The Internal Revenue Service has alerted financial institutions to the proper handling of erroneous federal tax refunds resulting from an emerging fraud scheme that could affect thousands of people across the country. Merely a month into the start of the 2018 filing season, the IRS identified a new scam in which cyber-criminals have stolen client data from tax professionals and filed fraudulent refunds using real taxpayer information, including bank account and routing information for direct deposit. The fraudster then contacts the taxpayerRead More About Tax Fraud Alert!
Tax season is upon us, and unfortunately, if you pay taxes, you are at risk for Tax Identity Theft. At TNConnect, we believe the best way to protect our members is to spread awareness about cyber-criminals and their ever-evolving scams. Click on the link below to see the latest publication from the IRS about protecting yourself and your identity during tax season. Security Awareness for TaxpayersRead More About Identity Theft During Tax Season
Deferment and forbearance on student loans are great options for an emergency, but these short-term solutions may not offer the same long-term help or benefits that a different repayment plan would. Check out the below article from SALT to learn possible downsides to deferment, when you should and shouldn’t postpone payments, and alternatives to postponement. Or read the original article here. Applying for a deferment or forbearance to postpone your student loan payments is temptingly easy—sometimes, all you have to do is ask overRead More About Should You Postpone Your Student Loan Payments?
As 2017 comes to a close, we want you to be able to maximize your tax return next Spring. Here are a few tips from Travis Cullman, our Financial Advisor partner with Raymond James Financial Group. Here are 10 things to consider as you weigh potential tax moves between now and the end of the year. 1. Set aside time to plan Effective planning requires that you have a good understanding of your current tax situation, as well asRead More About Ten Year-End Tax Tips for 2017
Expenses add up this time of year, and we all feel the pinch on our budgets. We want to help you keep that budget merry and bright, despite the added expenses of holiday shopping! Check out the post below from our partners at Balance for tips on maintaining the holiday budget. – Tammy Hill, EVP, TNConnect Credit Union Peruse the aisles of most department stores and you’ll see it: holiday items for sale. Yes, whether or not you’re ready, theRead More About How to Keep Your Holiday Budget Merry and Bright!
As we ramp up for the biggest shopping season of the year, TNConnect wants to protect our members when shopping online. Protect yourself with the below tips this shopping season. – Thomas Lumadue, VP of Operations With the convenience of online shopping comes an increased risk of identity theft and Internet scams. Roughly half of American adults (110 million) had their personal information exposed by cybercriminals in 2015 alone. The Department of Homeland Security recommends these simple tips: Links inRead More About Protection from Internet Scams and Identity Fraud
We want to make members aware of yet another financial scam. From our partners at Balance, read on to learn about the “Can You Hear Me Now?” phone scam. – Thomas Lumadue, Vice President of Operations, TNConnect Credit Union Phone Scam: 5 Ways to Protect Yourself There’s a new phone scam sweeping the country… The “Can you hear me now?” scheme attempts to record your voice over the phone. (When you pick up the phone, you’ll hear someone ask, “CanRead More About Scam Alert! Can You Hear Me Now?
Go out into your yard and dig a big hole. Every month, throw $50 into it, but don’t take any money out until you’re ready to buy a house, send your child to college, or retire. It sounds a little crazy, doesn’t it? But that’s what investing without setting clear-cut goals is like. If you’re lucky, you may end up with enough money to meet your needs, but you have no way to know for sure. How do you setRead More About Investing for Major Financial Goals
Effective today, Friday, September 15th, NACHA is changing the way certain electronic payments may post to consumers’ accounts, making some transactions post the same day they are made. Many merchants and billing companies may offer you the option to make a same-day electronic payment, such as to pay a bill or to transfer funds. If you agree, then the funds might be debited from your account as soon as that very same day. For example, if you have aRead More About Same Day ACH Debits
Equifax announced late last week a cybersecurity incident potentially impacting approximately 143 million U.S. consumers due to the exploitation of a website application vulnerability during the period of mid-May through July. During this breach the hackers gained access to certain files, which included some or all of the following personal information: Names Social Security numbers Birth Dates Addresses Driver’s License numbers Credit Card Information At this time Equifax has reported no evidence of unauthorized use of consumer data linked directly toRead More About Equifax Cybersecurity Breach