Hello, I want to open an account with charles schwab. How do I go about alerting the IRS? I am sure I can go through google but I feel comfortable asking here.
Thank you,
Victor.
That’s so compliant of you!
Basically there’s nothing special you need to do right away. When you open the account, Schwab will ask for your social security number. At the end of the year Schwab will give you one or more tax forms (like a 1099-INT showing how much money your account made). You enter that form with your taxes and settle up with the IRS then 