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
Was that debt including in bankruptcy.
It will probably be two or three years before you are able to open up a checking account. Bankruptcy severely effects your credit.
My husband had co-signed for a car for his daughter over 7 years ago before I even ment him and the car was reposesed for non payment. The loan company came after my husband and a judgment was filed against him. Although he did not have his own checking account, we have a joint account. (I put him on my account after we married). Unbenounced to me, they went into my checking account seized it and took every penny I had. So yes..this does happen. Be carefull about who you have a joint checking account with, because It happend to me!
Woodforest Bank found in Wal-Mart is a "second chance" bank. They do no credit checks.
My bankruptcy went through in September of 05 and as of yet I still have not been able to open an account. The bank that I was at stated that I had to pay off the remaining balance even after I filed and it was discharged. So far I have tried second chance banking on the internet but it offers no checks and can only keep maybe 10,000 dollars in your account. I heard Well Fargo bank has opportunity checking. I am going to try there.
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.
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.
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.
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.
If you filed an original return, 3 years from the date it was filed and assessed.
After the income tax return has been filed you can NOT change any of the account numbers.
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.
Yes. I filed for that reason alone. I signed a lease for a business. I was told I had to sign a personal guarantee. I had to file a personal BK because of it. When I left the lease they tried to sue the business....but the business had nothing, so they came after me because I signed a personal guarantee. I filed a Bankruptcy and it was discharged.
A checking account has nothing to do with a bankruptcy unless the bank you are going to deal with does a credit check on you and uses this information to Approve/Disapprove you based on that info. If you are turned down by a bank try another, some bank in your area will give you a Checking Account I'm sure. Good luck getting a checking account. I filed chapter 7 and was discharged over a year ago and NO ONE in the area will give me a checking account. I have to get my paycheck cashed to pay bills. The above person can't get a checking account probably because when they filed for bankruptcy, they included some current bank account they had. When you do this, the bank will place an inquiry on Check Systems and that is what banks used to determine if they will grant you a bank account at their branch. I understand your problem entirely. Refer to the above comment about ChexSystems. Keep in mind that not all banks use ChexSystems, there are still 20% of banks that use some other system or no verification system. If you have been legitimately reported to ChexSystems for owing a bank money, there is no way to remove it unless you can get the bank that added the report to request the removal. You can however, get a note placed on the account if you have paid the debt in full - this will not ensure that you can open a checking account, but it does improve your chances with a bank that has the option of overriding a ChexSystems report. Easiest way out, check with your local credit unions and smaller banks. Odds are one of them either doesn't use ChexSystems or they will open an account even with negatives on that system. ; I just came out of Chapter 7 and could not open an account as long as you included the bank in your bankruptcy and have your discharge papers along with the line item showing they were included into the bankruptcy you can open another account. Just order a chexsystem report then dispute the item as paid and request it to be updated/removed you then will be able to open another account within 30 days. If they dont show a 0 balance you can sue them under the bankruptcy law. but you wont have a problem as i was able to open account 15 days after my dispute.
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. email@example.com Probate Researcher
Not only can, but must be.
When the final account has been filed with the court and allowed.
no because you have no money idiot
Many banks will work out a equiable arrangement, unless they were one of the creditors in the BK. Which usually doesn't happen because they generally use their "set off" options. You can open an account at Wal Mart for as little as $25. There are several online banks, I'd be VERY careful about them, however.
Each is seperate...but each may be filed.
Yes, if the bank holding the account allows it. When a person files for bankruptcy, depending on the type of bankruptcy you filed.
The lien is probably still in place, and the fact that it was filed is still on your credit file.