America Saves Week 2016 | Daily Savings Focus: Saving at Tax Time

Friday, February 26: Save at Tax Time

Saving a portion of your tax refund can be a big step toward meeting your savings goals. This tax season, get ahead of your financial goals by splitting your tax refund into savings, and reward yourself with SaveYourRefund.

More tax savings strategies.

Get Financially Fit! | SaveYourRefund

Tax season is here! Are you expecting a refund? Do you plan to save a portion? Each year during tax time, tax filers receiving a refund have an opportunity to set aside savings. Many Americans do not realize that the IRS has created a specific form built right into the tax filing process that enables all American tax filers to automatically save a portion of their tax refund with one simple step. Form 8888 enables this seamless and near universal opportunity to save.

Get Financially Fit! | Tax Savings Strategies

U.S. News and World Report recently featured an article written by Lisa Greene-Lewis, certified public accountant and TurboTax® tax expert. Greene-Lewis' article is entitled, "10 Tax Savings Strategies for 2016." Below is an excerpt and a link to the full article.

Whether you had a good year or a not-so-good year, from a tax perspective, the beginning of a new year is the best time to reflect on your previous year and make smart, attainable tax moves so you are better prepared when it comes time to file your taxes. 

Here are 10 easy tax savings strategies to help you save money in the new year.

Read Full Article

One and Done: What You Should Know About the IRA Rollover Rule Change

One and Done: What You Should Know About the IRA Rollover Rule Change

by Center for Personal Finance editors

The Internal Revenue Service (IRS) has changed its position on the IRA (individual retirement account) rollover rule. Starting in 2015, it's "one and done"—the IRS limits people to one rollover in a 12-month span, no matter how many IRA accounts they own. They still may make unlimited trustee-to-trustee IRA transfers.

Refund Expectation Management: 3 Reasons Your Refund Might Not Be As Big As You’re Expecting

Written by CUContent admin

January 27th, 2015

Everyone tells you not to plan on having a tax refund. If you’re living paycheck-to-paycheck, though, you know where every dollar is going. You might be counting on that money to give you the breathing space you need.

Even if you’re a little further ahead than that, you may still have made plans for your tax refund. You might be planning to pay off a credit card from the holidays or hoping to put a down payment on a car. You might just be hoping to take a little vacation over spring break!

Whatever your plans for the money, it’s a good idea to temper your expectations. Unfortunately, you can’t count on the same tax refund you got last year. Here’s why.


1.) Student loan garnishments

If you’re behind on your student loans, you might not see much of your refund. If you don’t have much of an income, it’s easy to get behind and it’s hard to catch up. One of the reasons lenders love these loans is that they’re very difficult to get rid of. If you’re in default or declare bankruptcy, those lenders are still trying to get their money.