Avoid Scams related to Economic Payments!
The IRS is warning taxpayers to be vigilant about scam artists how may contact you about the government checks soon to be distributed.
What do I need to do to receive the payment the government is sending to taxpayers?
Most people will not need to do anything to receive the “Economic Impact Payment to Taxpayers.” The IRS is sent out a one-time payment to individuals and families to help replace lost wages in the short term.
What can I do if I can’t file my income taxes by April 15, 2020?
The IRS announced on March 21, 2020 that the 2019 federal tax filing deadline is extended from April 15 to July 15, 2020.
Required Minimum Distributions are Waived for 2020
The CARES Act, which was signed into law on Friday, March 27, 2020, provides broad relief to IRA owners over 70 ½ who normally are required to take a minimum distribution from retirement accounts annually.
Make Charitable Donations Directly from your IRA
For taxpayers who are 70 ½ and older, you can take the Standard Deduction when you file your taxes and still benefit from your charitable giving.
How to Protect yourself against Phone Call and Email Scams
The #1 financial scam against seniors is the Social Security scam. One of the latest scams is a phone call that your social security number is being suspended due to suspicious activity. Help protect yourself against this with these tips.