Beware Stimulus and Tax Scams

It’s stimulus season and tax season at once, and scammers couldn’t be happier. They know that taxpayers are eager to get their hands on their stimulus payments and tax refunds. As consumers are working to file their taxes before the May 17 deadline, all that paperwork and payments mean people may be letting their guard down. For a scammer, nothing could be better!

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Getting The Most Out Of Youth Accounts

Managing money is a foundational life skill. There are so many factors involved and so many open-ended questions at play. How much should you be saving? When is it worth spending more? How do you keep spare change from burning a hole in your pocket? It takes years of discipline and training to perfect this skill, and ongoing self-control to maintain it.

That’s why it’s best to give your kids a head start on money management and saving by opening a youth account for them. As a parent or guardian, remember that the lessons you plant today will take root and blossom, enriching your child’s life for years to come. In honor of National Credit Union Youth Month, here are three steps to take for ensuring your child gets the most out of a new or existing savings account.

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If You Hear This, You’re Talking to a Tax Scammer

It’s tax season, and scammers are working overtime to get your money. Tax scams are as varied as they are common, but when you know what to look for, you can beat fraudsters at their game and keep them from getting your money and your information.

If you hear or see any of the following 12 lines this tax season, you know you’re dealing with a scammer:

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When to Expect your Stimulus Payment

Over the next few weeks, the IRS will be rolling out payments via check and direct deposit. Here are a couple of important things to keep in mind, as stated by the IRS.

• Not everyone will receive their payment at the same time. The IRS is sending out payments in batches. While the first batch of payments has gone out via direct deposit, don’t worry if you haven’t seen it in your account yet. IRS has said that additional batches of payments via direct deposit will be sent in the coming weeks, as well as checks and debit cards.

• Some members may see funds as early as March 16 or 17. The IRS has named March 17^th as the “official payment date.” Typically, Scott Credit Union will process payments on the date for which they are submitted. However, our team has been working hard to process these payments early to get this much-needed payment in our members’ hands as quickly as possible. If you are included in the IRS’s first batch of payments, you can expect to see your deposit either Tuesday, March 16 or Wednesday, March 17.

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All You Need to Know About the New Stimulus Bill

On March 11, the $1.9 trillion American Rescue Plan was signed into law. The plan promises further financial relief and assistance to millions of Americans who may still be struggling with the financial devastation of COVID-19.

Below, we’ve outlined some of the most significant measures included in the plan:

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