Would you have to pay taxes if you didnt make any income for the year, but had money in the bank?

Yes but only the interest you earn is taxed. For example lets say you win the lottery and in a year that money makes $50 000 interest. You pay the same tax as if you worked a job and made $50 000 in a year. Most people in this situation pay their taxes four times over the course of the year just so they don't have to pay it all at once in April. Anybody who doesn't get their taxes automatically taken out of their check usually does this

There is no tax for just having money in your account.

If the bank pays you interest on the money, then you would have to pay tax on the interest.

If the bank does not pay you interest on the money, then you would not have to pay tax.

Either way, it's pretty dumb to keep $147 million in a bank account instead of investing in something better.

There would be taxes on the interest paid in a normal bank account. It would be foolish to keep the entire amount at one bank, of course, because if that bank failed, all the money could be gone except a few hundred thousand of the federally-insured limit. They might want to invest the money in municipal bonds, actually, which may pay tax-free interest if done right.

if you won the lottery and are now living off the winnings you probably paid your income taxes when you won

but if you put some of that money in the bank and it is earning interest, or you invested and it earned more for you, that is taxable and yes, you file a tax return to report it

With that kind of money, you'd get enough interest that you'd owe tax. If you had a few thousand dollars in the bank and the interest was your only income, it wouldn't be enough to owe anything.

The interest you made is taxable. And $147 million would make ALOT of interest.

Pay taxes on the interest from your savings.

Interest is considered taxable income.

only if you're collecting interest, not on the amount in the bank.