Under the Bank Secrecy Act, U.S. residents - or a person in and doing business within the United States - must file a report with the U.S. Treasury if they have a financial account in a foreign county with an aggregate value exceeding $10,000 at any time during a calendar...
FBAR is an acronym standing for Report of Foreign Bank and Financial Reports. This report is due annually June 30th on all Taxpayers with offshore assets; it is a Report that Taxpayers must file in addition to disclosure on schedule B of their 1040s. There are extremely harsh...
The IRS is a familiar name in every American household because they are the people who we pay our taxes to, and those who will track us down if we don’t do it on time. But, that is just about as far as our knowledge goes. Just in case you need to know a little bit more about...
Just because this year’s tax season is over, it doesn't mean that you’re off the hook forever. 2014 taxes will be due next year, and it’s important to stay on top of your money so you can keep track of how much you owe or how much you’re due. Here are a few tips to stay...
If you have a history of bad credit habits, fixing your credit can be tough, but it is possible. Here are some ways that you can improve your credit and get back to not worrying about your standing with the credit company. Pay On Time Paying credit card bills on time is easier...
The tax season is a stressful enough time without the threat of identity theft. But, sadly, that is a worry we need to take into account during the tax season. Although identity theft can seem pretty ominous, there are a few key things you can do to avoid it altogether. What...
What is the purpose of services such as TurboTax if not to procrastinate filing your taxes until the absolute last minute? Well, they also exist for you to be able to optimize your filing time in order to get them in ahead of the crowds. The sooner you file your taxes, the more...
Did you know that the Health Care Reform could affect your taxes? Here are some ways in which your taxes will be affected by the health care reform, especially if you do not have health care. Health Insurance Available to All Under previous legislation, not only was health...
When it comes down to it, taxes have been given a pretty dry reputation, but in reality, their past is pretty interesting. Over the years there have been some pretty crazy taxes, and here are some of the highlights: The Naked Tax—wait… what? That’s right, in Utah there is a...
Some things in life are simple. However, taxes don’t tend to fall into this category. Tax law is a complicated and difficult jungle of information, which can easily confuse you when you are getting ready to submit your taxes for the new year. Thankfully, there are several...