Sader Law Firm Blog

Tax Filing Mistakes That Could Delay Your Refund

Posted on February 14, 2018 by The Sader Law Firm

Last week’s blog went over smart ways to spend a tax refund. With the average tax refund being at over $2,000, you could set aside money to prepare for an emergency or resolve other financial issues in your life. The IRS will process most tax returns within three weeks. However, there are tax filing mistakes that may delay your refund. Inputting the wrong Social Security number. The IRS uses your Social Security number to verify your tax return. If you put the wrong Social Security number on your return, then your tax refund will be delayed. You may be able to avoid this error by e-filing your return. E-filing software may catch these types of errors before you submit your return to the IRS. Math and computational errors on your return. Your tax refund could be delayed if your return contains math or computational errors. If the numbers you put…
Read More »

What Other Student Loan Repayment or Forgiveness Options Are Available?

Posted on February 12, 2018 by The Sader Law Firm

Our blog has recently covered several aspects of the Public Service Loan Forgiveness (PSLF) program operated by the Department of Education. Recent blogs have informed you on eligibility requirements for PSLF. However, there are additional forgiveness options for specific types of federal student loans. Teacher Loan Forgiveness Program: The Department of Education’s Teacher Loan Forgiveness Program may allow you to have $17,500 in student loans forgiven. You would have to teach for five consecutive academic years at a low-income school and meet other qualifications. However, you must have certain types of federal loans to qualify. There are also other eligibility requirements for this program listed on the Department of Education’s website. Military loan repayment or forgiveness programs: There are multiple federal student loan forgiveness options for members of the armed forces. You could enroll in PSLF while serving. The Army Student Loan Repayment Program could repay up 33.33 percent of…
Read More »

What are Smart Ways to Spend a Tax Refund?

Posted on February 7, 2018 by The Sader Law Firm

The IRS officially launched tax season on January 29. You can file your tax return and possibly receive a refund. According to IRS statistics, the average tax refund was $2,782 in 2017. For many of us who receive refunds, it can be tempting to spend it on something we want and not something we need. There are smart ways to spend your refund even if it is smaller than what you were expecting. Save for an emergency: A recent survey published by Bankrate.com, a personal finance website, found only 39 percent of Americans could cover a $1,000 emergency. You could save your tax refund to pay for medical bills or rent after a job loss. These are just two examples of emergencies that could cost more than $1,000. Pay off your debts: You could use your tax refund to pay off student loans or credit cards with high interest rates….
Read More »