Can Credit Card Companies See Your Tax Returns

Can Credit Card Companies See Your Tax Returns The TOP is the only way your refund can be garnished private creditors such as credit card companies don t have access to your tax refund Moreover only certain types of government debts are eligible for TOP

They won t actually call your employer or ask for paystubs tax returns to verify your income unless they explicitly say so Not so fast though you can t fool the credit card issuers by putting in some astronomical number on your application Like collection agencies private creditors credit card companies hospitals etc are not legally permitted to garnish your tax refund Once your tax refund hits your bank account however the money is fair game for a bank account levy

Can Credit Card Companies See Your Tax Returns

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Technically TOP is the only way your refund can be garnished and since it only applies to federal agencies private creditors cannot access your tax refund as a means of wage garnishment Additionally only certain kinds of government debts The creditor could take your tax refund if it was deposited in your bank account and it knew your banking information and got an order to seize it while it was still there If the creditor has not asked you for your banking information yet

I would not give any card company permission to access my tax returns through the IRS via equifax That s ridiculous and quite differnt from asking for POI and they might even stay connected to it all the time You can not submit your own tax return to them they need to get your copy from the IRS Sometimes banks like Chase and Amex may allow you to provide additional proof of income on top of the tax return they receive from the IRS

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Does the IRS check your credit cards The Internal Revenue Service plans to beef up its tracking of credit and debit card purchases of merchandise to spot discrepancies with the income claimed on tax returns Form 1099 K reports payments from payment apps or online marketplaces and from credit debit or stored value cards Use it to help figure and report your correct income on your tax return

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The TOP is the only way your refund can be garnished private creditors such as credit card companies don t have access to your tax refund Moreover only certain types of government debts are eligible for TOP

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They won t actually call your employer or ask for paystubs tax returns to verify your income unless they explicitly say so Not so fast though you can t fool the credit card issuers by putting in some astronomical number on your application


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Can Credit Card Companies See Your Tax Returns - Technically TOP is the only way your refund can be garnished and since it only applies to federal agencies private creditors cannot access your tax refund as a means of wage garnishment Additionally only certain kinds of government debts