States have Billions in Lost Money -- Some of It Might Be Yours


It’s time for your annual “Trick or Treat” visit to the state Controller’s web site to look for bank accounts, investments, security deposits etc that you lost track of years ago. It is remarkably easy, and can actually be fun. In less than 10 minutes, I found at least 5 of my clients on the list!

All states have “unclaimed property” laws that require unclaimed property to be turned over to the state after a specified period (usually 7 years). The states then hold this money, indefinitely, until someone turns up with a valid claim. Most states offer searchable web sites to help reunite owners with their lost funds.

BadgeYour Mom, back in Canada, made you a cosigner on her bank accounts, “just in case...”  

Or, you like to do some internet gambling, which means you transfer money to an account with an offshore casino to fund your bets... 

Oh, oh! You may have to file an FBAR by June 30 or face ridiculous penalties.

FBAR is the report of Foreign Bank and Financial Accounts. 

Don't wait for Washington to fix things, you can stimulate your own economy, right now. 

The 10 days following Thanksgiving are promoted as “Buy Union” week to encourage union members to look for union-made goods and services when buying Holiday gifts and other items.  Supporting union-made products helps keep good jobs in the community and could have the added benefit of encouraging increased manufacturing at home.

A six-digit "Identity Protection Personal Identification Number" or IP PIN is being provided to those victims of tax-related identity theft who have had their identities verified by IRS to avoid delays in processing their federal returns.                                            

If you've received IRS Letter 4869CS providing you with an IP PIN, please send a copy of the letter to your tax preparer. He/she needs to enter your IP PIN on your tax return to avoid processing delays. 

Page 5 of 5

    Have a problem? I can help!

      I have the experience to get the job done for you!

      I'm located in Caledonia, NY, near Rochester,  but I have clients all over the country.

      Contact me at 585-204-7085, leave a voice message, or email This email address is being protected from spambots. You need JavaScript enabled to view it. 

 

      Want more information? Join one of my mailing lists.