By Annie Cromwell, America Saves Communications Associate
Today starts the Federal Trade Commission’s (FTC) Tax Identity Theft Awareness Week - to raise awareness about tax identity theft and provide individuals with information to arm themselves against thieves. The FTC is hosting 16 countrywide events in addition to a series of webinars and Twitter chats.
by Lisa Severson, USAA
As the April 15 tax deadline draws near, swindlers are thinking of the best ways to defraud you of your hard-earned cash. Be vigilant and don't fall for any tax-season scams. Here are five common ones:
Tax season is slowly approaching and after the gifting holidays, you might be tempted to spend your entire refund on something you don’t really need like a new wardrobe, the wide-screen TV you’ve been wanting, golf clubs, or another non-necessity. It’s okay to spend a little for yourself, but being responsible about how you spend your refund now will be a huge help in the months to come. And don’t forget to use the 30-40-30 plan to pay for your past, present, and future.
By by Benjamin Feldman, Writer & Content Strategy
With the New Year comes the beginning of tax season, and that means people are starting to think about what to do with their tax refunds. While it may be tempting to take a shopping spree or a vacation, you’ll be much happier in the long run if you use your tax refund to secure your finances. A new outfit might make you happy today, but a healthy savings account will make you happy tomorrow! If you have debt, it’s even more important to use your tax refund strategically, because your debt not only prevents you from pursuing wealth-building financial options, it also costs you money.
By Mikki Venekamp, AFC®
I used to see the tax preparation company commercials on TV and think I should go into one of those places to get the “maximum refund.” It wasn't until I took a tax preparation course and actually worked for a nationally recognized tax firm for a few years that I realized all tax preparers are following the same tax codes, so how on earth can a tax professional who works at a tax firm can get you more money back than if you file the return yourself following the exact same tax rules?