AppleMagazine

MONEY: BANK BONUSES, INTEREST MAY BOOST TAX BILL

With tax season in full swing, you may be consolidating the various charitable donation receipts, deductions and W-2 forms that you’ll submit to the Internal Revenue Service. But if you received any bank sign-up bonuses or earned interest on your bank balance, you may owe additional taxes you might not have planned for.

Interest rates on bank accounts, such as high-yield savings accounts, were high in 2022 due to ongoing rate increases made

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