The Advocate
A DCC Educational Newsletter
Winter 2004
IT’S TAX TIME
April 15th is looming before us, and that makes many people get a sinking feeling. This year, handle your taxes the smart way.
• We all like to have money in our pockets – the sooner the better. But why pay a tax preparer an average fee of $75 to get a tax refund “quicker”? It takes an average of 10 days anyway. If you file your taxes early, you’ll get any refund due you in a few weeks, and you’ll be happier that you held on to the extra cash.
• Unless your financial situation is highly complicated, why not prepare your taxes yourself instead of hiring someone? If you need assistance, you may qualify for the IRS’s Free File Service. Visit the IRS’s website at www.irs.gov for more information. If you are elderly, disabled, have low income, or struggle with English, contact the Volunteer Income Tax Assistance program at 1.800.829.1040 to find out more about their local programs.
WATCH OUT! THAT SECOND SWIPE CAN GET YOU
Imagine yourself standing on line at your favorite store, waiting to buy a few needed items. Now it’s your turn and you give the cashier a credit or debit card. You happen to notice that the cashier swipes the card more than once. You don’t think anything of it. A few weeks later, you try to make another purchase and your debit or credit card is declined. A panic comes over you…
This is the scenario that’s happening with increasing frequency across the country. The scam involves a cashier or another type of service provider, who doubleswipes (or triple or more) your card. At the moment it happens, your receipt shows only your intended purchases. But immediately after your valid transaction, the thief quickly processes their purchases in a second transaction and forges your signature.
According to security experts, this scam is particularly difficult to catch while it’s happening. The majority of the time, when a cashier double swipes your card, it’s for a perfectly legitimate reason such as the magnetic strip is worn and the scanner is unable to read it properly on the first swipe. But unfortunately, there are criminals out there who are stealing from unsuspecting consumers this way.
To ensure this never happens to you, review your statements carefully and regularly. Immediately report any unauthorized transactions to your bank or credit card company. For further advice on how to avoid and handle this type of fraud, review the website of the Federal Trade Commission at www.ftc.gov.
A final word... If you receive a refund check from Uncle Sam this year, why not take some or all of the money and apply it to your next monthly payment? You will be that much closer to your goal of becoming debt-free!
DCC750 O
REV:02.5.04
