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Will the IRS require back taxes on the funds in a personal checking account If I have not filed for taxes?
Wiki User
∙ 15y ago
Dear Taxpayer, I'll try to answer your question based on what I understand it to be although the phrasing is somewhat vague. If you have a bank account that pays interest, (as many banks have) then you have interest income that will need to be reported on your tax return whether you are filing for the current year or for past years. A bank reports interest income on form 1099-INT, one copy goes to you and the other to the IRS. If you don't have a copy of the 1099-INT for the year in question then you can contact the bank and request one for your records. If the bank is either closed or non-responsive, I'd suggest that you contact the IRS and request a copy of your wage and income transcript for that year. Within 30 days you'll receive a copy of your income information for the year in question. If your account is not an interest-bearing account then you don't pay "additional" taxes on the monies. If you received these funds from your employment, then it gets reported to the IRS on your W2, if its from Self-Employment, then it gets reported on a 1099 or from self-reporting. Regardless of whether you keep the money on a bank account or under your mattress you pay taxes when you get paid, if you then put the money on the bank, you'd only be taxed on the interest received. Should you have additional questions make sure to consult a tax professional. Good luck. www.irs101.blogspot.com
Wiki User
∙ 15y ago
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Has anyone received their tax rebate early than it was scheduled?
Yes!! if you filed your taxes and will be receiving a refund via your checking account you will receive your stimulus check early...I did.
How far back can the state of arizonado a personal audit?
If you filed an original return, 3 years from the date it was filed and assessed.
How many personal Federal tax returns filed in 2009?
90 million?
I filed a police report for identety theft but it doesn't state the company name where the account was opened. can the police add the name on the report after is bein filed?
yes, they can write a supplemental report to the original
How can you correct a return already filed?
The IRS has a web page that explains exactly what to do. Different tax forms require different amendment forms. If you are talking about a state tax filed, go to the state website.
Can a bank collect on an old checking account if the customer has filed bankrusptsy?
Was that debt including in bankruptcy.
If you just filed for bankruptcy and are on Chex systems and can not get an account how long do you need to wait before you can open a new checking account?
It will probably be two or three years before you are able to open up a checking account. Bankruptcy severely effects your credit.
Is there a bank that will let you open checking account after you have filed bankruptcy you filed July 2009 and it was discharged June 2010?
Woodforest Bank found in Wal-Mart is a "second chance" bank. They do no credit checks.
Has anyone received their tax rebate early than it was scheduled?
Yes!! if you filed your taxes and will be receiving a refund via your checking account you will receive your stimulus check early...I did.
How does an attorney get a checking account number without being told you have an account anywhere?
There are many methods, the simplest of which would be sending a query to all banks within a given radius and if they find your bank, then the writ of execution gets filed. Further, if you ever paid the debt with a personal check, then they already have your banking information. Lastly, you can be served with interrogatories or summoned to court for a debtor's exam where you will be required to give them all of your financial information.
How can you find out if a will was filed for someone who died in the year 2000?
You should start by checking in the court of jurisdiction in the state where the decedent last lived to see if a will was filed.
You want to remove yourself as an executor?
You are not an executor until you have filed the will for probate and been appointed by the court. You may resign by filing a resignation with the court. The court will require that you file an account and will appoint a successor.
Can collection agencies garnish a pension in Pa that is direct deposite in a checking account if the pension is paid by PGBC a government program?
A collection agency can only garnish pensions in PA that is directed deposited in a checking about if the pension is paid by PGBC, a government program if the debtor has not filed an exemption. Typically, the debtor has 10 to 21 to file an exemption.
How far back can the state of arizonado a personal audit?
If you filed an original return, 3 years from the date it was filed and assessed.
What if your father passed away and you are the executor of his estate He has a checking account and the bank will not give you any information on it Can they hold any info from you?
If you have officially filed the will for probate you should have received a document called letters testamentary from the court soon after you filed. Present that document to the bank and if they still won't issue a check, get a probate attorney. tiekh@yahoo.com Probate Researcher
How do you change the account number for your taxes?
After the income tax return has been filed you can NOT change any of the account numbers.
Can a bank account stay frozen after a chapter 7 is filed.?
Not only can, but must be.
