Cash on Hand Is Critical for Avoiding Hardship

Federal Reserve Bank of St. Louis – In The Balance – Emily Gallagher and Jorge Sabat 11/2017 Why would someone keep $1,000 in a low-earning bank account while owing $2,000 on a credit card that charges a double-digit percentage interest rate? Our research suggests that keeping a cash buffer greatly reduces the risk that a…

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More than four million U.S. taxpayers are directly engaged in the sharing economy, making everyday tasks like ordering household items, getting a ride to the airport and renting a vacation home easier for the rest of Americans. While being a member of this new era workforce is beneficial in a lot of ways – from…

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Intuit Statement on Tax Reform

Intuit is pleased Government is taking up tax reform and tax simplification and moving toward Congressional consideration of this critical priority.  We recognize that these issues will evolve as Congress works through the legislative process. Intuit has long advocated for tax simplification for individuals, families, small businesses and the self-employed.   Our mission to “Power…

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As our elected representatives begin the difficult but essential task of reforming our tax code, we strongly encourage them to keep tax simplification as the centerpiece of any reform package. Simplification of the tax code is beneficial to taxpayers across the country. The appeal of simplification starts with empowering every individual and small business to…

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IRS plans further steps to curb identity theft

Accounting Today – Michael Cohn – 10/17/17   Intuit chairman and CEO Brad Smith hailed the progress that has been made, but said more needs to be done. “American taxpayers are still under siege from cybercriminals, so we remain steadfast in our commitment to fight tax cyberfraud. We’re proud of the progress being made,” he…

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Leading researchers, practitioners and policy experts on the social safety net and tax policy gathered to discuss how households experience income volatility and ways current policies help or hinder families predict and plan for tax obligations and windfalls. The conversation included insights from research published by the Urban-Brookings Tax Policy Center “Income Volatility: New Research…

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Highlights: Financial Empowerment and the Tax Time Moment

  Intuit Tax and Financial Center, the National Consumer League, and the American Bankers Association Foundation hosted a Capitol Hill event, with a keynote from U.S. Treasurer Jovita Carranza, on ways that consumers can use tax refunds to benefit their financial health, as well as ways the government is helping people make the most of their Tax…

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“In spite of all the complexity, the tax season can be a very powerful time to encourage individuals and families to review their finances and to commit to saving for the future,” said the Honorable Jovita Carranza, Treasurer of the United States, in her keynote remarks at the September 25th event Financial Empowerment and the…

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The Demand for Small Dollar Loans

An unbelievable forty-four (44%) percent of adults say they either could not cover an emergency expense of $400, or would cover it by selling something or borrowing money, according to the 2016 Federal Reserve’s Report on the Economic Well-Being of U.S. Households. Obviously, access to credit helps people manage the unexpected expenses that are a part…

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