Our next tax trivia question is:
Congress passed the Bank Secrecy Act (sometimes referred to as BSA or the Currency and Foreign Transactions Reporting Act), which included cash reporting requirements and FBAR (Report of Foreign Bank and Financial Accounts) rules, in 1970 as the first laws to fight which crime in the US?
For more about the giveaway, including rules and prizes, check out this post.
It’s the third day of my 12 Days of Charitable Giving for 2020. Readers have suggested deserving charities over the past few weeks, and I’ll be posting the results here. Today’s charity is James Storehouse. James Storehouse partners with local public and private child welfare agencies to fulfill emergency requests to expedite safe placement of…
Before I went to bed last night, I double-checked my alarm and then set another one. My son was at a sleepover and had a soccer game an hour away first thing in the morning. It’s a challenge at the best of times to coordinate schedules but especially today: Time sprung ahead in some parts…
Taxpayer asks: Hi Kelly, With all the publicity about UBS and foreign bank accounts, I have some concerns that a lot of parents may be sharing… I know you’re a mom too (though your kids are too young for you to have to worry about this right now!) But, if you were in my shoes,…
In 1970, Congress passed the Bank Secrecy Act which was pretty much the first law on the books in the US to require banks and other financial institutions to reveal personal financial information to the government. Yep, this was long before the Patriot Act and was originally meant to assist law enforcement agencies in the…
It’s the fifth day of our 12 Days of Charitable Giving! In December, I’ll be focusing on twelve charitable organizations which my readers have nominated as most deserving of your charitable donation. You have a couple more weeks to squeeze in you charitable deduction for tax purposes in 2014 – so why not consider one…
The IRS crackdown on foreign accounts has been generating a lot of discussion in the blogosphere. Some folks argue that it’s a waste of resources, others argue that it’s been a long time coming. Today’s Fix the Tax Code Friday question is: Is the targeting of offshore accounts a fair use of IRS resources? Or…
