Every year, tax season comes barreling down upon us and some of us could be unsure of what to do or how to handle it… There are a few things we want you to remember during this time
1. Dont fall for the IRS phone scams! The IRS will never contact you by phone.. always by mail! They want you to call them, not the other way around. Check out their warnings here: IRS Scam Info
2. The more you save, you could get more credit for! Look to see how you might be able to receive an additional credit on your taxes this year: IRS Saver’s Credit Guide
3. Do you need to take a Required Minimum Distribution (RMD) from your retirement savings (IRA)? As much as we like to see the interest grow on our savings, when we reach the age of 70 1/2 years old, we cant just let the money sit there any longer! Take a look and see if you meet the requirements: IRS RMD Guide
Be sure to seek the advice of a tax professional if you cant find the answers to your questions here, IRS GUIDE, or if your special circumstances don’t fit the normal mold! Just don’t want until April 18th!