how does where you get your income taxed filled out do they know what banks you belong to.
2007-12-11 07:35:35 · 3 answers · asked by debbigeri 3 in Business & Finance ➔ Taxes ➔ United States
because the Banks have paperwork they have to legally submit to the IRS on accounts
2007-12-11 07:41:35 · answer #1 · answered by Anonymous · 2⤊ 1⤋
Your question is not too clear. If you are asking how your tax preparer knows what banks you use, the answer is that he asks you to show him one of your checks so he can get the routing transit number and your account number.
If you are asking how the IRS knows of any interest you received from the bank, the answer is that the bank submits a Form 1099INT to the IRS and also gives you a copy.
If you do not have a refund deposited into your bank and do not have the IRS draft your account, then the IRS would only become aware of your account if they were investigating your tax returns or were looking into your status if you were a non-filer.
2007-12-11 17:40:22 · answer #2 · answered by Anonymous · 1⤊ 0⤋
If you're having your refund deposited directly to your account you have to provide the bank and account details. The IRS doesn't have routine access to your banking information though they can get it if needed to enforce the tax laws.
2007-12-11 15:56:10 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 1⤋