CIT Bank has announced an increase in the APY for its Savings Connect account from 4.05% to 4.20% effective March 15th, 2023. CIT Savings Connect is a high-yield savings account that allows customers to earn more with the bank’s Relationship Rewards program. Customers can manage their accounts online or on the go with CIT Bank’s digital banking tools, including mobile banking and online banking. CIT Savings Connect is FDIC-insured, providing an added layer of protection for customers’ deposits.

The IRS is opening Taxpayer Assistance Centers on Saturdays (March 11, April 8, and May 13) for walk-ins without appointments from 9 a.m. to 4 p.m. Taxpayers can receive face-to-face help from IRS employees without an appointment during these special Saturday openings, except for making cash payments. Individuals are advised to bring the required documents and information during their visit. And are encouraged to explore self-service tools and resources available on IRS.gov to resolve common tax concerns online.

Axos Bank has increased the maximum APY for its UFB Direct Preferred savings and money market accounts CD accounts to 5.02% APY.

The IRS is warning taxpayers to be cautious of promoters pushing an Employee Retention Credit (ERC) scheme, which has led to an increase in false claims. The promoters of the scheme charge large upfront or contingent fees and may mislead taxpayers by not informing them of the guidelines. Acting IRS Commissioner Doug O’Donnell advises taxpayers to review the guidelines carefully and seek advice from their tax professionals.

JPMorgan Chase & Co is reportedly in talks to acquire SVB Financial Group, with the exception of its commercial banking unit, Silicon Valley Bank. This news comes after reports from Reuters on March 12th, which stated that Silicon Valley Bank had received interest from PNC and Royal Bank of Canada. The acquisition highlights the continued consolidation and acquisition trend in the financial industry. It also underscores the role of regulators in overseeing failed lenders and ensuring that any potential deals are in the best interest of all parties involved.

The recent crisis at Silicon Valley Bank has raised concerns about the stability of banks and the risks of rapid growth and lending. To understand how a bank can come to such a catastrophic end, it’s worth looking back at the example of Washington Mutual (WaMu), once the largest failed bank in US history.

Silicon Valley Bank’s recent crisis has sent shockwaves through the tech industry, with many high-net-worth individuals and business owners rethinking their banking options. The article reviews the top 10 banks in the US by assets, which include JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo.

U.S. Bank has increased the maximum APY for its CD Special account – now up to 4.70% APY.

LendKey Student Loan Refinance has increased its range of variable rates up to 4.76% to 7.86% APR.

An ad valorem tax is a tax based on the assessed value of an item, like real estate or personal property. These taxes are levied by local jurisdictions and are generally imposed on both real and major personal property. The benefit of ad valorem tax is that individuals who own more expensive items pay a higher tax. However, calculating and administering these taxes can be complicated, leading to disputes between taxpayers and tax authorities. Ad valorem taxes may be deductible on federal income tax returns, but the rules for deducting these taxes can be complex and vary depending on the type of property being taxed and individual circumstances.