WHERE YOUR TAX DOLLARS GO AFTER YOU PAY THE IRS

The link below goes to an excellent article that states where you tax dollars go after you pay the IRS and also sets forth how much the federal governement borrows to cover the rest of their budget.

https://www.military.com/daily-news/2018/04/24/where-your-tax-dollars-go-after-you-pay-irs.html

Email us if you want to give the IRS less tax dollars.  Don Nelson, US Tax Attorney

WHEN TO REPORT DIGITAL CURRENCY ON YOUR FBAR form 114

The IRS says it is not bound by oral advice.  Ignoring that rule,  we did received the statement below from an IRS agent by email.

Digital currency like Bitcoin would only be reportable if it is held in account with a financial institution or someone acting as a financial institution.   It is digital currency held in a digital wallet, not in a financial institution. The digital wallet is not a foreign financial account.  In that form. it is not reportable on FBAR.

Need FBAR help, email an experienced tax attorney with your questions at ddnelson@gmail.com