bank account without your knowledge when they recieve your form return and before being suspect for an audit?
2007-03-24 02:58:03 · 7 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
No, They cannot check your bank account without your knowledge. If you are to be audited, a form will be sent to you asking that you sign a disclosure for that will then be submitted to your bank. By law the bank cannot release that information without your written approval.
However, if you do not approve, and the IRS wants the information in order to audit your tax return, they can legally get it by getting a subpeona signed by a judge.
2007-03-24 04:13:42 · answer #1 · answered by Kevin T 2 · 0⤊ 1⤋
If your tax issues are such that the IRS would check your bank account, there is something more going on than some small questions.
Due to the 'War on Terror', any government agency can check on any citizen without much ado these days. And anything can be labeled under National Security.....
http://www.irs.gov/foia/article/0,,id=132340,00.html
good luck
2007-03-24 11:25:15 · answer #2 · answered by Wood Smoke ~ Free2Bme! 6 · 1⤊ 0⤋
Yes. The bank has already sent them all the tax information they need from your accounts in the form of 1099 and/or various other documents.
2007-03-24 10:01:21 · answer #3 · answered by Bad Kitty! 7 · 0⤊ 0⤋
no...and yes..if you've moved amounts 5grand or more in and out of that account..than the bank has to send out a form
If your just filing a return no.
2007-03-24 10:07:55 · answer #4 · answered by E 1 · 0⤊ 0⤋
they have the power to do anything they want with money, if you have money in the bank and it is over 10k the banks have the option to report it if they suspect something is wrong or illegal
2007-03-24 10:01:41 · answer #5 · answered by Anonymous · 0⤊ 0⤋
They can. Unless they have reason to suspect that something is fishy, they wouldn't.
2007-03-24 10:34:55 · answer #6 · answered by Judy 7 · 1⤊ 1⤋
Yes.
If they have any suspicion they can do just about anything they want to.
2007-03-24 10:18:15 · answer #7 · answered by Jeff 3 · 0⤊ 0⤋