); and 1099-MISC (Business Equipment Tax Reimbursement refunds). • If you did not itemize deductions in the prior tax year, you can disregard the form. • The 1099-G, 1099-MISC, or 1099-INT is not a bill. • The 1099-G, 1099-MISC, or 1099-INT shows amounts that were already refunded to you during the prior calendar year.