I noticed a potential "loophole" in interest income this year. If it's less than $10 from a single institution, you don't need to report it. In fact, they will not even issue a 1099. I called my bank and they confirmed that I don't need to do anything.

So, in theory, you could have 100 bank accounts each with $9.99 interest and not pay any taxes.

But then again, maybe having 100 bank accounts would automatically trigger an audit.