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Are deposits to a prepaid debit card such as net spend or rush card reported to the IRS at all. Regardless of the size of deposit?
Wiki User
∙ 11y ago
Accoding to one Prepaid Debit Card Company I checked with They say no. I however am skeptical, It's the IRS we are talking about. IF there is a money trail and they want it I'm sure they can access it. Beware.
Wiki User
∙ 11y ago
Yes, deposits to prepaid debit cards like NetSpend or RushCard may be reported to the IRS if they meet certain criteria. The IRS requires financial institutions to report transactions over a certain threshold to prevent money laundering and tax evasion. It's important to keep accurate records of all deposits and transactions for tax purposes.
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Where can someone go to find a pre paid lawyer?
You can find prepaid legal services by searching online for providers like LegalShield or Rocket Lawyer. These services typically offer prepaid plans that give you access to a network of attorneys for phone consultations, legal advice, and document review. You can also check with local law firms to see if they offer prepaid legal services.
What is the meaning prepaid shipment?
Prepaid shipment refers to a shipping arrangement where the shipper (usually the seller) pays for the shipping costs upfront. This means that the recipient (buyer) does not need to pay for shipping upon receiving the package. It simplifies the delivery process for the recipient and ensures that the shipment is paid for prior to dispatch.
How do you buy a jockstrap without my parents knowing?
first thing you do is get a pre paid visa card this is something you can buy at any age and it looks just like a credit card you can buy it at stores like wallgreens and wallmart and it works the same way to the only difference is its pre paid. you put as much money as you need on the card then you go to the website that sells the object and type in the number on your pre paid card and the street name and number of a friend you can trust that way the package will get sent to your friend and there will be no bill because its prepaid so your parents will not find out. however there are 3 things that you will have to keep in mind or else you will get caught!!! 1. It does not matter to much if the person you are sending it to is cool with having the package sent to them. however you MUST make sure the parents could care less or you know for a fact they will never find out. if you have any doubts that the parents will find out or will say no then its best to not ask or have it sent to them at all because then they probably will say no or call your parents and tell them. 2. Make sure that your trusted friend gives you the package in a location AWAY from both your parents. 3. Always keep the object hidden in the best place possible if its hidden under your bed, under your pillow or in your closet then pick a better spot cause sooner or later you will get caught. good luck.
Are prepaid legal expenses reported on the 1099?
Yes. Regardless if they are prepaid, the relevant fact is that you paid. All cash payments to a 1099-able vendor in a given year are to be reported on a 1099.
What is difference between prepaid expenses and deposits?
There isn't much of a difference between a prepaid expense and a deposit. Both terms are monies that are paid in advance to pay for something. With a prepaid expense, the money pays usually for a bill or utility. A deposit on the other hand, is sometimes given back after the obligation is paid. If it is not paid, the deposit is kept as payment.
Substantive procedures to audit prepaid deposits?
See the reason for deposit. Then how Deposit was created and check relevant agreement/support that the deposit is long-term or short term... Be Alert for Related Party Transaction.
Prepaid insurance is reported on the balance sheet as a?
Prepaid insurance is reported on the balance sheet as a
Can you get a payday loan with a insight prepaid direct deposit card?
can. you get a heyday loan with a insight prepaid direct deposit card?
What is the journal entry of rent received in advance?
Debit Cash for the cash received, and credit a liability account you can call Prepaid Rent or Prepaid Deposits. Basically, you credit a liability account because you "owe" them the rent for the month they have paid for in advance. Once the month has passed, you can debit the Prepaid Rent and credit Rental Income. Or, if the prepaid rent is a deposit made, you just keep it on your books as a liability until the end of their lease, at which time they will either be refunded the deposit (debit Prepaid Rent, credit Cash) or if they don't pay their last month's rent you can use the deposit (debit Prepaid Rent, credit Rental Income).
Prepaid advertising would be reported on the balance sheet as a?
An asset
What time does direct deposit go through for outback steakhouse employees?
What time does outback steakhouse get paid for direct deposit from brinks prepaid Mastercard
What is prepaid rent?
Prepaid rent is when you pay your rent ahead for a length of time, either as a deposit or as regular rent. Sometimes you can get a discount based on how much rent you pay ahead.
When are prepaid expenses are reported on the income statement as expenses?
Prepaid expenses do not go on the income statement as they are classified as assets. They are amortized over the time period being paid for.Example: If you prepaid $600 dollars for 6 months rent. Then $100 dollars would be expensed each month and the remaining amount is reported on the the balance sheet.
What is the service fee on a prepaid MasterCard?
Prepaid cards are not credit cards; they are debit cards that have a total limit based on your total deposit. The amount of money on your card reduces as you spend until you are out of money. You can choose to direct deposit each paycheck to a prepaid card or add money from your bank account as needed. Compare this with other credit card offers to see your best option!
What are some of the most popular kinds of ATandT brand prepaid phones?
The most popular AT&T brand prepaid phone models are the Z431, Z221 and Fusion 2. With a prepaid phone, there is no contract, credit check and no deposit. You can also choose to pay by the month, day or minute.
