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Do I Get Taxed on a High-Yield Savings Account?

The Wall Street JournalMonday, March 10, 2025 at 6:17:00 PM
NeutralU.S News
Do I Get Taxed on a High-Yield Savings Account?
If you're stashing cash in a high-yield savings account, don't forget the IRS wants a cut too. The interest you earn isn't just free money—it gets taxed like your regular income, so you'll report it when filing your taxes.
Editor’s Note: A lot of people jump into high-yield accounts for the better rates but don’t realize the tax implications. This is a friendly reminder that nothing’s truly "free" when it comes to earnings—even if it’s just sitting in your savings. Good to know before tax season sneaks up on you.
— Curated by the World Pulse Now AI Editorial System
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