Bank finance articles and tips

Form 709, is required to be filed if a gift is made to someone for more than $13,000 in one year. Gifts between spouses are not required to file. Gifts can be made to an unlimited number of people in a year provided they are below the $13,000 per person annual exclusion.

The return is due on April 15 following the year of the gift. For example, for gifts made in 2011, the return is due on April 15, 2012.

This due date can be extended two ways. First, you can file for an extension on your individual income tax form using Form 4868. The other option is to file Form 8892, Application for Automatic Extension to File Form 709. The extension will extend the filing due date for six months. A return with a valid extension would be due on October 15.

In 1967 a Barclays bank located in England opened the first ATM, or automatic teller machine. Also commonly referred to as a cash machine, or as a bank machine, ATMs are widely used. Many individuals who use an ATM do so for the sole purpose of taking money from their current savings account, or their current checking account. Phone bills, and also utility bills, among other things, can be paid through the use of an ATM.

Bank customers are accustomed to the services provided by ATMs, and now consider them essential. The entire industry of banking was revolutionized by the ATM. People no longer had to stand in long lines to access money in the bank. Appreciated by many people was the fact that they had access to all of their funds even if the bank was not open. The customer experience when using an ATM could still receive improvements.