Sorry for adding fuel to the fire, but since it was an issue for few years and Ally Bank failed to address it with TT and even more, at least in my case, 1099-INT from Ally are not mailed, how would I have known that I had more than one account to report?
Yes, by accident I have noticed the issue - in addition to the Savings I had with Ally for years, this year I had a CD for a brief time - which matured and I have even forgotten existed. Had I not visited Ally website to download 1099 for backup purposes and opened it as simply of curiosity, I would never notice the discrepancy. Had I not notice and correct, and say have gotten CP22 from IRS a few years later down the road, I wonder who would be responsible for penalties and interest?
I also wonder if Ally reports correct info to IRS as any discrepancies between what I get on paper vs. what electronically submitted as part of the script (which should have the same format as what we get as consumers imported to TT) ... so does IRS get the interest from my CD or only from the savings? I just don't like the ambiguities ... especially when dealing with IRS
