IRS launches new tax refund smartphone app

Listen up smart phone users. The Internal Revenue Service (IRS) unveiled a new iPhone application called IRS2Go that lets anxious consumers check on the status of their tax refund. Also, taxpayers can enter their e-mail address to receive daily advice directly from the IRS.

"This new smart phone app reflects our commitment to modernizing the agency and engaging taxpayers where they want when they want it," says IRS Commissioner Doug Shulman. "As technology evolves and younger taxpayers get their information in new ways, we will keep innovating to make it easy for all taxpayers to access helpful information."

Apple users can download the free IRS2Go application at the Apple App Store; Android users can go to the Android Marketplace.

"This phone app is a first step for us," Shulman adds. "We will look for additional ways to expand and refine our use of smart phones and other new technologies to help meet the needs of taxpayers."

The mobile app, among a handful in the federal government, offers a number of safe and secure ways to help taxpayers. Features include real-time updates on their refund status, which will work within about 72 hours after filing electronically, compared to four weeks using snail mail. Also, the IRS will send out daily tax tips through the app and offer additional news via their Twitter feed at @IRSnews.

Click here for the lowdown.

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Inside Consumer United :: Wesley Jordan

Since joining the group in August of 2010, Wesley Jordan has contributed to Consumer United’s ongoing growth and helped hundreds of people save money on insurance products. Jordan approaches his position as a Consumer Advocate with a philosophy that has served both the company and consumers well. "The more you know, the more tools you have to help someone," Jordan replies when asked how he’s been successful in saving clients money.

In addition to his depth of insurance knowledge, Jordan’s warm sense of humor and helpful nature have made him a fun and valued addition to the New Jersey Auto team.

Born in Nashua, New Hampshire, Jordan attended Colby-Sawyer College where he earned a B.S. in Business Administration and Sports Management. While waiting patiently for a front-office job with the Celtics, he enjoys sports both as an avid fan and participant. If he’s not following New England teams, he's taking advantage of New England weather and can be found playing snow football in the winter and on the basketball court in the summer. Jordan also volunteers with a youth soccer league in nearby Hudson, NH where his belief in the benefits of sharing what you know clearly extends beyond the office.

As a recent college graduate with school loans who entered a weak economy, Jordan is driven for the need to save, both in putting money aside and using it wisely. He notes the importance of being disciplined, but also self aware and reasonable. “I put a percentage of my check away each pay period in a separate savings account that I made not so accessible,” he says, adding with a confessing grin.

After accounting for bills and some permanent savings, Jordan allows for the occasional indulgence. This time of year? “A Celtics game.”

--Steve Kovach

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Tips to get more from personal banking

With all of the fees and low interest rates on savings accounts, banking can be surprising expensive. Consumer United has compiled a list of tips to help you avoid hidden fees and needless hassles.

1. Stay informed. A lot of banks stagger the order in which checks are deposited and accounts are debited in order to charge as many overdraft fees as possible. Keep a "cushion" in your checking account to ensure that any crafty banking practices won't dent your wallet.
   


2. Consider alternatives to a traditional checking account at a large, national bank. Credit unions sometimes have more flexibilities when it comes to overdrafting, and prepaid debit cards can also be a good option for customers who frequently send their accounts into the red through point of sale transactions.


3. Find a bank that works and stick with them. Banks may be more likely to accommodate the requests of long-term customers who have both checking and savings accounts. It's expensive for service providers to acquire new customers and maintaining a history with your bank will make them want to lose their established customers even less.
   


4. Get back to basics. With multiple accounts and a wallet full of debit and credit cards, it can be difficult to keep track of numerous balances. The more cards and accounts you have, the easier it is for you to overdraft. It's old-fashioned, but allotting a designated amount of cash for spending each week is a fool-proof solution.

Don't forget these write-offs when filing taxes

Are your tax returns out of shape? Don't fret. In anticipation of the 2010 tax season deadline extended to Monday, April 18, we've assembled a few tips to battle that post-recession bulge. No weights or cardio work necessary. We promise.

So, what should you remember from the past year that will have an impact when you file taxes?

Tuition
Did you pay tuition? Back in February 2009, the American Opportunity Credit for 2009 and 2010 (was the HOPE credit enhanced by February's stimulus bill). What's cool about the 2009 version? It has a higher phaseout for income, and a higher maximum credit. Income for singles is now at $80,000 to $90,000 and joint filers $160,000 to $180,000. The maximum credit is now $2500 with 40% refundability.

Home improvements
Home improvements made in 2009 will help this year's taxes. The energy-efficient home improvement tax credit was revitalized as well thanks to the February stimulus plan. In 2009, a 30% credit was offered for up to $1500 spent. This credit can be used on most energy-efficient appliances such as furnaces, water heaters, and also insulation, windows, roofs and fans. If your purchase qualifies for the credit, it should come with a "qualifying" sticker from the manufacturer.

New car
Bought a new car? Purchases made between February 17th to December 31, 2009 are offered a deduction, allowed for up to $49,500 of the new car's price. For this type of benefit, the income limit is extremely high. For singles, the limit is $125,000, and joint filers up to $250,000.

Property taxes
Don't forget this deduction when you are looking over real property taxes. A new deduction ($500 for singles, and $1000 for married couples) was added last year for non-itemizers. If you don't itemize...don't forget this deduction.

Also, Consumer United has teamed up with TurboTax® to make times a little easier. File your simple return for FREE with TurboTax® Federal Free Edition. Click here to start saving.