Remember to Notify When Moving

You’ve moved and are surrounded by boxes. It’s a moment of glory hampered by the extensive list of utilities to transfer, boxes to unpack and other lifestyle changes to make before you can truly relax and enjoy your new home. The Equifax Finance Blog reminds about some particular transfers to make sure are on that list in the new article, “Tell the IRS and Your State When You Move.”

It’s important to let the IRS, state tax agencies and other financial groups you work with are aware of where you are. While this adds another item to your list of moving chores, it can save you a lot of trouble in the long run. This is because when you don’t receive notices from financial groups, time doesn’t stop. With taxes, proposed assessment values for taxes will turn into assessed values. If you don’t get those messages, the cost of the assessments could grow with penalties and interest. By the time the letters finally catch up to you, there may be a big charge for not doing something as simple as notifying.

If that isn’t enough of a reason for you to make sure you notify at the source, these penalties can grow into liens and other ways that can hurt your credit score. The Equifax Finance blog has more reasons and tips for keeping up with taxes, retirement savings, family budgeting and more, so check it often.