Don't Mess With Taxes

Sequester is a hot topic, especially for folks who might lose some income because of the spending cuts. Their tax refunds sure could come in handy in those cases. And both issues were topics covered last week at my other tax blog.

First, those refunds.

The late start of the 2013 filing season meant that folks had to wait longer than usual to get their returns to the Internal Revenue Service. So some might have opted for a refund-based loan or similar product. That's generally not a good idea.

While the refund anticipation loans, or RALs, of a few years ago are essentially dead, other tax refund products are still a problem.

Meanwhile, everyone is waiting for potential sequester effects on their lives. So far, the impact has been minimal for most. But it's still early in the process.

You also might find these items of interest:

• When real life meets tax refund loans
• Refund loans and the once-a-year 'rich'
• How would your state fare under sequestration?