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Maine Alliance for Road Associations

Checking Accounts for Statuatory Road Associations

  • 06 Aug 2012 6:39 PM
    Message # 1040334
    Deleted user
    I need to open a checking account for our road association which is new and I'm the treasurer, when I open the account I'll have to use my social security number how will that affect my personal taxes?
    Last modified: 06 Aug 2012 6:42 PM | Deleted user
  • 07 Aug 2012 9:15 AM
    Reply # 1040969 on 1040334
    The only thing that gets reported to the IRS by the bank is interest so that should not be material.
  • 07 Aug 2012 10:15 AM
    Reply # 1041037 on 1040334
    Deleted user
    So if we open an interest bearing account it could pose a problem?

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