Financial News & Article
Just saw the latest IRS data and wanted to share some important insights about this tax season:
* The average tax refund is currently 32.4% lower than last year ($2,169 vs $3,207)
* These early numbers don't include refunds with earned income tax credit or additional child tax credit
* The IRS expects the figures to "even out" as more returns come in before April 15
Remember, the current data represents only 33 million returns out of an expected 140+ million. If you're waiting on your refund, use the "Where's My Refund?" tool or IRS2Go app rather than calling the IRS directly.
With IRS staffing reductions happening, double-checking your return for accuracy is more important than ever to avoid delays.
⚠️ Identity Alert: Being incorrectly listed as deceased by Social Security happens to fewer than 10,000 people annually, but the consequences can be devastating.
If this happens to you, visit your nearest Social Security office immediately with your current ID. This error stops your benefits and affects your dependents, too, making prompt action crucial.
The SSA receives death reports from states, funeral homes, family members, and other sources. While their records are highly accurate (less than 0.33% of death reports are incorrect), mistakes can happen and require immediate attention to resolve.
Fed Watch: The Federal Reserve's rate cut strategy is evolving.
The Fed still projects two cuts this year, but for different reasons than expected. Initially planned as "good news" cuts responding to declining inflation, they may become "bad news" cuts offsetting economic challenges from tariffs and spending cuts.
Consumer sentiment has dropped as Americans worry about rising prices. Meanwhile, economists have sharply reduced 2025 growth forecasts, with Barclays projecting just 0.7%.
Chair Powell remains cautious, watching how policy changes impact the economy before making moves.
If you've seen those tempting signs advertising luxury goods at bargain prices at pop-up auctions, you'll want to read this important warning.
Recent investigations reveal concerning practices at these temporary auction events:
Items advertised as "fine art" and "luxury goods" are often worthless reproductions.
One victim spent $6,000 on a "Picasso" that was appraised at just $70.
The fine print states descriptions are "opinions," not "facts."
Once auctions conclude, phone numbers on promotional signs stop working.
Operators use multiple business names, making them difficult to track.
The organizations behind these auctions have faced penalties, suspensions, and license issues across multiple states. Rep. Jan Schakowsky calls for an FTC investigation into these potentially deceptive practices.
Industry expert Renee Jones advises that legitimate auctions have extensive marketing, online catalogs, proper websites, and visible licensing - unlike these questionable pop-ups that disappear overnight.
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