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    YOUR missing money can still be claimed on this year's tax return. Eligible taxpayers can use the Recovery Rebate Credit in their 2021 tax returns to claim their missing stimulus check. 1Americans who didn't receive any of their economic impact payments could be eligible to receive their $1,400 check after the factCredit: Getty Americans who didn't receive any of their economic impact payments could be eligible to receive their $1,400 check after the fact. The third round of stimulus payments came in under President Joe Biden’s $1.9trillion American Rescue Plan, which was signed into law last spring. Depending on which payment is missing, you'll file either a 2020 or 2021 tax return to claim a Recovery Rebate Credit. The first two payments were able to be claimed on 2020 tax returns, but the third payment must be claimed on the 2021 tax return. In order to use the Recovery Rebate Credit, you have to indicate the stimulus money received this year, if any, and how much you were supposed to be sent. To find the amount of your economic impact payment,...
    The Nasdaq has posted its worst week since the start of the pandemic, wiping billions from the wealth of tech billionaires, and Bitcoin is down nearly half from its peak level. The sell-off comes as investors try to decrease risk ahead of a key Federal Reserve policy meeting next week, amid fears over how aggressively the central bank will move to raise interest rates. But for some it marked the early sign of a markets doomsday. British investor Jeremy Grantham, a notorious life-long bear who persistently declares corrections are imminent, this week claimed that the US is in an asset 'superbubble' that will soon collapse spectacularly. With investors expecting the Fed to begin raising rates as soon as its March policy meeting, shares in pricey tech companies and other expensive growth stocks have started to look relatively less attractive.  Telsa CEO Elon Musk saw his net worth drop $25.1 billion, or more than 9 percent, on the week as a sell-off in the tech sector sent the Nasdaq to its worst week since the pandemic onset RELATED ARTICLES ...
              by  Brad Polumbo   The federal government has spent an astounding $42,000 per federal taxpayer on so-called “stimulus” efforts since the pandemic began. Where did all that money go? Well, as it turns out, one of the biggest stimulus programs, the Paycheck Protection Program, failed miserably. At least, that’s the finding of a new study from MIT economist David Autor and nine coauthors. They examined the $800 billion Paycheck Protection Program, which gave “loans,” most of which won’t have to be paid back, to businesses. It was created by Republicans and Democrats in Congress alike in hopes of helping businesses preserve their employees’ jobs for the duration of the COVID-19 crisis. The study tracks the money to see where it ended up and what it achieved. The results… aren’t pretty. The analysis shows that even though 93 percent of small businesses received loans from the program, only between 2-3 million jobs were preserved. The program spent an astounding $170,000-$257,000 for each job it helped preserve! That’s, erm, a lot more than most of those jobs even pay. Moreover, the study finds that only 23...
    GMO co-founder Jeremy Grantham The co-founder of the investment firm GMO warned on Thursday that the U.S. is approaching the end of a 'superbubble' that saw overall prosperity across the market despite the pandemic and rising inflation.  Legendary U.K. investor Jeremy Grantham published a paper claiming the market could lose a total $35 trillion in value should stocks, bonds real estate and commodities return to historical norms in 2022.   He said that while the markets suffered at the start of the COVID pandemic, the Federal Reserves guidelines rallied them with lower interest rates, making the markets unflinching to any outside force as he dubbed it 'the vampire bull market.'  The bull market is used to describe when prices are on the rise for a fixed period of time.  'You stab it with COVID, you shoot it with the end of QE [quantitative easing] and the promise of higher rates, and you poison it with unexpected inflation... and still the creature flies,' Grantham wrote.  That is 'until, just as you're beginning to think the thing is completely immortal, it finally, and...
    A CRUCIAL letter from the IRS will soon arrive to millions of taxpayers, and the agency is warning filers not to throw away the stimulus check note. Starting January 24, taxpayers can officially begin filing their tax returns, and a W-2 form is a key document you’ll need. 1The IRS is warning taxpayers not to throw away Letter 6475, as filers will need to present it filing their tax returns this yearCredit: Getty A W-2 form is provided by your employer and shows information about taxes and your income. Employees are generally given copies of these forms by January 31, via mail or electronically. Starting late January, taxpayers will soon begin receiving Letter 6475, “Your Third Economic Impact Payment,” which contains details about the third stimulus checks that went out last year. Don’t throw the letter away though as “These letters can help taxpayers, or their tax professional, prepare their 2021 federal tax return,” the IRS said in a statement. The letter will state how much you received in stimulus payments in 2021, including any “plus-up” payments. The details will help you determine if you can claim...
    STUDENTS are being warned about a scam email that promises to pay off loans under the CARES Act. The Sun has seen an email that claims student loans may eligible for stimulus forgiveness. 2Students have been a target for scammers throughout the Covid pandemicCredit: Alamy 2The Sun has seen a scam email that claims student loans may be eligible for forgivenessCredit: The Sun It calls on recipients to “submit” an application by January 31. In August, President Biden signed off plans to extend the pause on federal student loan payments until January 31. But, on December 22, the White House revealed that the pause was extended for another 90 days, taking it to May 1. Biden said: "We know that millions of student loan borrowers are still coping with the impacts of the pandemic and need some more time before resuming payments." There is no need to submit any "application" by the end of this month. The email states: “This applies to all loan statuses including those loans in default and garnishment.” Most read in MoneyBIG BOOST Automatic new...
    MANY Americans who received stimulus payments shouldn’t have – and some are wondering if they might have to pay back the money. Since the beginning of the coronavirus pandemic, three federal packages including stimulus checks have been passed. 1There's been some confusion over a math error notice issued by the IRS The first stimulus package included $1,200 in direct payments, and the next one sent $600 to Americans. The latest stimulus payments, as part of President Joe Biden’s American Rescue Act, sent $1,400 checks to Americans. But those who filed a tax return in 2021, and claimed the Recovery Rebate Credit – might have a problem. Between January 1 and July 15, the IRS sent roughly nine million math-error notices, according to the Taxpayer Advocate Service. Of the notices, which typically reflect adjustments, 7.4million were related to stimulus checks. “The instructions for the 2020 1040 return advised taxpayers to note the amount they had received from their stimulus payments, but it reassured them that if they had received extra, they wouldn't owe extra,” Kari Brummond, a tax preparer at TaxCure, told The Sun. Most read in...
    AMERICANS who are still waiting for their stimulus checks to arrive shouldn’t expect them to come today. This is because there is no regular mail delivery on Martin Luther King Day. 1Stimulus checks aren't a priority on the federal holiday Also, you can expect your local post office and couriers to be out of service today, according to the US Postal Service holiday calendar.  The USPS will re-open their doors tomorrow, January 18, at the usual times. One service that will remain running on MLK day is Priority Express Mail, which operates all year long.  But unfortunately, stimulus checks aren’t a priority on the federal holiday.  Moreover, stimulus checks weren’t sent out on Columbus Day and Veterans Day either for the same reason.  The latest stimulus checks, sent out on the federal level, were worth $1,400.  Most read in MoneyMEAL DEAL Extra '$1,504 payments' automatically being deposited as SNAP $157 benefit sentTAKE NOTE Families who opted out of $3,600 child tax credits in 2021 to get full paymentCHECK PLEASE Automatic $1,100 payments deposited THIS WEEK as calls for $2,000 check growCASH UPDATE Extra $200 available for...
    THOUSANDS of eligible Americans have until the end of the day to apply for stimulus payments worth $660. If you qualify, follow these simple steps to ensure you receive your Universal Basic Income (UBI) cash.  1Accordingly, 110 eligible families in the city will get $660 monthly payments for 12 months To claim the payments, eligible families in Shreveport, Louisiana, only have until Monday, January 17, to fill out an application. Accordingly, 110 eligible families in the city will get $660 monthly payments for 12 months. To qualify, a resident in the city must be a single parent, with an income 120% below the federal poverty line. The city defines a single parent as a mother, father, stepparent, grandparent, caregiver, or a legal guardian with a school-age child. The child needs to be at least three years old and less than 20 years old as of August 2021. Also, the city said if you are unmarried, you cannot be living with a partner. Most read in The US SunLOTTO LUCK I'm so addicted to the lottery I've just won my 4TH...
    AMERICANS will soon be able to file their tax returns – and you might be set for a higher refund this year thanks to major policy changes. While the Internal Revenue Service (IRS) saidAmericans can start filing a tax return as soon as January 24, the Treasury Department is warning that more delays could happen in 2022. 1There are a few major things you can take advantage of on your tax return this year This is because of the ongoing coronavirus pandemic and an underfunded IRS. Nevertheless, Americans will want to get ready to file and look out for documents including their W-2 forms and two letters about stimulus and child tax credit payments.  Americans can expect those key documents to arrive this month.  Big new policies signed into law means some Americans could be getting a larger tax refund this year. We unveil the maximum that you might be able to claim on your tax return this year.   General tax refund – $2,775 Assuming you overpaid in taxes in 2021 – you’ll get some sort of return in 2022. Most read in MoneyCHECK PLEASE Automatic $1,100...
    UP to 100,00 more Californians are set to get stimulus checks before the end of February. Under California’s Golden State Stimulus II initiative, eligible residents are getting payments worth between $600 and $1,100. 1Eligible Americans are getting stimulus checks worth between $600 and $1,100 To be eligible for a stimulus check, Californians must make less than $75,000 per year and generally have filed 2020 taxes before October 15, 2021. For months, California has been sending out stimulus payments in order by zip code. The last batch payments by zip code were issued earlier this week. However, the state’s public fairs office estimates that tens of thousands of more payments will be sent out. “Most of the resulting GSS II payments – estimated at between 50,000 and 100,000 – are expected to be mailed this month or next," it told the Sun.  “These payments will be issued automatically and there is no action required by the taxpayers who will receive them.”  Most read in MoneyHELPING HAND Extra food stamps sent out as emergency $1,504 boost automatically depositedHOPE ON THE HORIZON Double ‘$3,600 stimulus’ payments may be...
    Court documents have revealed that killers, pedophiles and sex traffickers are among the estimated 1.5 million inmates who received federal COVID-19 stimulus checks while behind bars. Laws on the various stimulus rounds did not prevent inmates from receiving the money, and Boston bomber Dzhokhar Tsarnaev and disgraced USA Gymnastics doctor Larry Nassar are among the known recipients. The exact amounts of stimulus payments received by individuals prisoners are not clear in most cases, and IRS records that would disclose the payments are not available to the public. However, court filings in some cases have revealed the payments, as authorities seek to claw back the money for victim restitution as in the case of Yancey Meyers, who is serving 30 years for supplying a fatal heroin dose to a North Dakota man.  Boston bomber Dzhokhar Tsarnaev received a $1,400 COVID-19 stimulus payment RELATED ARTICLES Previous 1 Next Boston Marathon bomber WILL have to pay his victims: Judge... Unabomber Ted Kaczynski, sentenced to multiple life terms,... Share this article Share Myers is a prisoner at the Federal Correctional...
    Morsa Images | E+ | Getty Images Tax season begins on Jan. 24 and filers should expect delays as the IRS combats a backlog and limited staffing, Treasury officials say. The IRS still had not processed 6 million individual returns already submitted by taxpayers as of Dec. 23, according to the agency, and the situation may get worse as the new tax season kicks off. "In many areas, we are unable to deliver the amount of service and enforcement that our taxpayers and tax system deserves and needs," IRS Commissioner Chuck Rettig said in a statement. More from Personal Finance:How those child tax credit checks may affect your tax refund this yearPre-tax vs. Roth 401(k): There's more to consider than you thinkDon't count on that tax refund yet. Why it may be smaller this year There were fewer than 15,000 workers to handle the 240 million incoming calls during the first half of 2021, which is one person for every 16,000 calls. And only 7% of taxpayers reached an agent during last year's filing season, according to Taxpayer Advocate Service's...
    THE last batch of California stimulus checks are going out to eligible Americans today. This is part of the Golden State Stimulus II program, in which an estimated 9million Californians are eligible for checks. 1The final round of stimulus checks worth $127million are being sent to eligible California residents The stimulus payments are worth between $600 and $1,100. The last batch includes 180,000 stimulus checks valued at about $127million. These are being sent out to the zip codes that end with 928-999. Stimulus checks aim to provide relief to low-income households affected by the ongoing Covid pandemic. California Governor Gavin Newsom has approved about $12billion in Covid relief. Golden State Stimulus II (GSS II) payments began in October 2021 and will continue through January 11. Most read in MoneyCHECK AGAIN Automatic new $5,200 payments sent NOW after 'surprise' $1,000 2021 boostsHELPING HAND Emergency extra $1,504 benefits will be automatically deposited this weekMORE MONEY IRS sending new ‘$3.6K stimulus’ check payments as direct 2021 boosts endGOLD ZONE Checks between $600 & $1.1K to be issued TOMORROW - here are eligible zip codes When exactly your paper...
    MILLIONS of Americans are set to receive a letter which officials say will help them receive their child tax credits in full. The Internal Revenue Service (IRS) has warned taxpayers not to throw away the letter, saying it can also "help prepare for their 2021 federal tax return." 1The IRS has told taxpayers not to throw away the letter It is understood the letter will come in an envelope marked “Important Tax Document.” The IRS says: "To help taxpayers reconcile and receive all the 2021 child tax credits to which they are entitled, the IRS started sending Letter 6419, 2021 advance CTC, in late December 2021 and will continue into January. "This letter includes the total amount of advance child tax credit payments taxpayers received in 2021 and the number of qualifying children used to calculate the advance payments. "People should keep this and any other IRS letters about advance child tax credit payments with their tax records." Anyone having another baby or taking on another dependent child would qualify for extra money. “Families who received...
    AMERICANS will receive one final round of $600 stimulus checks with the relief payment expected to arrive in people’s bank account by today. As part of the California pandemic stimulus program, some 180,000 payments worth $127million were sent out in late December and should continue to arrive through the month of January. 1Remaining $600 stimulus payments are expected to hit bank accounts today The Franchise Tax Board (FTB) says it's already issued a total of 8.5million GSS II payments. And the latest round have now been sent according to the last three digits of the ZIP code on your 2020 tax return.  Some payments may need extra time to process for accuracy and completeness. For claimants who processed this during or after the date the scheduled ZIP code payment, should allow up to 60 days before your return has been processed. The remaining zip codes ending in 928-999 are being mailed right now through today’s final distribution date (January 11, 2022.) To qualify, recipients must have $1 to $75,000 of California Adjusted Gross Income (CA AGI) to qualify. STIMULUS CHECKS LATESTCHECK AGAIN Automatic new...
    Stimulus check payments worth between $600 and $1,100 are being issued tomorrow — and here are the zip codes getting the relief money. Californians are expecting to receive their final round of stimulus payments, with checks to be sent out on Tuesday, January 11, 2022. 1Payments have been sent according to the last three digits of the ZIP code on your 2020 tax return As part of the California pandemic stimulus program, some 180,000 payments worth $127million were sent out in late December and should be arriving through the month of January. Payments have been sent according to the last three digits of the ZIP code on your 2020 tax return.  Some payments may need extra time to process for accuracy and completeness. If your tax return is processed during or after the date of your scheduled ZIP code payment, you should allow up to 60 days after your return has been processed. Californians whose zip codes ended with the digits between 720 and 927 should have been sent payments between December 13 and 31. And the stimulus checks are expected to arrive by January...
    Senator Tom Cotton, R-Ark., accused the media of trying to silence him for "exposing" the Democratic Party's radical agenda on "Fox & Friends" Monday after The Washington Post was forced to issue another correction for him over prisoners receiving stimulus checks.  WASHINGTON POST CONTINUES POOR FACT-CHECKING RECORD AGAINST TOM COTTON, FORCED TO MAKE SECOND CORRECTION Sen. Cotton discussed the correction with co-host Steve Doocy on Monday, telling him this is the media's ploy to try to shield Americans from knowing the truth.  "The reason they keep fact-checking me, though, is not because I'm not telling the truth," Sen. Cotton stated. "It's because I am telling the truth. I'm exposing the crazy ideas of the Democratic Party and their praetorian guard, and the media doesn't want to let me speak out to those truths." The publication's fact-checker, Glenn Kessler, awarded the senator with two "Pinocchios" last year for predicting criminals like the Boston Marathon bomber would receive a COVID-19 stimulus check.  WAPO FACT-CHECKER BACKTRACKS AFTER COTTON CORRECTLY PREDICTED BOSTON BOMBER WOULD RECEIVE COVID STIMULUS CHECK Kessler issued the correction via Twitter...
    AMERICAN taxpayers can expect a stimulus check letter from the Internal Revenue Service (IRS) in the post this month. Labeled Letter 6475, “Your Third Economic Impact Payment,” the correspondence details the information about the third stimulus checks which went out last year. 2The two letters are necessary to hold onto when filing your taxes this year The IRS will start sending out the letters in late January. Don’t throw the letter away though as “These letters can help taxpayers, or their tax professional, prepare their 2021 federal tax return,” the IRS said in statement. The letter will state how much you received in stimulus payments in 2021, including any “plus-up” payments. The details will help you figure out if you can claim the Recovery Rebate Credit on your 2021 tax return. This credit will make up any difference between the amount you were eligible for in the third stimulus check and how much you actually received. Most read in MoneyCHECK AGAIN Automatic new $5,200 payments sent NOW after 'surprise' $1,000 2021 boostsBIG BOOST Cola cost of living boost of ‘$2,753’...
    Brendan Smialowski/ Getty The Washington Post was forced to correct a 2021 fact check on Thursday after the news that Boston bomber Dzhokhar Tsarnaev received a federal stimulus check. The Glenn Kessler-authored fact check centered on a legislative amendment in the Senate in March 2021 that would have prevented stimulus checks from going to federal prisoners. Sen. Tom Cotton (R-AR) noted at the time that the legislation failed in a 50-49 vote along party lines, with Democrats voting against it and Republicans voting in favor. In a March 9, 2021 column, Kessler attributed two “pinocchios” to the claim, calling it “scaremongering” and explaining, in part, “It’s hard to craft rules that target mass murderers without also penalizing the families of people in prison for much less heinous crimes.” He also said that similar, bipartisan legislation in past years had not included such language. The Justice Department revealed in a Thursday filing that Tsarnaev had indeed received a federal stimulus check in the amount of $1,400. The Post said in a Thursday update that it was amending its claims, citing a statement by...
    LPETTET | iStock | Getty Images If you didn't get the last stimulus check, don't despair. You still have time to claim the money if you're eligible. A third round of stimulus payments was sent to Americans as a part of the $1.9 trillion American Rescue Plan, signed into law in March 2021. Starting that month, millions of Americans and their dependent children were sent up to $1,400 as part of the Covid-19 pandemic relief. As of July, the IRS had sent more than 171 million payments to Americans totaling $400 billion. More from Invest in You:January is one of the best times to look for a job. How to prepareThese entrepreneurs used the 'Great Resignation' to reinvent themselvesThe 'Great Resignation' is being led by low-wage and minority workers The IRS had until Dec. 31 to complete sending the checks to those eligible. If you still haven't received your payment, or got less than you were eligible for, you can claim the money on your 2021 tax return by using the Recovery Rebate Credit. "If you're eligible, you'll need to...
    MORE than 180,000 stimulus checks valued at about $127million are being sent to Californians right now. Each check is worth up to $1,100 and is part of the final round of Golden State Stimulus II payments. 1The final round of stimulus checks worth $127million are being sent to eligible California residents The stimulus checks are meant to provide relief to low-income households affected by the ongoing Covid pandemic. California Governor Gavin Newsom approved about $12billion in Covid relief. Golden State Stimulus II (GSS II) payments began in October 2021 and will continue through January 11, 2022. The checks have been mailed out according to zip code. The last round of checks started being sent on December 27, 2021 to qualifying residents who live in an area with a zip code ending in 928-999. The tax board said those who receive a paper check should expect for it to take up to three weeks once they are sent. Most read in MoneyGET LUCKY Huge Powerball jackpot on offer after massive Mega Millions drawingBIG BUCKS $1,657 checks being sent in DAYS in huge cost of living adjustment boostPAYCHECKS...
    New York (CNN Business)Wall Street ended Wednesday's session sharply lower, as investors dealt with Omicron headlines as well as the Federal Reserve's December meeting minutes that confirmed the central bank has its foot on the stimulus brakes.The Dow (INDU), which hit a record high Tuesday, closed down 1.1%, or 393 points.The S&P 500 (SPX), the broadest index tracking US equities, finished 1.9% lower, marking its worst day since late November. The tech-heavy Nasdaq Composite (COMP) dropped a whopping 3.3%. It was its worst performance since February 2021.It was a relatively busy day for economic news, which included an ADP Employment Report that blew past expectations. More than 800,000 private payrolls jobs were added last month, the report said, more than double what economists had expected. This bodes well for the government's jobs tally due Friday and is good news for any investor betting on the economic recovery.Last month, the Federal Reserve said it would wrap up its stimulus program faster than originally announced, and it updated its economic projections to show multiple interest rate increases this year. The meeting minutes...
    FEDERAL lawmakers have discussed automating stimulus payments, but state governments are already implementing the concept - and some residents can expect to receive checks this week. Automatic stabilizers seek to send funds directly to Americans when certain economic conditions are met, without needing approval by local legislators or lawmakers in Congress. 1Automatic stimulus payments are going out in multiple states Adam Ruben, director of the Economic Security Project, discussed the idea of “automatic stabilizers” with members of Congress in May. He said: “Putting in place these kinds of triggers would smooth out the recovery and no one is left at the mercy of Washington gridlock in future recessions.” Throughout the pandemic, Democrats and Republicans have struggled to agree on Covid relief measures. Newark, New Jersey recently expanded its UBI program to 400 residents. As a result, a total of $12,000 will be given to each resident through the program over two years. Half of the program's participants will receive $250 on a biweekly basis. The remaining half will receive two payments of $3,000 each year, according to a statement by the city. Eligible participants will be over...
    A bipartisan coalition of senators is in early talks to pass another coronavirus pandemic relief package costing as much as $68 billion, a Wednesday report claimed. An early version of the legislation appears targeted primarily at businesses currently ailing as the Omicron variant continues to fuel a new wave of infections. That includes restaurants, performance venues, gyms and minor league sports teams, according to the Washington Post. The discussions in the Senate are reportedly being led by Democrat Ben Cardin of Maryland and Republican Roger Wicker of Mississippi. GOP Senator Susan Collins, as well as Democrats Mark Warner and Maria Cantwell, allegedly are also involved. It comes days after two House Democrats and one Republican wrote a letter to Congressional leadership urging them to pass a targeted relief package with funds for 'small businesses in the fitness, live events, and travel industries.'  The Biden administration has been criticized for a lagging response to the fast-spreading but less severe Omicron variant. Surging cases have already fueled hundreds of flight cancellations due to staff testing positive, and forced Americans nationwide to wait in...
    MILLIONS of Americans in one state will be getting an extra stimulus check after they file their taxes for 2021. Indiana residents will receive tax refund checks worth $125 automatically once the funding in the state's reserves surpasses 12.5 percent for general funding. 1Indiana residents will receive refund checks worth $125 automaticallyCredit: Getty The refund coming out of the reserves was announced last summer to be worth around $545.3 million. Right now the reserves total $4 billion, equaling 23 percent of its general fund. Regarding the surplus in reserves, Indiana Governor Eric Holcomb said: “We have an obligation to put this money back into the hands of taxpayers instead of living it in the hands of (the) government.” The way residents receive the money will vary depending on the choices made when filing their taxes this year. The state plans to work with around 910,000 low-income residents who do not usually file taxes to ensure they receive this stimulus payment.  The deadline to file federal taxes for 2021 is April 15, 2022. Most read in The US SunICON LOST Betty White's cause of death revealed after screen legend passed away at 99MORE MONEY...
    CASH-STRAPPED Americans in some states will be able to claim payments and grants worth ranging from $600 to a whopping $7,500 this year. Officials in California and Vermont are providing financial assistance to help cash-strapped taxpayers amid Omicron uncertainty. 1States including California and Vermont are offering cash boosts to cash-strapped AmericansCredit: Getty The future of child tax credit payments is also not certain, with Joe Biden’s $2trillion Build Back Better program stalled in the Senate after Joe Manchin revealed he couldn’t vote for the package. And, a fourth round of federal stimulus checks currently seems unlikely although a financial expert suggested that payments could be deposited without lawmakers' approval if "automatic stabilizers" were attached. The Sun takes a look at the states and cities offering a cash boost to Americans. California The final round of Golden State Stimulus II checks was being deposited from December 27. The stimulus checks range in value from $600 to $1,100 depending upon residents' eligibility. Most read in MoneyMORE MONEY New $5,200 stimulus checks being sent out NOW as calls for $1,400 payments growBIG BOOST...
    STIMULUS check payments worth $1,100 will be issued in the next eight days - find out who will be getting the money. Thousands of Californians will receive payments worth up to $1100 in the coming weeks as part of Governor Gavin Newsom’s Golden State Stimulus II initiative. 1Stimulus checks worth up to $1,100 will be sent out to thousands of Californians in the next eight daysCredit: Getty The stimulus checks are meant to relieve low-income households affected by the ongoing Covid pandemic. Governor Newsom approved about $12billion in Covid relief, with the latest round of checks totaling nearly $575million. Payments began in October and will continue through January 2022. The checks range in value from $600 to $1,100 depending on eligibility and whether a first Golden State Stimulus check was received. California residents were required to file their tax returns by October 15 if they wanted to receive a state stimulus check. Recipients must’ve lived in the Golden State for half of the 2020 tax year and be a resident on the date that the payment is issued. Most read in The US SunBIG BUCKS 'Surprise'...
    HERE are three things to do if you miss the December 31 stimulus check payment deadline and how you can still access that cash. The final $1,400 stimulus check payment was issued in March 2021 as part of President Joe Biden's American Rescue Plan. 1People who missed out on the three stimulus payments can still access their cashCredit: Getty The government assistance was provided as a boost to struggling households hit hard by the Covid-19 pandemic. The payments were issued automatically by the IRS based on taxpayers' information, through an online portal for Non-Fliers or from their 2019 or 2020 tax returns. Taxpayers who had not filed a tax return in the previous three years or failed to provide their information through the Non-Filer online portal were left out of all three stimulus payments. Families who recently welcomed a newborn into their household also missed out on the extra funds via the enhanced Child Tax Credit. However, when folks file their 2021 tax return in 2022, they will be able to claim the recent payments, as the IRS will now...
    DOUBLE payments in February are being weighed as an option as the Biden administration aims to reinstate monthly checks for families. The IRS told Congress that lawmakers needed to approve additional payments by December 28 in order for families to receive January checks. 1Families who are eligible for child tax credits could see double payments in FebruaryCredit: Getty The last child tax credit payment for 2021 was issued on December 15. While Congress didn't meet the deadline, there is hope of two payments for families in February. White House press secretary Jen Psaki said the Biden administration is workshopping a bill that could reinstate payments, WKRC reported. "If we get it done in January, we've talked to Treasury officials and others about doing double payments in February as an option," Psaki said. Most American families who received monthly $300 child tax credit payments beginning on July 15 will receive the second half of the credit in a $1,800 lumpsum with their 2021 tax return. Eligible families who have not yet received any of the payments will get the full $3,600 when...
    CASH-STRAPPED Americans in California and Florida are among those in line to receive stimulus checks worth up to $1,100. States are offering taxpayers a helping hand at a time when a fourth round of federal payments looks highly unlikely. 1Stimulus checks are being sent out to Americans in several states including California, Florida and MarylandCredit: Getty Thousands of Californians will receive payments worth up to $1100 in the coming weeks as part of Governor Gavin Newsom’s Golden State Stimulus II initiative. Residents who live in an area with a zip code ending in 928-999 will have their stimulus check mailed up until January 11. Americans should receive their check no later than February 1. Paper checks can take up to three weeks to arrive after they have been posted. Californians were required to file their tax returns by October 15 if they wanted to receive a state stimulus check. Recipients must’ve lived in the Golden State for half of the 2020 tax year and be a resident on the date that the payment is issued. Most read in MoneyCASHING IN $200...
    THOUSANDS of stimulus checks will land on the doorsteps of qualifying California residents over the next 13 days. The final round of Golden State Stimulus II checks, worth up to $1,100 each, will be mailed out through January 11. 1Qualifying California residents will receive up to $1,100 The stimulus checks are meant to provide relief to low-income households affected by the ongoing Covid pandemic. California Governor Gavin Newsom approved about $12billion in Covid relief, with the latest round of checks totaling about $575million. Payments began in October and will continue through January 2022, with the last round of aid being mailed out from Monday, December 27. The checks have been mailed out according to zip code. From December 27, 2021 through January 11, 2022, qualifying residents who live in an area with a zip code ending in 928-999 will have their checks mailed. The tax board said those who receive a paper check should expect for it to take up to three weeks once they are sent. Most read in MoneyCASHING IN $200 social security and military retirement cash revealed – do you qualify?FESTIVE CASH Huge Powerball...
    AT LEAST 18 billionaires and hundreds of other rich elites collected stimulus checks intended to support struggling households during Covid-19. The 270 wealthy Americans who reportedly wrote off enough deductions to qualify for the extra sums doled out by Uncle Sam actually all earned $5.7billion in income, according to their previous tax returns.  3At least 18 billionaires, including George Soros collected stimulus checks that intended to support struggling households to ride out the pandemic’s economic slowdownCredit: AFP 3Junk bond billionaire Ira Rennert, who is said to be worth $3.7 billion, also banked a stimulus checkCredit: Getty Each appears to have whittled down their tax responsibilities to claim to have earned negative net incomes allowing them to receive the $1,200 single and $2,400 married couple extra support, based on ProPublica’s investigation into the IRS activities of the country’s wealthiest taxpayers. These rich taxpayers received stimulus checks after tapping complex tax deductions to reduce their net incomes to less than zero, qualifying them for the checks, the report noted.  POOR BILLIONAIRES The report highlighted some of the boldface names who pocketed the...
    THERE are only three days left to enroll in a stimulus check payment program that offers cash to pay for internet bills and once-off payments for computers. The Emergency Broadband Benefit program was established in December 2020 as part of the Covid stimulus package passed by Congress. 1Households can apply for a $50 monthly discount on their broadband paymentsCredit: Getty It offers $50-a-month off broadband services and associated rental equipment for eligible families. This climbs to $75 a month for households in qualifying tribal lands. And households eligible for the program can get a one-time discount of $100 on a laptop, tablet, or desktop computer if they register before the New Year's Eve deadline. Since the fund was established, more than 8.5million American households have signed up. "This means more people are getting the connections they need right now," said Federal Communications Commission Chairwoman Jessica Rosenworcel. The discount could act as a lifeline for many households who were battling through online learning and working from home as the pandemic continues. Most read in...
    SOME states are handing out new $1,000 stimulus checks to kick start the economy and help citizens out. Stimulus checks were a financial lifeline for many during the Covid-19 pandemic, and now they’re back. 1Citizens are able to pocket up a financial booster check in seven states In at least seven states, you and your family may qualify for a new stimulus check. This round of stimulus checks is not a fourth federal stimulus check, but rather a stimulus check sent by state governments that have passed legislation. Here are the states that are offering stimulus checks, as first reported by Fortune. California If you live in California, you could get a stimulus check of $1,100 under the Golden State Stimulus II plan. You can qualify if you had a California adjusted gross income of up to $75,000 in 2020, you filed your 2020 taxes, you lived in California for at least half of 2020, no one else claims you as a dependent and if you are a California resident on the date your stimulus check is paid. Florida If...
    MASSIVE stimulus checks worth up to $80,000 are being sent out until 2025 for a specific group of people. Homeowners in California can receive coronavirus stimuli checks as the result of the US Treasury Department approving the state’s plan to offer $1billion in mortgage relief grants. 2Homeowners in underserved communities can receive up to $80,000 in mortgage reliefCredit: Getty Governor Gavin Newsom proposed the California Mortgage Relief Program in an effort to help 20,000-40,000 homeowners that are struggling with mortgage payments due to the pandemic. The program’s funding comes from President Joe Biden’s American Rescue Plan’s Homeowner Assistance Fund. The checks will be a one-time grant and would go to socially disadvantaged and underserved communities. The program will help cover the past due housing payments of the recipients. “Our Housing is Key program has already provided renters and landlords with the assistance and resources they need to stay afloat,” said Newson in a statement. “Now, with our California Mortgage Relief Program, we are extending that relief to homeowners,” Those living in California at or below 100 percent of their county’s...
    AMERICANS just have three days to claim stimulus checks worth up to $1,400. IRS officials say that taxpayers can apply for plus-up payments until December 31. 1Americans have until December 31 to apply for plus-up payments worth up to $1,400Credit: Getty The payments will be sent out to those who received a stimulus check based on their 2019 tax return or information obtained from the Social Security Administration. To be eligible for the plus-up payment, you must have earned less in 2020 versus 2019. For example, if something changed on your 2020 tax return - such as a loss of income or you added a dependent - you may be entitled to receive a check. To get the stimulus cash, Americans must file their tax return as soon as possible. The IRS will not issue plus-up payments beyond the December 31 deadline. It normally takes around two weeks for officials to process your application, but you may be lucky if you submit your tax return. Most read in MoneyBIG BUCKS 'Surprise' $8,000 cash boosts to be sent out as $1,000 payments...
    AMERICANS have just four days to apply for the latest round of stimulus payments, and here's how you can get your cash. The deadline for the IRS' plus-up stimulus program, which features a $1,400 to eligible Americans, is quickly approaching with less than a week to go before the New Year. 1Americans have just four days to turn in their tax returns to see if they qualify for the IRS' $1,400 plus-up stimulus paymentCredit: Getty The IRS payments are part of the American Rescue Act, signed by President Joe Biden in March. Under the legislation, some Americans may receive a $1,400 payment if they’re eligible for a plus-up check. The plus-up payments will be sent out to those who received a stimulus check based on their 2019 tax return or information obtained from the Social Security Administration. To be eligible for the plus-up payment, you must have earned less in 2020 versus 2019. For example, if something changed on your 2020 tax return - like you made less money or added a dependent - you may be eligible for the plus-up payments. Most read in The US...
    NEARLY a million Covid stimulus checks worth $1100 each are being sent out to Californian residents through the New Year. As the pandemic continues, one state is continuing to lend a helping hand to households who have been affected by the chronic coronavirus disruption — find out who gets one. 1Hard-pressed Californians are to get Covid checksCredit: Getty According to news reports, about 794,000 checks worth a collective $568 million are being mailed out to eligible state residents through December 31. But only residents of California for more than half the 2020 tax year qualify. This makes them distinct from the next wave of child tax credit payments poised to go out to millions of Americans in just a few weeks’ time.  A salary of $30,000 to $75,000 per year qualified California residents to receive $600, and $1,100 for those with children under the age of 18. The checks are part of the state’s Golden State II program thanks to the around $12billion in coronavirus relief approved by Governor Gavin Newsom.  "The Golden State Stimulus is key to lifting up...
    SOME American parents could get a stimulus check worth up to $8,000 next year – find out if you are eligible and when you might get the money. The money going out is being made available under the child and dependent tax credit, as part of the American Rescue Plan. 2Cash-strapped American parents could claim the stimulus money in 2022Credit: Getty Parents who have an adjusted gross income of less than $125,000 and who also have at least two children under the age of 13, could be in line to receive a check. The money is designed to give a helping hand to families to provide care and support for their kids by offsetting other costs. How much you can get In 2020 and previous years, the maximum you could claim for two or more children was $6,000. However, this amount has been boosted in 2021 thanks to the American Rescue Act, but it may come as a surprise to many families. This year, parents are eligible to claim tax credits of expenses of up to $8,000 for one child...
    FAMILIES with two children could get a stimulus payment worth up to $8,000 in the new year. Parents could claim the stimulus money in 2022 if they have kids under age 13 and an income of less than $125,000. 1Cash-strapped American parents could claim the stimulus money in 2022Credit: Getty The relief aid has been dubbed the child and dependent tax credit. It aims to help working families offset expenses when financially providing for their kids. Qualifying expenses include transportation, housekeepers, babysitters, before and after school programs, as well as day camps and daycare. The cash can also be used to care for dependents with disabilities. How much you can get In 2020 and previous years, the maximum you could claim for two or more children was $6,000. However, this amount has been boosted in 2021 thanks to the American Rescue Act, but it may come as a surprise to many families. This year, parents are eligible to claim tax credits of expenses of up to $8,000 for one child and $16,000 for multiple kids. Most read in The US...
    HOME prices have surged across the country since the onset of the pandemic – but they are rising more rapidly in some states than others.   In 2021, average home prices have climbed to $408,800, up from $389,400 in the previous year, according to research and analysis firm Statista.  1Home prices in states have risen much higher in some compared to others since early 2020 If you’re a homeowner you’ve likely benefited from this. Meanwhile, this hasn’t been as fun for those in the market for a home, as the supply isn’t meeting the demand. As things stand, the demand remains sky-high while inventory remains low.  Add that to the lack of action by the Federal Reserve, which is another reason why prices remain so high. As a result, some first-time home buyers are having a challenging time affording a home. We unveil below which median home list prices are rising at the highest pace since the beginning of the pandemic by state. Most read in MoneyBABY BOOM IRS will give $1,400 bonus 'stimulus' for parents of Christmas babiesMORE MONEY 'Surprise' $1,000 checks...
    ELIGIBLE residents must take action now if they wish to receive a surprise $1,000 stimulus check, which are being sent out throughout the next seven days. Connecticut is one of several states that created a stimulus program for residents to help out amid the ongoing Covid-19 pandemic. 1Connecticut residents must take immediate action to see if they qualify for their state's $1,000 surprise stimulus paymentCredit: Getty However, in order to reap those benefits in the form of an additional $1,000 stimulus check, residents need to make moves immediately - before the year ends. Connecticut's Back to Work program for $1,000 in stimulus checks began in May and will continue until December 31, 2021. Governor Ned Lamont said that the program was created to help struggling residents transition back to working regularly. "Many workers who were displaced during the early months in the pandemic and faced long-term unemployment are now transitioning back into the workforce and starting to rebuild," Lamont said. "This one-time bonus payment will help some of those workers pay for the critical things they need to get back to work, including childcare. "This is...
    MILLIONS of homeowners across America struggling to pay their mortgages may see some relief. A federal program is providing billions of dollars to states to help their residents catch up with their late payments. 2Struggling Americans struggling to pay their mortgages might get some relief The pandemic sent homeowners scrambling as people lost jobs or employers scaled back on hours, significantly reducing incomes. The American Rescue Plan Act set aside stimulus money for states to use to help vulnerable homeowners at risk of losing their homes. States had to apply for the available money. The National Council of State Housing Agencies (NCSHA) said all states and eligible territories have applied for the funding. A majority of the states are running the homeowner assistance fund through their own state's housing finance agency (HFA). The states are working with the US Department of Treasury to implement their own homeowner assistance fund. Most read in moneyMORE MONEY 'Surprise' $1,000 checks being sent out THIS MONTH after $3,000 boosts depositedBABY BOOM IRS will give $1,400 bonus 'stimulus' for parents of Christmas babiesGOING UP Cola...
    SOME low-income workers might be receiving some tax credit packages in the next year that can go as high as $6,000. The Earned Income Tax Credit, a federal benefit that is offered to low-income workers depending on their family size, functions as a work incentive to pay benefits as a percentage of one's income up until a cap. 1Some low-income workers can earn up to $6000 in tax credits The EITC operates as a tax credit with benefits for low earners, primarily targetting those with children and families. For example, someone with two kids can receive a credit up to 40 percent of their earnings for a maximum of $5,980, up until they earn an income of $42,000 or more. Low-earning but childless workers can receive up to $543, but with the American Rescue Plan Act, that number has been bumped up to $1,502. The tax credit is fully refundable, allowing taxpayers who do not owe any income tax or pay a small portion that is less than what they are owed in EITC, they can receive the rest of...
    SURPRISE $1,000 stimulus checks will be sent out on December 31 - here's how to make sure you know how to get the cash. Connecticut is one of several states that created a stimulus program for residents to help out amid the ongoing Covid-19 pandemic. 1Connecticut residents could receive a $1,000 stimulus check if they qualify for the state's Back To Work programCredit: Getty But in order to reap those benefits in the form of an additional $1,000 stimulus check, residents need to make moves immediately -- before the year ends. Connecticut's Back to Work program for $1,000 in stimulus checks began in May and will continue until December 31, 2021. Governor Ned Lamont said that the program was created to help struggling residents transition back to working regularly. "Many workers who were displaced during the early months in the pandemic and faced long-term unemployment are now transitioning back into the workforce and starting to rebuild," Lamont said. "This one-time bonus payment will help some of those workers pay for the critical things they need to get back to work, including childcare. "This...
    STIMULUS payments worth up to $8,000 will be sent to families with two children in 2022 – here's how to find out if you're eligible. Cash-strapped American parents could claim the stimulus money in the new year if they have kids under age 13 and an income of less than $125,000. 1Cash-strapped American parents could claim the stimulus money in 2022Credit: Getty The relief aid has been dubbed the child and dependent tax credit. It aims to help working families offset expenses when financially providing for their kids. Qualifying expenses include transportation, housekeepers, babysitters, before and after school programs, as well as day camps and daycare. The cash can also be used to care for dependents with disabilities. How much you can get In 2020 and previous years, the maximum you could claim for two or more children was $6,000. However, this amount has been boosted in 2021 thanks to the American Rescue Act, but it may come as a surprise to many families. This year, parents are eligible to claim tax credits of expenses of up to $8,000 for...
    HOLIDAY Stimulus check payments of up to $1,100 are being sent out in several states before Christmas and New Year's. Some lucky residents are in for a treat as several states now have their own programs to benefit the people who live there, with each local government deciding who qualifies for a fourth stimulus check. 1Stimulus check payments up to $1,100 are being sent out to eligible residents in certain states before Christmas and the New YearCredit: Getty Here are seven states where residents can apply for a surprise stimulus check before Christmas and New Year's: CONNECTICUT In Connecticut, Governor Ned Lamont announced the Back to Work program for $1,000 in stimulus checks, starting on May 30, 2021, which will continue until December 31, 2021. The requirements are more involved in other states with specifics on when residents filed for unemployment and how long they were on unemployment. Residents are also required to have obtained a job to be eligible for the stimulus payment. To claim a $1,000 stimulus payment, a person is required to complete and submit the Back to Work CT program...