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2011 4th Quarter Estimated Tax due on January 16, 2012

Bank Deals — Thu, 12 Jan 2012 05:48:03 +0000

The last estimated tax payment (4th Quarter – October 2011-December 2011) for 2011 is due on January 15, 2012. Make sure to have your payment postmark before January 16, 2012 (Monday) or else you will have to payment penalties to IRS.

Estimated tax is the method used to pay tax on income that is not subject to withholding. This includes income from self-employment, interest, dividends, alimony, rent, gains from the sale of assets, prizes and awards. You also may have to pay estimated tax if the amount of income tax being withheld from your salary, pension, or other income is not enough.

Estimated tax is used to pay income tax and self-employment tax, as well as other taxes and amounts reported on your tax return. If you do not pay enough through withholding or estimated tax payments, you may be charged a penalty. If you do not pay enough by the due date of each payment period you may be charged a penalty even if you are due a refund when you file your tax return.

New Citibank Thank You Rewards Program

Bank Deals — Thu, 12 Jan 2012 01:41:10 +0000

Citibank instituted a new rewards program for their Citibank checking program. For the most part, the new rewards program requires 1 Direct Payment and 1 Bill Payment. Previously, if you had the Citibank you Account you could have earned a maximum of 800 Thank You points per month if you have 7 or more qualifying products or services. If you had a Citigold account, you could have earned a maximum of 1200 Thank You points.

With the new system, Citibank Account customers can earn up to 1350 Thank You points per month. Citigold customers can earn up to 2100 Thank You points. Getting the maximum 2100 monthly points is out of reach for most people as you need to have mortgage and home equity line with Citibank. The new system became effective as of December 11, 2011.

For more information contact your local Citibank branch or visit this link.

2010 Federal Tax Return Extension is Due on October 17, 2011

Bank Deals — Thu, 13 Oct 2011 13:27:14 +0000

For those who file a tax extension for 2010 Income Tax, the deadline is fast approaching. You have until October 17, 2011 (Monday) to postmark your tax return to IRS and State Tax agencies.

Remember, an extension of time to file is not an extension of time to pay. You should have estimated your tax liability when you filed Form 4868 and pay any balance due when you request the extension.

US Unemployment Rate Tops 9.8% in September 2009

Bank Deals — Fri, 02 Oct 2009 21:08:21 +0000

The U.S. unemployment rate rose to 9.8 percent in September 2009, the highest since June 1983, as employers cut far more jobs than expected. The Labor Department said Friday that the economy lost a net total of 263,000 jobs last month. Over 500,000 unemployed Americans gave up looking for work. Had they continued searching, the official jobless rate would have been much higher.

Bank of America Revises Bank Fees

Bank Deals — Fri, 25 Sep 2009 00:07:11 +0000

Staring this October 19, Bank of America will allow current customers to turn off the ability to spend when their account hits zero thus eliminating overdraft fees. Next June, the bank plans to limit the number of times each year that current customers can overdraw their accounts when using a debit card at a store. Bank of America will also allow new customers choose whether they want overdraft protection when they are opening their account.