Tag Archive for Visa

Non-Profits Should Be Aware of Issues With Chip-Enabled Credit Cards

It is highly likely that you have recently received a new, updated credit card from at least one of your credit card vendors. If you did, it is almost certainly one of the new “chip-enabled cards.” You most likely are wondering “What is this all about?”

The United States is very late to the game in the chip card market. These have been in use in Europe for a number of years. It is all about security. After the cards were introduced in Europe, there was a sharp decline in credit card fraud. Without getting into too much technical detail, the old magnetic strip cards allowed the retailer to store card data in their systems, making them ripe for data theft. The chip cards, referred to as EMV (Europay, Mastercard, Visa) utilize a process referred to as tokenization to increase security. In lieu of recording the credit card number a one-time “token” number is substituted in the Read More

Written by | Posted in Non-Profit Tax • Small Business

Green Card Holders: Residency In Foreign Country And Treaty Benefits!

Tracking Storm Linus on the weather websites, watching the storm blow around the white stuff all day long, snow piling up 16 inches and more on it’s way, sneaking peeks at the Super Bowl while trying to write up this post- I realized how far we have come–long, long ways from being Green Card holders.

But I do remember that the transition to Green Card holder from a visa holder can be a somewhat exhilarating, somewhat frustrating journey. This process can take a long time and comes with a lot of trials and tribulations.

The tax rules for a green card holder remain fairly the same as a US citizen or a long time US resident for most purposes. The complications come into play when the Green Card Read More

Written by | Posted in FATCA • FBAR