Dear Liz: Is there a “court of last resort” when dealing with the IRS and the Treasury Department? I tried to buy an I bond using my tax refund. My tax preparer checked the appropriate box on the 1040 and submitted the form 8888. No bond was sent to me and I have been sent back […]
Recent Blog Posts
Q&A: Why your Medicare premium might jump unexpectedly and what you can do about it
Dear Liz: I find myself in a very bad tax/Social Security/Medicare loop that I am sure many other seniors are in as well. First, I sold my house and had to pay $50,000 in federal taxes. Now, I have to pay $900 a month for Medicare because I showed a high income for the year I […]
How to complain and get results
If you feel you have more to complain about these days, you may be right. The products we use are increasingly complex, which often means they have more ways to malfunction. Companies are still struggling to hire and retain workers, so the customer service representatives who are supposed to help you may not know how. […]
This week’s money news
This week’s top story: Smart Money podcast on what we learned about our money in 2022. In other news: Holiday travel chaos is coming and how to handle it, why 2023 could be a bit better for home buyers, and benefit from fed rate hikes with a high-yield savings account. Smart Money Podcast: What We Learned […]
Q&A: Social Security rules differ for divorced spouses and divorced survivors. We explain
Dear Liz: My spouse’s parents were married for 11 years. They divorced at age 32 and my mother-in-law remarried at 42. My mother-in-law and her ex are now 82. Her husband is 93 and in poor health. When her husband dies, she does not get his pension. Her current Social Security benefit is $850 a month. […]
Q&A: Authorized credit card users
Dear Liz: Following your advice on building credit, we recently added our son as an authorized user on one of my credit cards. My question is, what happens when I pass away? Does the card remain with him as the only user? Do I need to address this in my will? Answer: Your executor, the person you named in […]