This March might be madness, and not just in the college-basketball sense.
Much is happening this month that could affect your finances: a thorny tax season looms, the Federal Reserve is expected to hike interest rates, and there are upcoming money deadlines you won’t want to miss.
Here’s the good news first: No 1., warmer weather is on it’s way, and No. 2, we’re going to break down everything you need to know into simple, easy steps (as we do every month).
These are the smart money moves you should make in March.
Lock in a lower mortgage interest rate before the expected Fed interest hikes
For borrowers with strong credit histories, refinancing can be a good way to obtain a lower interest rate. Click on your state to get a free quote.
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1. Wrap up your taxes early. (We mean it this time.)
If you’re among the 36 million Americans who have already filed their taxes, great job, you can keep scrolling. Of that number, the IRS has already started issuing about 22 million refunds.
Such are the perks of filing early.
Now, for the rest of you reading who haven’t filed yet, you should seriously consider doing so ASAP. In February’s installment of our monthly money moves, we recommended you get an early start on your taxes and to file electronically to get a refund faster. This bears repeating, especially since new details have come to light regarding just how backed up the IRS is this tax season.
As Money editor Julia Glum recently reported, the “overwhelmed, under-staffed IRS” is dealing with a bigger backlog of 2020 tax returns than previously thought, outdated computer systems, severe staffing issues and more.
All are reasons to file early. If you’re expecting a return, it will likely come sooner the earlier you file. If you’re expecting to owe, you’ll know what you owe sooner and have more time to prepare your payment.
Tax Day is just a few weeks away!
File your state and federal taxes with the help of a Tax Preparation Software by clicking below.
2. A federal broadband assistance program has ended, but you can enroll in a new one
At the end of last year, about 9 million low-income households were enrolled in a federal program that …….