Do you have a prepaid card in your wallet? They’re popular because they’re convenient. You, your employer, or someone you know loads money onto the card, and you use it in a manner similar to a credit or debit card. In the past, prepaid cards lacked some consumer protections. Now, the Consumer Financial Protection Bureau has finalized rules that limit your liability for unauthorized charges to $50, as long as you notify the card issuer promptly. The new rules also include requirements for clear explanations about fees, and free access to account information.
Gilliland & Associates, PC is a full-service CPA firm specializing in tax planning for individuals and businesses in the Northern Virginia area. We are based in Falls Church, VA and also service clients in McLean and Tysons Corner, VA. Gilliland & Associates is known for our superior knowledge and aggressive interpretation and application of tax laws. We help you keep more of your earnings by finding you the lowest possible tax on your business or personal tax return. You can connect with us on Google+, LinkedIn, Facebook, and Twitter.