Finances 50+

WASHINGTON – The Internal Revenue Service provided details today clarifying the federal tax status involving special payments made by 21 states in 2022.

Winter is upon us and with temperatures plummeting in many areas, keeping the heat on is critical — a fact that criminals try to take advantage of. They impersonate utility companies, threatening to cut off service if an immediate payment isn’t made.

Be aware of short, urgent text messages, emails or social media messages asking for your help purchasing gift cards.

Getting yourself out of debt is hard work and it is time intensive. Be wary of offers of guaranteed quick fixes.

Here’s a New Year’s Resolution we could all benefit from: be vigilant about cryptocurrency scams. Fraud involving crypto investment schemes and crypto as payment in other schemes skyrocketed in 2022, according to the Federal Trade Commission. Reported losses exceeded $1 billion.

State lawmakers are weighing a new tool to curb high drug costs: a review board that would be able to set payment limits for some medications.

Every July, we take pride in celebrating our nation’s independence.  For nearly 90 years, our programs have helped provide financial independence to millions of hardworking people.  We have useful online tools like the Social Security Statement (Statement) and our benefits estimator tool that help people not yet receiving benefits.  The Statement shows the benefits that you and your family may be entitled to with personalized fact sheets tailored to your age and earnings situation.  The benefits estimator tool allows you to get estimates based on different ages you want to begin receiving benefits.  These tools can help you plan the financial independence you deserve in retirement.  

The Virginia Department of the Treasury and AARP Virginia are bringing you an unclaimed property event

The Roanoke Financial Empowerment Center offers professional, one-on-one financial counseling at no-cost to Roanoke area residents.

New survey finds nearly half of Virginia voters of all ages struggle with student debt