The State of Wisconsin Department of Revenue warns taxpayers of Multiple phishing scams!
There are multiple phishing scams being reported of requests of employees, employers, and HR departments to submit copies of information returns (W-2s and 1099s) by email to resolve tax issues. The Department of Revenue (DOR) does not make requests for copies of information returns by email and does not request that information returns be submitted to it via email due to the personally identifiable information they contain.
DOR is currently reconciling millions of information returns (e.g., W-2s, 1099s) it received in January and February with the withholding reported by payers on Form WT-7 and individuals on income tax returns. In doing so, DOR may request copies of information returns it has not received or needs to verify. DOR makes such requests by letter though the U.S. Mail - not by email.
Making bi weekly mortgage payments will pay your principal balance faster while reducing the amount of interest you will pay.
To Sum this up.... You are actually making one additional payment a year. In Example S, you are paying $21,583.80 a Year and In Example A, you are paying $23,382.58, There are 52 weeks in a year making a payment every other week is making 26 payments at half the monthly mortgage amount vs. making 12 payments at the monthly mortgage amount.
Along with reducing your interest you also reduce the amount of time it will take to pay the loan.
A change in your circumstance can affect your Premium Tax Credit.
Do you have an increased or decreased income? Including lump sum payments.
Have you had a Change in your marital Status? Married or Divorced?
Have you moved and your primary residential address changed?
Have you had a legal increase or decrease in dependents?
Have you had a change of eligibility for any sponsored Healthcare Coverage?
If any of the above apply to you or will apply to, it is imperative that you report these changes.
Reporting changes prior to the event or when the event occurs will save money. You could qualify for a reduction on your monthly payments or you could avoid retroactive penalties.
To report changes you will need to contact your Healthcare Insurance Market.
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Spencer Accounting Group, LLC does not provide investment, tax, legal, or retirement advice or recommendations in these blogs. The information presented here is not specific to any individual's personal circumstances.
Keana Spencer is an Accountant, Entrepreneur, and Educator to her clients, with a strong passion. Keana has over 10 years of experience and through her practice, she is a source of knowledge and strategies to her clients.