I am very concerned about identity theft. What can I do to protect myself?

The widespread reach of technology has led to growing concerns about identity theft. If your personal information falls into the wrong hands, it could lead to identity theft. Identity theft could result in fraudsters using your personal information to open credit card accounts, bank accounts and telephone service accounts or to make major purchases – all in your name.

If you suspect your personal information has been compromised or is at risk, it is advisable to place a fraud alert on your credit file. For enhanced security, consider implementing a credit freeze. A fraud alert is a notification placed on your credit report that prompts potential creditors to take extra steps to verify your identity before extending credit in your name. A credit freeze completely blocks access to your credit report, preventing anyone from opening new accounts in your name without your explicit authorization. Fraud alerts and credit freezes are completely free to set up and remove, and neither action will affect your credit score.

A credit freeze provides significantly stronger protection than a fraud alert, but there is a drawback. When you freeze your credit, you will not be able to open new lines of credit or obtain a new loan while the freeze is activated. It does not affect your ability to use existing credit cards or other accounts that are already open. If you need to apply for a new credit card or some type of loan, you can temporarily lift the freeze on your account until your application is approved; then, you can refreeze it at any time.

Fraud Alert Set-Up

To set up a fraud alert, you will need to contact one of the three major credit reporting bureaus – Equifax, Experian and TransUnion – either by phone, online or by mail. You only need to contact one of these agencies, and they will notify the other two. Here is the phone and website contact information for each of the three bureaus.

• Equifax: 800-685-1111 or Equifax.com/personal/credit-report-services
• Experian: 888-397-3742 or Experian.com/help
• TransUnion: 888-909-8872 or TransUnion.com/credit-help

Even if you have not been a victim of identity theft, it is advisable to set up an “initial fraud alert.” This alert lasts for one year and can be renewed annually.

Credit Freeze Set-Up

To set up a credit freeze you will need to contact each of the three credit reporting bureaus mentioned above – Equifax, Experian and TransUnion. A credit freeze remains in place until you choose to unfreeze it. Keep in mind that, before applying for a new credit card or loan, you will need to temporarily lift the security freeze by following the procedures provided by each credit bureau.

You can monitor your credit file by regularly reviewing your credit report, even if you choose not to establish a fraud alert or a credit freeze. You can also obtain a free credit report each week from Equifax, Experian and TransUnion by visiting AnnualCreditReport.com.

Savvy Living is written by Jim Miller, a regular contributor to the NBC Today Show and author of “The Savvy Senior” book. Any links in this article are offered as a service and there is no endorsement of any product. These articles are offered as a helpful and informative service to our friends and may not always reflect this organization’s official position on some topics. Jim invites you to send your senior questions to: Savvy Living, P.O. Box 5443, Norman, OK 73070.

Published April 11, 2025

The April 15 tax deadline is rapidly approaching. The Internal Revenue Service (IRS) reminds taxpayers they should promptly file their tax return. The best practice is to file a return electronically and request any refund directly to your bank account. Electronic filing reduces taxpayer errors and will speed up receipt of your tax refund.

1. Electronic Filing Options— Taxpayers with incomes of $84,000 or less in 2024 may use the IRS Free File software. In addition, Free File Fillable forms are available to all taxpayers, regardless of their income level. Taxpayers in 25 states may use the IRS Direct File program if they have a simple return. The IRS also supports the Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) programs. For members of the military, the Department of Defense offers the MilTax program for members at no cost.
2. Where's My Refund?— The “Where's My Refund?” tool is typically updated within 24 hours after an electronically filed tax return. You will need your Social Security number, filing status and exact refund amount to check your refund status.
3. Payment Options for Taxes— There are multiple payment options for those that owe taxes. You can use Direct Pay to make a transfer from a checking or savings account, or make a payment through an IRS Individual Online Account. Taxpayers may also pay using a debit card, credit card or digital wallet. The Electronic Federal Tax Payment System (EFTPS) is another option to accept payments. Additionally, you can also pay by check, money order or make a cash payment through a retail partner.
4. Unable To Pay Taxes— If you experience financial problems and owe less than $100,000 in combined tax, penalties and interest, you may create a payment plan which provides you with 180 days to pay in full. If you owe less than $50,000, you can create a long-term payment plan. Under this plan, your monthly payments may be stretched out for up to 10 years.
5. Extension to October 15— Taxpayers who cannot complete their filing by April 15 may receive a six-month extension until October 15. All taxpayers, regardless of income, may use the IRS Free File program to file Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return. If you make an electronic payment using Direct Pay or a debit or credit card, you qualify for an extension. The tax payment is due on April 15 even if your filing date is extended to October 15.

There are exceptions to the filing and, in some cases, to the payment deadlines. These may apply to taxpayers who serve in an active combat zone, live outside the United States or live in certain disaster areas. Contact your tax professional or go to IRS.gov if you think you may qualify for one of these exceptions.

Published April 11, 2025

I have been giving more thought to how to plan for the years ahead. As someone who may not have immediate family to rely on, what resources are available to me, for help with important matters such as an emergency contact, healthcare decisions, financial matters and living arrangements as I age?

This is a very common concern for the 22 million solo agers across the United States who do not have adult children or other family members they can depend on to watch out for their wellbeing. Here are some tips and resources that can help.

Choosing Helpers & Decision Makers

While older adults usually name children or spouses to make decisions on their behalf, solo agers will most often choose a sibling, niece or nephew, or a trusted friend or neighbor. Whoever you choose, be sure to talk to them first to make sure they are willing to assume the responsibility.

If, however, you do not have anyone you feel comfortable asking, or who is willing to take on that responsibility, you can hire a professional. One of the best resources is an aging life care manager. These are trained professionals in the area of geriatric care who often have backgrounds in nursing or social work and can serve as your emergency contact, oversee your care and even act as your executor. They can also connect you with legal and financial professionals in your area to help manage your affairs.

Aging life care managers typically charge anywhere from $100 to $300 an hour, depending on their location and experience. You can search online for an expert near you or visit your local council on aging.

If hiring a life care manager is not financially feasible, there are other steps to take to prepare for future needs. Start by creating a basic estate plan including a power of attorney, advance directive and a will. Having these estate planning documents prepared ahead of time helps ensure your wishes are carried out if you become incapacitated and when you pass away.

To help you prepare these documents, your best option is to hire an experienced estate planning attorney, which can cost anywhere from a few hundred dollars to a couple of thousand dollars depending on location, needs and experience. In some cases, the attorney may also be able to act as your power of attorney or executor, or help you locate a professional in your area.

There are also services available to help with organizing and preparing bill payments with your approval. Alternatively, you can work with a daily money manager who, in addition to paying bills, can handle tasks like balancing your checkbook and organizing tax information.

It is also a good idea to meet with a financial advisor to help figure out what services and living arrangements you can afford and what steps you can take to ensure that your financial resources last your lifetime. If you do not have an advisor, you can find a fee-only, fiduciary financial planner through searching online.

Savvy Living is written by Jim Miller, a regular contributor to the NBC Today Show and author of “The Savvy Senior” book. Any links in this article are offered as a service and there is no endorsement of any product. These articles are offered as a helpful and informative service to our friends and may not always reflect this organization’s official position on some topics. Jim invites you to send your senior questions to: Savvy Living, P.O. Box 5443, Norman, OK 73070.

On April 16, 2025, the Internal Revenue Service (IRS) explained the penalty relief options for taxpayers who missed the filing deadline. The IRS encourages taxpayers to file and pay taxes if they are able to do so. Taxpayers who make partial payments toward their tax debt can reduce the accrued interest and penalties.