Does your bank offer a ‘benefit’ account?
Written By: Robert Zimmerman | H&R Advisory Service, LLC Regularly, we receive an offer of $100 or $150 in the mail by a bank as an incentive for us to open a ‘high yield’ savings account. The high yield could amount to an interest rate of around 1%. The offer does not mention that they will also send along a 1099 form every year at tax time. This informs the IRS of how much interest you received, so that they can participate. More and more,...
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