Just quick reminder about some important deadlines that are coming up. If they apply to you, don’t screw up by missing them.
JUNE 30, 2013 – REPORT OF FOREIGN BANK AND FINANCIAL ACCOUNTS (FBAR)
This is the deadline for reporting foreign bank and financial accounts to the IRS on Form TD F 90-22.1. Unlike income tax returns, you can’t request a filing extension for this report. To learn more, go to http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Report-of-Foreign-Bank-and-Financial-Accounts-%28FBAR%29
Based on my experience, it takes about five minutes per account to complete the form.
JULY 1, 2013 – CHILDREN’S ONLINE PRIVACY.
The U.S. Federal Trade Commission’s new rules governing children’s online privacy goes into effect. If your websites (or mobile apps) are covered by the rule, it’s time to make sure you’re compliant. More info at http://www.business.ftc.gov/privacy-and-security/childrens-privacy
Consult with your Internet legal and tax professionals if you have any questions about compliance.