Last-Minute Tax Tips to Know Before You File

Last-Minute Tax Tips to Know Before You File

The big day is drawing near, and if you haven’t already done so, it’s time to file your tax return! Before you file, though, it’s a good idea to review your return to ensure you haven’t made any mistakes or forgotten any deductions or credits you’re eligible to claim. Below, we’ve compiled a list of last-minute tax tips to know before

Don’t Get Caught up in a Tax Return Scam!

Don’t Get Caught up in a Tax Return Scam!

It’s tax season, and while that may mean you’re drowning in forms and paperwork, for scammers it means millions of taxpayers they can potentially dupe out of refunds or scare into making irrational moves. Here’s what you need to know about tax return scams and how to avoid them.

 
How the scams play

Beware Tax Filing Scams

Beware Tax Filing Scams

It’s tax season, so it’s time to get your paperwork in order and hire a tax preparer. Unfortunately, though, there are thousands of scammers looking to steal your information and your tax refund by posing as authentic tax preparers. It’s important to learn how to recognize the signs of a fraudulent tax preparer so you don’t fall victim to a tax filing scam. Here’s

Take Action: Tell Congress to Oppose New IRS Reporting Provisions

Take Action: Tell Congress to oppose new IRS reporting provisions

Credit unions are closely monitoring an onerous tax provision being considered in a proposed $3.5 trillion “Build Back Better Act” reconciliation package. One measure for this legislation that has been discussed is a proposal by the Treasury Department to require financial institutions

Category: Credit Union News

What Do I Need to Know About the Advance Child Tax Credit Payments?

What Do I Need to Know About the Advance Child Tax Credit Payments?

Q: I’ve heard that the IRS will start making advance payments toward the Child Tax Credit of 2021 this summer. What do I need to know about these payments?

A: The advance payments of the Child Tax Credits of

Indiana Department of Revenue Warns of Tax Text Scam

Indiana Department of Revenue Warns of Tax Text Scam

The Coronavirus pandemic has seen a rise in a number of scams. Among them include scams involving Unemployment,

IRS Reveals List of Dirty Dozen Tax Scams for 2020

IRS Reveals List of Dirty Dozen Tax Scams for 2020

Each year, the IRS publishes the “Dirty Dozen,” a list of tax scams most prevalent during that year’s tax season. This year, with COVID-19 pushing off the federal tax deadline to July 15, the IRS held off publishing the list until early July, and of course it’s loaded with COVID-19-related scams.

The Beginner’s Guide to Filling Out a W-4

The Beginner’s Guide to Filling Out a W-4

It’s no secret that the IRS excels at making things complicated. And when you’re busy learning the ropes of a new job, trying to fill out a 4-page W-4 form can be a huge hassle. It’s not a good idea to rush through it, though, because a small mistake now can mean withholding too much or too little of your

Tax Deadline Delayed

Tax Deadline Delayed

As part of the government’s efforts to help avoid a recession, Treasury Secretary Steven Mnuchin announced that the tax deadline would be pushed off by a full 90 days.

Here’s what this announcement means for taxpayers.

Under normal circumstances, taxes are due by April 15. If tax filers cannot complete their taxes in time, they can request a 6-month extension

Don’t Toss That Junk Mail — It Might be Your Stimulus Payment

Don’t Toss That Junk Mail — It Might be Your Stimulus Payment

Four million Americans are receiving their Economic Impact Payment in the form of a prepaid debit card — and many are mistaking it for junk mail.

Last week, the U.S. Treasury Department and the Internal Revenue Service (IRS) began sending out Economic Impact Payments (EIP) as prepaid debit cards. The cards arrive

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