When I went in to open my checkings account at Bank of America, a savings account was opened too.
Im not sure, I did keep money in it and I received my “Combineds tax statement for year 2008″ for 65 dollars.
What do I do I called those guys and they said they dont know
You do not pay taxes on money that’s in your account – you pay taxes on any interest the money earned. You would have received a 1099-INT form from your bank.
bank accounts are not taxed money and unless you have over 5,000 dollars they don’t even look at you and youre exempt from reporting like the first 4,000 or so dollars and you being a student and not working you dont have to worry about the irs
This site has some helpful info on who has to pay taxes. I hope this info helps!http://www.efile.com/tax-news/do-i-need-…