Unclaimed Property Blog

It isn’t the tax man cometh for thee, it is where you can request resolution on a tax issue.

You have a tax return audited and you don’t agree with the auditor’s findings - what do you do? Tax Court? No not yet. At this point you have the right to appeal the audit. The appeal is done and you still don’t agree with the results - what do you do? Tax Court? Yes! You can now take the matter to the U.S. Tax Court, a type of court that handles tax matters.

Have you ever decided not to purchase something on the internet because you were unsure about the site or had the feeling something might be wrong? Read on to find a source for that feeling.

The threat of identity theft is remote but real. With hackers, hijackers and spoofers out there waiting to steal your ID, password and financial information, a little caution is needed. This includes online and off.

When you’re paying bills, making investments, viewing your bank balance, checking your credit card statements, preparing your taxes and buying stuff online, are you taking a risk with your confidential financial information?

Are you aware that 55% of Americans do not have a will? It is one subject no one really wants to talk about since it does involve death and money.

However, ignoring this topic could one day leave these choices in the hands of the state to decide. Do you really want that?

First of all you have to accept the fact that there may never be a good time to talk about death, so don’t put if off.

If you have ever been taken in by the idea that your credit report could be improved for a price, you will be glad to know something is being done about it.

Government regulators are cracking down on companies that claim to remove negative information from consumer credit reports.

The Federal Trade Commission (FTC), along with the U.S. Postal Inspection Service and eight state law enforcement agencies, have identified 20 companies that promise to remove information from consumers’ credit reports for a fee.

These scammers keep on getting trickier and trickier. Read on for the most recent concept. It’s pretty ingenious.

Banks have begun putting a three-digit security number on the back of each credit card as an extra line of defense in an effort to foil thieves who steal credit card numbers. The tactic has proven to be effective. So thieves have been working to formulate new scams to trick consumers into voluntarily revealing that code, according to the New York State Banking Department.

Kentucky has given the answer to that question. It came about because some Kentucky tobacco growers have unclaimed money waiting for them in state coffers.

In June, as part of the Phase II Tobacco Settlement program, checks totaling more than $863,000 were returned to the state. Approximately 5,000 checks were returned because no forwarding address was left, the forwarding address had expired, the recipient was deceased or the post office box was closed.

The checks were among 164,000 — totaling $114 million — that were sent out.

The June checks will expire this year (June 2006). If their recipients do not collect, the money will go into an unclaimed property fund. After three years, the state may spend the money.

You bring in the mail, put it down in the usual place and by the end of the week you have a pile of paperwork. And now that it is the week end you want to go have fun rather than organize your bills. Read on and learn some simple solutions to dealing with that pile of papers.

The best solution is to keep it simple. The more complex you get the less likely you are to do something about the situation.

Want some helpful hints on how long to save documentation or what documentation is needed? Then this is for you.

Under the statute of limitations the IRS has three (3) years in which to audit a return. So minimally three years of documentation should be kept. However, many experts recommend keeping records for six (6) years. If the IRS suspects that you underreported income by 25% or more, it has up to six years to launch an audit.

When your son or daughter reaches the teen years finances change too. Adding your child onto your car insurance can be financially overwhelming for some parents. Below are some tips on how to cut this cost.

Find out how your insurer assigns drivers to cars. This differs from insurer to insurer and can make a huge difference in the premium you pay.

For example, if there are three drivers and two cars in your household, some insurers will assign the driver who’s the most expensive to insure (your child) to the car that’s the most expensive to insure.

Credit card companies are increasing the minimum monthly amount due in an effort to speed the repayment of the debt. However, what do you do about this higher monthly outflow enforced upon you?

Some credit cards have a minimum monthly payment that will take almost 30 years to wipe out the debt. This is the basic reason behind the increase on minimum monthly payments that creditors are implementing.