Banking Rates, CDs, Mortgages

The IRS officially opened electronic filing of 1040 returns Tuesday, January 17^th.  The filing center at RedGear Technologies has been transmitting returns at a record pace.

With the new IRS e-file mandate of 11 or more prepared returns, e-file volume is expected to increase significantly. The IRS has also placed constraints on the number of Legacy returns that can be filed, in an effort to ensure they receive a majority of the returns through the new Modernized e-filing platform.

RedGear has also released the 1065 and 1120 federal systems, and some states, for e-file. T

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We all have them – the successful friend that seem to have oozed success out of his or her pores since they left college. They are the friends that are already the bank presidents or the senior partners in the accounting firms.

Sometimes these friends like to spend a lot of money when they play. Sometimes you feel like you need to spend as much money as they do to keep up with them.

But don’t break the bank to play with them, or let the salary difference get in the way of having a good time with them.

Let your friends know upfront that you would love to hang out with them but money is tight. Be

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POUND
Sterling is trading down by a quarter of one percent this morning against the Euro but has managed to stay flat vs. the USD. This comes after a worse than expected unemployment rate, increasing to 8.4% from 8.3% expected, although the increase in the number of people claiming unemployment benefits was only 1.2k against 9.1k expected. This data although mixed will do little to encourage investors to buy the pound with the UK economy clearly struggling and with lower inflation data out yesterday, sterling’s performance rests heavily on whether the BoE will start QE again next month. T

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The Savings account interest rate at Aurora Bank, FSB has just changed from 0.25% APY to 0.6% APY with a minimum of $1,000 required. See the full details and rate info at Aurora Bank, FSB Money Market/Savings $1000 rate. Statement Savings

For roughly two years, I have been publishing a graph of the number of expatriates listed in the Federal Register (see Expatriation).  Earlier this year I was told that the individuals listed in the Federal Register generally only include individuals that meet the net worth test or the tax liability test under Code §877(a)(2).

I took a quick look at the statute, and I agreed.  Therefore, I wrote a blog post “clarifying” the graph. 

I recently decided to take a more detailed look at the rules when a reader of this blog informed me that his name was included in the Federal Register, even though he did not meet the net worth test or the tax liability test.  It tur

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Let’s start off the new year with a look at where rates for some consumer banking products went in 2009 and the outlook for 2010.

Mortgage rates finished the year where they started, with the average 30-year fixed rate at 5.33 percent. But much of the year was spent in record low territory, getting as low as 5 percent in November before marching upward throughout December in what is likely a sneak preview of what is to come in 2010.

With the Federal Reserve’s mortgage bond purchases winding down, the government issuing boatloads of debt, and inflation worries percolating among some investors (but not the Fed!), the risk for mortgage rates is to the upside.

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Apple has released their Best of 2011 apps, and of course there is a Finance Category. As you have probably guessed it, one of the Big Six banks holds a top spot for the Canadian Financial category for popularity.

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Major events to affect the trading of the euro against the US dollar for the week ending January 13^th, 2012 are as under:

On Monday, report on investor confidence was reported in the euro zone region along with data on German industrial production. In United States, member of Federal Open Market Committee, Dennis Lockhart is to address at a public event.

On Tuesday, January 10^th, 2012, official report on French industrial production will be released in euro zone while in United States, FOMC member John Williams and Sandra Pianalto will address at an event.

On Wednesday, January 11^th, government data on crude oil stockpiles will be released in United States while US Federal Reserve will publish its Beige Book.

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