Experian updates credit scores and reports monthly, with lenders and data reporters sending information at varying intervals. Beyond creditor updates, other factors such as inquiries, collection accounts, and bankruptcy filings contribute to score changes. Understanding the timing and reporting of credit information is vital for managing credit health and improving credit scores over time.

The IRS Notice CP04 informs you that you or your spouse has served in a combat zone, qualified contingency operation, or hazardous duty station during the tax year specified. This may qualify you for tax deferment, but you will need to file Form 15109, Request for Tax Deferment, before the due date listed on the notice and include any additional documentation required.

IRS Notice CP08 notifies taxpayers that they may qualify for the Additional Child Tax Credit (ACTC). The ACTC is fully refundable and designed to provide additional assistance to families who may have little or no tax liability. Taxpayers who receive the notice should carefully review it and fill out two forms, Form 15110 and Form 1040 (Schedule 8812), to claim the credit. Taxpayers can expect to receive their refund in 8 to 10 weeks after the IRS processes their tax return, but filling out the forms does not guarantee receipt of the credit.

You can withdraw from an IRA without penalty as long as you’re using those funds to pay for higher education, medical treatment, or a first-time home purchase. However, you can also borrow from an IRA provided the borrowed amount is under $10,000 (or less than half the IRA) and you repay the amount in 60 days.