There may never be a good time to draw the IRS’ attention, but this year you really want to avoid extra scrutiny. The IRS is so understaffed and overwhelmed that even a tiny mistake could delay your refund for months. A return that requires “manual processing” — basically, any action by an IRS employee — […]
Recent Blog Posts
Monday’s need-to-know money news
Today’s top story: How a home improvement fund can upgrade your new house to a home. Also in the news: Single-income couples, and when to use your FSA and HSA, and how rising inflation could mean your home is underinsured. How a Home Improvement Fund Can Upgrade Your New House to a Home A home improvement […]
Q&A: Your earthquake kit should include cash. But how much?
Dear Liz: In these uncertain times, I decided I need to have cash on hand. I withdrew $500 in small bills from the bank and put it in a fireproof pouch. Is there a recommended amount of cash one should have available for emergencies? Answer: The appropriate amount depends on how much you spend and how paranoid […]
Q&A: Guard your Social Security number
Dear Liz: You recently stated Social Security numbers were never intended to be used as a universal identifier. I’ve found that every place asking for my number has other means of identification and will ask for my mother’s maiden name or my place of birth when I tell them I don’t use my Social Security number […]
Q&A: Bypass the bypass trust
Dear Liz: You mentioned in a recent column that people should check estate plans created before 2010 because they might contain bypass trusts that are no longer needed. The classic AB Trust, although not necessary now for the estate tax exemption for most people, still can be useful if one spouse wants to ensure her half […]
Friday’s need-to-know money news
Today’s top story: 3 steps to breaking unhealthy financial habits. Also in the news: Another $400 in free college aid, 4 retirement savings strategies for family caregivers, and what to know about the trend in buying “vacation homes” before a regular “starter home.” 3 Steps to Breaking Unhealthy Financial Habits How do you know if you […]