Foreign accounts

Foreign banks will begin reporting to the IRS on US people with accounts containing more than $50,000. This will be phased in from 2014 to 2017.

And Remember!

You won't necessarily get a tax deduction if you donate a building to the local fire department so they can burn it down as a training exercise. If the purpose of your donation is to get free demolition services, you will get a deduction only to the extent that the value of the building is greater than the value of the demolition services you receive!