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Author: Susan Tompor, Detroit Free Press

Money

Outraged by credit card, mortgage, bank fees? Here’s who wants to hear from you

January 30, 2022 Susan Tompor, Detroit Free Press Comments Off on Outraged by credit card, mortgage, bank fees? Here’s who wants to hear from you

How much do financial fees obscure the true cost? Some big banks cut overdraft fees, but the Consumer Financial Protection Bureau wants more progress.

Money

Your credit card will cost you even more money if interest rates go up. Here’s what to do.

January 26, 2022 Susan Tompor, Detroit Free Press Comments Off on Your credit card will cost you even more money if interest rates go up. Here’s what to do.

As the Fed fights a spike in inflation, consumers will pay more to borrow on their credit cards in 2022. Here’s a look at some strategies ahead.

Money

Mistakes with child tax credit, stimulus can trigger refund tax delays, IRS warns

January 25, 2022January 25, 2022 Susan Tompor, Detroit Free Press Comments Off on Mistakes with child tax credit, stimulus can trigger refund tax delays, IRS warns

The IRS urged extra caution for those who received money through the advance child tax credit and the third stimulus payment in 2021.

Money

First glitch of the tax season is here: That IRS child tax credit letter may be inaccurate

January 24, 2022 Susan Tompor, Detroit Free Press Comments Off on First glitch of the tax season is here: That IRS child tax credit letter may be inaccurate

Parents may want to take an extra close look at IRS Letter 6419 before they file their taxes. Early reports indicate some errors possible.

Money

Don’t throw away this document. Why IRS Letter 6419 is critical to filing your 2021 taxes.

January 23, 2022January 25, 2022 Susan Tompor, Detroit Free Press Comments Off on Don’t throw away this document. Why IRS Letter 6419 is critical to filing your 2021 taxes.

Many parents could toss a key tax-related letter from the IRS relating to child tax credit payments in 2021. Here’s what IRS Letter 6419 looks like.

Money

2022 tax advice: How to get child tax credit cash, charitable deductions and free help

January 22, 2022January 23, 2022 Susan Tompor, Detroit Free Press Comments Off on 2022 tax advice: How to get child tax credit cash, charitable deductions and free help

The IRS will begin accepting tax returns on Jan. 24, 2022. Here’s what to know about filing taxes, unemployment claims and child tax credit payments.

Money

Rapid rise in mortgage rates startles homebuyers, who blame inflation fears

January 22, 2022 Susan Tompor, Detroit Free Press Comments Off on Rapid rise in mortgage rates startles homebuyers, who blame inflation fears

The average 30-year rate was 3.08% in November but shot up to 3.54% by mid-January. The speed is a bit startling, but so was the spike in inflation.

Money

GM teams up with Marcus by Goldman Sachs for new digital-friendly credit card

January 14, 2022January 17, 2022 Susan Tompor, Detroit Free Press Comments Off on GM teams up with Marcus by Goldman Sachs for new digital-friendly credit card

The new My GM Rewards Card is designed to drive GM car and truck sales and to reward loyal customers with nearly instant point redemption.

Money

If the IRS is accepting tax returns Jan. 24, does that mean you’ll get your refund early?

January 13, 2022January 13, 2022 Susan Tompor, Detroit Free Press Comments Off on If the IRS is accepting tax returns Jan. 24, does that mean you’ll get your refund early?

Although the IRS will start accepting returns on Jan. 24, you may not get a refund until mid-February – especially if you got child tax credit money.

Money

Child tax credit money will be a no show in January; look out for IRS letter instead

January 13, 2022January 14, 2022 Susan Tompor, Detroit Free Press Comments Off on Child tax credit money will be a no show in January; look out for IRS letter instead

What many families might not realize is that monthly child tax credit payments last year were to represent only half of a family’s estimated credit.

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